According to the New York Post, the grandmother of Luigi Mangione, alleged killer of United Healthcare CEO Brian Thompson, left Mr. Mangione and her other heirs a substantial fortune when she passed away in 2023. The Post and other sources estimate an estate worth between $30 million and $100 million, which is apparently held in Trust for the family. However, …
How a Second Trump Term Might Impact Your Estate Plan
The election of Donald Trump as president could affect estate planning in several ways. Here are some key areas where a Trump presidency might influence estate planning: 1. Estate Taxes: One of the most significant changes could come from the federal estate tax. Under the first Trump administration, there was a push to reduce or even eliminate the estate tax. …
Under My Skin: Siblings Fight Over Tony Bennett’s Estate
Tony Bennett will be remembered for his distinctive, smooth voice on songs like “I’ve Got You Under My Skin”. He launched his career in the 1950s during the rise of rock ‘n’ roll, a time when artists like Elvis Presley dominated the charts. Unlike these rock icons, Bennett chose to focus on sophisticated vocal artistry, in the tradition of crooners …
The Murdoch Family Trust: When Irrevocable is Revocable
Billionaire media mogul Rupert Murdoch established the Murdoch Family Trust in 1999, as a condition of his divorce from his second wife, Anna Murdoch Mann. The Trust ensures that the family’s 28.5% stake in News Corporation- which is valued at approximately $6 billion and includes Fox News, The Wall Street Journal and the New York Post- be passed down equally …
What are the responsibilities of a trustee?
When establishing a trust, it is essential to choose the correct trustee to help manage it. A trustee is an individual or entity entrusted with managing and administering a trust according to its terms and the best interests of the beneficiaries. The Role of a Trustee Selecting the Right Trustee Selecting a trustee is a critical decision in the estate …
What’s the difference between per stirpes and per capita distribution?
One of the key considerations in estate planning is deciding between per stirpes and per capita distribution methods. While both approaches aim to distribute assets among descendants, they differ significantly in their execution and implications. It’s important to understand the difference between both distribution methods when deciding how you want your estate to be administered. Per Stirpes Distribution Per stirpes, …
O.J. Simpson’s Estate Battle
O.J. Simpson’s Estate Battle O.J. Simpson, once known as “The Juice” for his illustrious football career and later as a Hollywood personality, faced legal troubles in the 1990s. In 1994, he was tried and acquitted of the murders of his ex-wife, Nicole Brown Simpson, and her friend, Ron Goldman. However, in a subsequent civil trial in 1997, he was found …
How to Avoid Family Disputes During the Probate Process
The death of a loved one is heartbreaking. In the midst of grief, families often find themselves confronted with another complex problem: probate. In the state of New York, probate—the legal process of validating a will and distributing assets—can sometimes lead to family disputes, further adding to the stress during an already difficult time. In order to avoid fighting with …
What is a revocable versus irrevocable trust?
In the estate planning world, trusts are powerful tools to manage assets, protect legacies, and provide for loved ones. For individuals in New York, two common types of trusts often come into consideration: the revocable trust and the irrevocable trust. Both trusts offer their own advantages. It’s important to know the difference between the two in order to decide which …
Navigating Wendy Williams’ Guardianship
In the realm of entertainment, few personalities shine as brightly or provoke as much discussion as Wendy Williams. From her unfiltered commentary to her fearless approach to celebrity gossip, Williams has carved out a unique niche in the industry. However, the release of her new documentary titled, “Where is Wendy Williams?” has sparked controversy and raised concern about Williams’ autonomy …
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