We’re devoting several of our Hoosier Estate Planning blogs this month to estate planning mistakes made by celebrities. We hope our clients learn from these stories and avoid making those same mistakes. In his will, famous baseball player Ted Williams said he wished...
As a way of helping our clients learn from other’s mistakes, we’re devoting several of our blog posts this month to describe estate planning pitfalls by recalling some big mistakes made by celebrities. Unlike music legend Jimi Hendrix, who died at 27 without a...
We can all learn from our mistakes, but it’s better to learn from others’ mistakes, I think you’ll agree. This month in our Hoosier Estate Planning blog, we’re learning about pitfalls to avoid by recalling some big estate planning mistakes made by celebrities....
Music legend Jimi Hendrix was only 27 when he died. It’s always tragic when someone loses his life at such a young age; in Hendrix’s case, his death was also a financial tragedy for his close brother, Leon. Why? Jimi died without a will, and, under California state...
Estate planning is no longer about just death and death taxes, Seth Kaplan and Josh Goldglantz point out in Financial Advisor magazine. That’s particularly the case with Generation X (those born between the early 1960s and the early 1980s). Just some of the issues Gen...
When it comes to estate planning, you might say assets are assets, except when those assets are in an Individual Retirement Account. It’s not enough, for example, to simply divide your total assets equally among your three children – at least not if some of those...
Yes, you can avoid many problems by securing your important documents, and telling your family where they are stored, concedes Saaabira Chaudhuri, writing in the Wall Street Journal. But that isn’t to say you should keep everything, she warns. “Sometimes people hold...
Since estate planning is really about the next generation rather than about one’s own, it quite often occurs that our conversations with Geyer Law clients “branch off” into discussions about the best way to pass on wisdom about money management to younger family...
It is not uncommon for families to make loans to children or other family members in need of funds. “Wealthy families often run a ‘family bank’ with advances to various family members as they have liquidity needs,” explains americanbar.org. While it may be tempting...
“Just as you’re beginning the painful and exhausting process of grieving for your parent’s death, you learn that you’ve basically become secretary of his or her death,” observes Lucy Mueller of gobankingrates.com.“Being the executor of a will involves a process that’s...
