Asset Protection Archives | Downs Law Firm, P.C.

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.

Why was Widow of Henry Ford II in a Fight over the Estate?

July 8, 2020

The heirs to Henry Ford II – the eldest grandson of legendary Henry Ford – filed a legal challenge against their late patriarch’s attorney, Frank Chopin, who is now the champion of Ford’s widow, Kathleen DuRoss Ford, 80.

What Do I Do If I’m Named Power of Attorney?

June 5, 2020

Has a loved one named you their financial power of attorney? Are you ready to take on all the responsibilities that entails? Hopefully, you won’t be called into action anytime soon, but with the coronavirus pandemic continuing, it’s something to think about.

Handling Inherited Investments?

February 20, 2020

Receiving an inheritance can be a double-edged sword. On the one hand, it’s overwhelming, thanks to the intense emotions associated with losing a loved one combined with the confusion about what to do with the newly acquired assets. On the other, an inheritance can re-invigorate your finances and create new opportunities for you and your family.

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