July 2014 Archives
Philip Seymour Hoffman left everything to longtime girlfriend
Actor Philip Seymour Hoffman, who died of a drug overdose earlier this year at the age of 46, reportedly did not leave any of his substantial estate to his children, electing instead to leave everything to his longtime girlfriend and mother of his three children.
Review your estate plan regularly to keep it up to date
People often think of estate planning as a “set it and forget it” event, but the truth is that an estate plan usually must be revisited periodically to make sure that it is up to date. It is generally a good idea to work with your lawyer to review your estate plan at least once every few years, even if nothing significant has changed in your life or financial circumstances. By doing so, you can ensure that your estate plan is up to date with regard to the latest tax and estate planning laws.
Lou Reed estate plan provides a lesson on privacy
When legendary musician Lou Reed passed away last year, he left an estate worth an estimated $30 million. However, he did so in a way that exposes his heirs to publicity that he may or may not have anticipated. The story draws attention to an important issue for anyone planning an estate in California -- even those of somewhat more modest means.
Healthcare planning can help avoid family disputes
Glen Campbell, the country music star who made California his home for many years, has been battling Alzheimer’s disease since 2011. Recently, his wife says, his condition has worsened to the point where he needs around-the-clock professional care. Unfortunately, other members of the family disagree.
