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...
When the specific reasons that an older person originally purchased life insurance no longer exist, that person might be tempted save money by no longer paying the premiums. That can be a mistake.
Most people purchase life insurance for specific reasons. The most common reason to get a life insurance policy is to make sure that a spouse or other family members have financial support after the policy-holder passes away.
However, if a spouse predeceases the policy holder or if the other family members are no longer in need of support, then many people think that continuing to pay the...
People who want to have their remains treated in a way that is environmentally friendly, have not had too many options. However, a new cremation method may be the answer.
Some people today are more concerned about their environmental footprint than ever before. They are even willing to pay more for cars that are cleaner, even if those cars go slower than others.
People will go out of their way to recycle their garbage and use green products. However, people who want an environmentally friendly final resting place do not have many options.
The best option for most people is...
In the U.K., taxes on estates are handled differently than in the U.S. They also tax gifts differently.
The recent death of Bruce Forsyth, a television personality in the U.K., is a good opportunity to show how the U.K. and the U.S. treat taxes on gifts and estates differently.
In the U.S., we have an estate tax on estates that exceed the exemption amount. Currently, that amount is $5.49 million per taxpayer (increasing to $5.6 million on Jan. 1, 2018).
The estate must pay tax on the value above the exemption amount, before any assets are distributed to heirs.