Asset Protection Archives

Death of Prince’s Brother Impacts His Estate

October 5, 2021

John R. Nelson was Prince’s brother and oldest brother. He was born in 1944.

Should I agree to Be an Executor of an Estate?

September 22, 2021

Usually when asked to be the executor of a family member’s estate, the person feels honored and trusted. It’s a big responsibility, since the executor will be carrying out a person’s final wishes.

Some Common Estate Planning Scams

July 8, 2021

The Wealth Advisor’s recent article entitled “Beware of These Common Estate Planning Scams” advises you to avoid these common estate planning scams. Cold Calls Offering to Prepare Estate Plans. Scammers call and email purporting to be long lost relatives who’ve had their wallets stolen and are stranded in a foreign country. Seniors fall prey to…

My Estate is Beneficiary of My IRA

March 30, 2021

When an estate is named beneficiary of an IRA, what is the method of distributing it to one individual in the most tax-effective way?

Estate of Charles Schulz Still Making Money

February 3, 2021

Is there a person on the planet who doesn’t love the Peanuts characters? Snoopy, Charlie Brown, Lucy, Pigpen, Schroeder, and the gang are the iconic creations of Charles Schulz. In fact, it is still so popular that they earned Schulz’s estate $32.5 million over the last year, two decades since his death due to cancer.

How Much Power Does an Executor Have?

November 3, 2020

There are continuing misconceptions regarding what powers are held by a personal representative and when he can exercise them.

Do I Have to Accept an Inheritance?

October 2, 2020

No one has to accept inherited assets. Inherited assets can be disclaimed.

How Do I Handle Inheritance?

September 10, 2020

The period leading up to and shortly after losing a close relative is often one of the most emotionally demanding times that we, as humans, experience.

Can I Avoid Family Fighting with Estate Planning?

September 1, 2020

One problem that frequently stems from the inheritance process is fractured relationships between siblings. Unfortunately, the common denominator in many of these situations is the parents’ estate plan.

How Do Children Divide Mom’s Tangible Property?

July 14, 2020

One of the biggest challenges for anyone administering an estate is how to distribute what are called its tangible items. Unlike other property which can be easily sold, turned into cash and divided equally, tangible property is unique and often can’t be equally split. Its value also often can’t be measured by what it could be sold for. A family photo album may have no monetary value, for instance, but great sentimental significance.

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