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When O.J. Simpson passed away recently, he left behind several unpaid creditors. Two high-profile creditors are the Goldman and Brown families who have unsatisfied civil judgments from their wrongful death lawsuits. A resident of Nevada, Simpson’s will has been...
A private split dollar arrangement is an estate planning strategy that allows individuals to set up an Irrevocable Life Insurance Trust (ILIT) providing money for heirs while minimizing gift and estate taxes. It is one of many tools that allow wealthy individuals...
A Will is an essential legal document that sets forth how you want your assets to be distributed upon your death. However, in some instances, your beneficiaries may want extra assurances that they will receive what was promised to them because they are concerned...
Trusts are one of the most commonly utilized tools in estate planning. A significant benefit of a trust is that it can last for many generations depending on how it is drafted. However, that can also be a downside. Sometimes, due to the evolution of laws and other...
Few people can match the $1 billion donation of Ruth Gottesman to the Albert Einstein School of Medicine endowing the school to be forever tuition-free. However, incorporating charitable giving into your estate planning offers considerable rewards even at...
1. Immediate Access to Funds Number one being immediate access to funds. Many people don't realize that with using a will to dispose of their assets, they have to probate the will, so the original will has to be found, submitted to the court. An executor has to be...