For the Love of Your Family
For the Love of Your Family
Self-made millionaires are not uncommon in the dotcom era, but their fortunes pale in comparison to those of the ten richest families in America. These families weren’t overnight successes, but their fortunes have stood the test of time and are the result of strong family ties and very smart estate planning. 1.Walton ($130 billion) One […]
Read MoreWhether your estate is modest or movie star worthy, the value of a good estate plan, properly handled, cannot be underestimated. A comprehensive plan can mean the difference between an expensive and unnecessary “time spent in court headache” for your loved ones or an easy “in your lawyer’s office” transition that allows your family time […]
Read MoreA celebrity’s image and likeness can continue to produce considerable income after death. This type of intellectual property is considered part of your estate, and the IRS can tax its value. In the case of pop star Michael Jackson’s estate, that recently meant an IRS bill to the tune of $64.5 million, years after his […]
Read MoreIf you have ever met someone who repeatedly sabotaged their life or seemed to have a hard time moving things forward, despite the best of intentions, it may be that they were dealing with unprocessed grief. Most people have never been taught to deal with grief and as a result are stuck dealing with confusing […]
Read MoreEven after death, celebrities are highly publicized for their mistakes, many of which we make ourselves. This time last year, superstar musician Prince died suddenly, leaving no will, and the management of his substantial estate fraught with legal complications and added costs. It’s easy to assume that the wealthiest among us have all their ducks […]
Read MoreWe may not think about it often, but even celebrities take care of their aging parents. Actress, singer, and songwriter Queen Latifah plays an active role in caring for her mother, Rita Owens, who was diagnosed with heart failure more than 10 years ago. Owens learned of her condition when she passed out at work […]
Read MoreStarting a new family is always exciting and even a tad scary. This natural apprehension can be enhanced when a couple creates a blended family. Bringing children from different parents together presents challenges – and those challenges are multiplied when the couple have new children of their own. Former American Idol star Kelly Clarkson recently […]
Read MoreThe untimely death of superstar Prince has brought a surprising issue to American living rooms: estate planning. If current reports are correct that Prince died without a will, state law and the Court system will dictate who controls and inherits his sizeable estate. It is also likely that taxing entities will take a bigger bite […]
Read MoreWhen I heard that Mark Zuckerberg and his wife, Dr. Priscilla Chan, were donating 99 percent of their Facebook shares — currently worth more than $45 billion — to charity, I immediately assumed they had been the beneficiaries of smart family wealth planning advice and would be funding a private foundation that could be used to save money on […]
Read MoreThe shock over the death of 47-year-old SurveyMonkey CEO Dave Goldberg, husband of Facebook COO Sheryl Sandberg and the father of two small children, continues to resonate for many reasons. First, he was so young, how could this happen? Second, they are so rich, how could this happen? Money, youth and success are no deterrents […]
Read MoreThere is much to be learned from the mistakes of others and the celebrity world abounds with cautionary tales when it comes to estate planning. Even with all the financial resources available to them, celebrities can neglect the basics when it comes to protecting assets. We come across sad tales all the time of “regular” […]
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