In a surprising move, the GOP tax plan includes a hit to one of the places where wealthy people like to contribute in their estate plans: college endowment funds.
Many wealthy people have hopes of leaving a legacy and using their money to do good things. While they donate to all sorts of different charities, many like to give money to their alma maters’ endowment funds.
Over the years, so much has been given to the most prestigious schools in the nation, that those schools have been criticized for charging high tuition when they have millions of dollars in their...
Some people will go a long way in their efforts to claim that they are the heir to a valuable estate, when they are not really related to the deceased. That can be a problem.
Recently the remains of Salvador Dali were exhumed by an order of a court in Spain.
A woman named Pilar Abel claimed to be Dali’s daughter and entitled to a portion of his estate. She convinced the court to exhume the body, so DNA testing could be conducted.
As it turns out, the DNA testing revealed that Abel was not related to Dali.
Including a no-contest clause in a will can be a powerful deterrent to challenges to the will. However, they have their limitations.
Sometimes it is possible to foresee that a family member or other person may not be satisfied with the inheritance planned for them through a will. For example, a child who receives a smaller portion of a parent’s estate than other children, might not be happy about it.
This can lead to the unhappy person seeking to challenge the validity of the will.
One way to help prevent that is through the use of a no-contest clause.
Lacking an official place to bury their beloved pets, the citizens of Belgrade, Serbia have turned to clandestine methods. They have created hidden pet cemeteries in the city’s parks.
It used to be that cities did not worry too much about what to do with residents’ deceased pets. Most people were content to dispose of the remains through cremation or to allow the local authorities to dispose of the remains however they wanted.
Many people today treat their pets like they were members of their families. They often leave their pets inheritances and, in some cases, create elaborate trusts for...
Having failed to secure a portion of her father’s estate in California, the daughter of Douglas Tompkins has taken her case to the courts of Chile.
The founder of Esprit and North Face, Douglas Tompkins, was also a conservationist who was best known for purchasing large amounts of land in Argentina and Chile for preservation.
He passed away in 2015 with a sizeable estate. However, he did not leave any of it to his two daughters or five grandchildren.
Tompkins left everything he had to his second wife, who was not the mother of his children.
Tompkins and at least...