Facebook has become a hotspot for all kinds of users, but one of the challenges presented to the company was how to handle what happened to an account after someone passed away. Without password access, there was no way for loved ones to login and either eliminate the account or figure out a way to [...]
If you checked out yesterday’s post and think that you may have a copyright or patent, or that a loved one does, it’s important to protect such an asset with estate planning. There are two complex facets involved in estate planning for intellectual property, and both can be explored with the questions: What is the [...]
Do you own a copyright, patent, or some other form of intellectual property? These assets might not be tangible, but they certainly can be valuable. In this first post, we’ll discuss the basics behind patents and copyrights. There are four primary categories of intellectual property that may be involved in your estate plan: Trademarks Trade [...]
Around the world, there are more than 15 million people caring for someone who suffers from Alzheimer’s. While many of these individuals are aware of the physical and emotional toll this can take on family members and other caregivers, the financial repercussions are also big. According to a survey by AgingCare.com, 25 percent of people [...]
From the wars in Iraq and Afghanistan alone, the Washington Post reports that more than half of the 2.6 million Americans sent out, struggle with mental or physical health problems upon their arrival home. These health problems stem from the veteran’s time in active military service, more often than not. If you know someone who [...]
A Chevrolet truck presented to Tom Brady for recognition as the New England Patriot’s MVP during the Super Bowl will instead pass to his teammate, Malcolm Butler. If Brady had received the truck and decided to pass it on to Butler as a gift, the vehicle valued at $35,000 may have created a taxable income [...]
The sole heir to Whitney Houston’s estate, Bobbi Kristina Brown, has been in a medically-induced coma since the end of January. The $20 million worth of assets inside the estate is now in question, especially since recent reports indicate her family intends to remove Bobbi from life support. The estate includes all of the royalties [...]
When a trustee becomes incapacitated or passes away, a successor trustee takes their place. In addition to managing the duties held by the previous trustee, the successor must also demonstrate proof of a certificate of trust or affidavit regarding their power over the trust. The successor trustee may carry on a range of responsibilities related [...]
The four-part series on Special Needs Planning draws to a close this week, with a focus on taxes within a Special Needs Trust. Visit the three earlier blog entries this month for the most frequently questions Morton Elder Law receives about Special Needs Planning for your child. Image Credit Question: How is the income of [...]
In the wake of the last recession and an increase in competition throughout many markets, businesses can do a lot for themselves by planning ahead with regard to succession. In many cases, doing this can help to mitigate the risks associated with an unclear future. For family-owned businesses, one of the stages of their lifecycle [...]
