Tom Petty is in good company, not just as a rock-n-roll legend, but as another star whose estate is in turmoil. The plethora of lawsuits are Free Fallin’ as Petty’s wife, Dana, and the two daughters from a previous marriage, Adria and Annakim, fight over control of the $95 million he left behind. Unlike Aretha...
My parents were depression-era babies. And like many of their generation who experienced those years of economic desperation, when things improved, they planned and saved for the future to avoid that kind of distress ever again. They taught me to do the same. But there was another philosophy prevalent among...
Alhambra's Bob Williams discusses whether a trust should be your IRA beneficiary rather than an individual.
Probate is a term most people have heard. It’s the court process required to settle an estate when a Will was used as the estate planning tool. What most people don’t know is that there are two types of probate—Common and Solemn. The executor chooses the one that is...
No question about it, Americans are living longer. My own family is a perfect example. My great grandfather died at age 65. My grandpa died at 82. My dad passed when he was 90. Longer lifespans are becoming much more common. And with that longevity often comes added responsibility...
We’ve been focused on Covid for so long that a lot of things have taken a back seat. We’re still regrouping, trying to find the new normal. Estate planning is one of the things that’s easy to forget in this new normal. Why not? You did the estate planning,...
When the 2017 Tax Cuts and Jobs Act (TCJA) was passed it changed the rules about deductions for charitable giving. Under current law the only way to deduct charitable gifts is to itemize on your tax return. Because of that, giving to charities has fallen substantially. In 2018 almost 32 million Americans made charitable donations....
You’ve done all the planning. Your trust is set up. You’re comfortable that your estate will be distributed exactly as you want. There’s just one more decision to make—an important one. Who should be the trustee? James J. Ferraro, JD is vice president and legal counsel at Argent Trust Company....