Kirstie Alley’s Estate Planning
Kirstie Alley enjoyed the fruits of her labor following a successful career in the limelight, leaving behind a $40 million fortune and a massive real estate portfolio.
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Laurel, MD 20707
Downs Law Firm, P.C.
Kirstie Alley enjoyed the fruits of her labor following a successful career in the limelight, leaving behind a $40 million fortune and a massive real estate portfolio.
The pain of going into a timeshare deal is matched by the costs, aggravation, and confusion of getting out. The desperate owners are often elderly and anxious to spare their families from the need to dispose of these toxic assets. Timeshare scams are long-term answers to vacation desires.
Here are five critical mistakes to avoid when dealing with your beneficiary designations.
A spendthrift trust allows you to leave funds to a beneficiary without giving them full control over those funds.
When you set up your estate plan it is important to coordinate the legal planning documents that you or you and your attorney create with the document provided by your retirement account custodian and/or your life insurance carrier called a ‘Designation of Beneficiary.’
Ever heard the phrase, “a chain is only as strong as its weakest link?” The same goes for a financial portfolio: It’s only as safe as the password that protects it.
Vacation homes may also comprise a significant portion of the family’s wealth. Therefore, it’s understandable that homeowners want to pass their properties and family traditions to future generations.
There are many stories of strange conditions in wills and trusts over time. For example, the German poet Heinrich ‘Henry’ Heine died in 1856 and left his estate to his wife, Matilda, on the condition that she remarry, so that ‘there will be at least one man to regret my death’.
A pot trust is a type of trust that lists children as beneficiaries, with the trustee using his or her discretion as to how trust assets should be spent. If you have minor children, you might consider setting up a pot trust to meet their financial needs, if something should happen to you. This type of trust allows you to create a single pool of assets to be used for the benefit of multiple children.
Whatever the reason, whether your life is a bed of roses or a getting-worse-nightmare, there are things you can do now to insure what you leave will go to who you want. And when. And in what portion or portions.