In 1977, a celebrity suffered a heart attack and passed away with an estate of about $10 million dollars. Of that $10 million, about 70% was wiped out from taxes and fees, resulting in a net estate of $3,000,000. So, whose estate was this, and how did they end up losing $7,000,000 of their assets?
Keeping the Marital Home Vs. Renting After a Divorce
For many people going through a divorce, a common decision that needs to be made is whether to keep the marital home. At first glance, the person considering remaining in the home may feel like the monthly cost is lower than renting. However, divorcees need to complete a careful analysis to ensure all costs of homeownership are factored in.
Estate Planning: Assigning Control of Your Financial and Healthcare Decisions
Anyone who has watched the Britney Spears conservatorship saga unfold in the news recently can appreciate how distressing it is when a person loses control of their financial life. Britney's situation highlights the importance of proper planning and the downside of having a court decide who is best to act as someone's caretaker.