By Russell J. Fishkind
AARP electronic variations give you useful assistance, confirmed strategies, and professional guidance.
Surrogate court docket dockets are choked with instances regarding kinfolk combating over the resources and intentions of a deceased father or mother or wife. Probate Wars of the wealthy & recognized: An Insider’s consultant to property making plans and Probate Litigation tracks the property litigation instances of Anna Nicole Smith, Brooke Astor, Michael Jackson, Nina Wang, Jerry Garcia and Leona Helmsley and identifies the 5 common components that prompted such disputes. every one bankruptcy offers property making plans insights designed to aid members plan their estates with no inflicting litigation. If, notwithstanding, probate litigation can't be shunned, the ebook additionally offers important classes approximately undue impression claims, the way to get rid of a fiduciary, challenging an property accounting and claims looking to put aside lifetime transfers that undermined the decedents intentions. Few - if any – property making plans books utilize...
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Extra resources for AARP Probate Wars of the Rich and Famous. An Insider's Guide to Estate and Probate Litigation
In addition to practicing law, Mr. Fishkind is an associate adjunct professor at New York University’s Department of Finance, Taxation and Law, where he has been teaching Estate and Business Succession Planning in the evenings for more than 15 years. His classes are interactive and chock full of celebrity probate litigation cases to help illustrate the need for effective estate and business succession planning, or strategies to implement when probate litigation is necessary. Mr. K. Lasser’s Estate & Business Succession Planning—A Legal Guide to Wealth Transfer.
Alternatively, spouses negotiating a prenuptial agreement may agree to waive the elective share claim, and then agree upon the distribution of assets in the event of one spouse’s demise. For example, if J. Howard Marshall II and Anna Nicole Smith entered into a prenuptial agreement, and she waived her right of election, but agreed instead to a fixed bequest of $20,000,000 or a fixed percentage of the gross estate, say 5 percent, then little would be left to chance or interpretation. Note, however, when using a percentage of the gross estate, sometimes beneficiaries battle over the valuation of an asset that is part of the estate, by way of example, a business interest, intellectual property rights, or royalties.
AARP is a nonprofit, nonpartisan membership organization that helps people 50 and older improve their lives. For more than 50 years, AARP has been serving our members and society by creating positive social change. AARP’s mission is to enhance the quality of life for all as we age; lead positive social change; and deliver value to members through information, service and advocacy. This information in this book is for educational purposes and does not constitute financial advice. Contents Acknowledgments About the Author Chapter 1: Legacy of a Lifetime Legacy Lesson #1: The Estate Planning Effect Legacy Lesson #2: Passing the Torch without Getting Burned Legacy Lesson #3: The Holistic Approach Legacy Lesson #4: Dropping the Gauntlet Chapter 2: Stripping and Being Stripped Legacy Lesson #5: The Elective Share and Prenuptial Agreement Legacy Lesson #6: Providing Equitably Both for a Second Spouse and Children from a Prior Marriage Legacy Lesson #7: Disinheriting a Family Member Chapter 3: The Astor Disaster: A Legacy of Influence and Undue Influence Legacy Lesson #8: Monitor the Health and the Wealth of a Loved One Who Is III and Vulnerable Legacy Lesson #9: Anatomy of a Contested Estate Legacy Lesson #10: Influence or Undue Influence?