Blog Posts in May, 2012

  • Social Media Wills for New Yorkers Might Be a Good Idea

    || 30-May-2012

    New Yorkers probably don't think of Facebook when they think about estate planning, but the federal government thinks citizens should. A "social media will," as the government dubs it, seems silly at first, but unique problems have cropped up. As social media intertwines with both business and personal affairs, it is important to make plans for their accounts after death. Some states ...
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  • Parents try to treat their children as fairly and equally as possible. Any other way can lead to squabbling and tantrums by kids who think they've been shorted. When it comes to one of parents' biggest gifts to their children -- inheritance -- there are many reasons to treat children a little differently. This can be hard to understand for parents because they love their children equally. ...
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  • Pepsi Heirs Sue in New York for Family Documents

    || 16-May-2012

    Coca-Cola ads often refer to the cola's secret formula, but competitor Pepsi's taste secrets may soon come to light. The heirs of the man credited with creating the familiar Pepsi taste have filed suit in New York for the right to release historic documents currently in the family's possession. The case illustrates the powers of heirs to protect an estate and its assets. Disappointed ...
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  • New York Man Defrauds Elderly Grandfather

    || 7-May-2012

    The grandson plundering vulnerable grandfather's assets-it doesn't just happen in movies. A New York man defrauded his grandfather of more than $300,000 while acting as his court appointed guardian, making any estate planning all for naught. The elderly man was unable to manage his estate because of incapacitating dementia. When a family and probate court appointed the man guardian in 2006 ...
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  • New Yorkers and Americans nationwide may face cuts to their Social Security and Medicare payments because the programs could be headed for insolvency in the coming decades. Those depending on the payments may need to rethink not only their retirement plan but also their living will and estate planning because less assistance from the program means more out-of-pocket expenses during retirement. The ...
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  • A New York couple is accused of stealing more than $1 million from their disabled son's trust after his death. The boy was born disabled because of negligent medical care during his delivery. His supplemental needs trust was established when the hospital paid $2 million after a lawsuit. Supplemental needs trusts are often created to ensure special needs children still qualify for public ...
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