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If you want to remain anonymous but didn’t purchase the winning ticket in one of those states, you have to leverage strategies and legal entities to help you remain more private when you strike it rich. There are two different strategies that are described in Forbes article entitled “How to Remain Anonymous If You Win The $1.5 Billion Powerball.” (1) Blind Trusts. The term “blind trust” has morphed to include a trust or entity that attempts to hide the true ownership from the public and asset searches. Here you create an entity (a trust or LLC) and name it something other than your name. You have 100% control of the trust, assets, and decisions. It doesn’t completely cloak the account, but it can make tying the trust to you more difficult in an asset search. (2) A Trust within a Trust. High profile lottery winners who want even greater anonymity may consider a trust within a trust structure. It’s an advanced strategy that should only be created with a qualified trust attorney. The trust within a trust requires two trusts: First, create a Claiming Trust. It’s called the Claiming Trust because this is the entity that claims the prize. As the winner, you assign the ticket to the trust. This is a short-term trust that simply claims the prize and then distributes the win to the Bridge Trust (see below). The Claiming Trust should have a unique title not related or traceable to you. Although most revocable trusts use the Social Security Number of the grantor (i.e., you – the person setting up the trust), you want to avoid this because state lottery commissions are state agencies, and their records are subject to the Freedom of Information Act. That makes it easy for a reporter (or anyone else!) to request these documents and trace the Social Security Number back to you. For greater anonymity, depending on the state lottery commission’s rules, you may be able to have a limited liability company (LLC) act as the grantor. In that scenario, the winning lottery ticket would be owned by the LLC, and it would be the grantor of the Claiming Trust. If a reporter gets a hold of the Claiming Trust, they wouldn’t see your name—just the name of the LLC. That catch is that some states have requirements when forming an LLC that would identify the name of the person who owns the LLC. So you can see how important it is to work with an attorney who is well versed in the laws of your state. Second, create a Bridge Trust. In this strategy, the lottery proceeds are paid into the Claiming Trust and then almost immediately transferred into the Bridge Trust. The Claiming Trust helps shield the true identity of the winner and makes it hard to determine the true owner. The details of this trust aren’t subject to Freedom of Information Act requests, so your name can be listed as grantor and trustee. However, because the trust name will be listed as beneficiary of the Claiming Trust—and is subject to FOIA requests—don’t name the Bridge Trust with personal information. Reference: Forbes (January 12, 2016) “How to Remain Anonymous If You Win the $1.5 Billion Powerball” #AssetProtection #HoustonEstatePlanning #BridgeTrust #HoustonTrusts #ClaimingTrust #LivingTrust #TaxPlanning #BlindTrust

“I don’t know what will happen to the things I have in the Cloud or Facebook when I die,” said Paul Savides from Eau Claire. He believes it’s very important that the state create a way of protecting the privacy rights of those people who have those things online after they die. Our digital footprint is fairly permanent, but we are not. “If there’s a way we can modernize our laws, streamline this, and create a system, we can try and take some of that stress off of people as they’re navigating already emotional territory,” said Rep. Melissa Sargent (D) Madison. Representative Sargent said she wants to bring Wisconsin law up to date with technology by getting a bi-partisan bill through the State Legislature that is aimed at protecting individuals’ online assets after they die. The definition of “property,” of course, continues to evolve over time in this more technological and more digital world in which we live. The bill tries to remedy that issue. The bill allows users to provide their account information to someone designated by them for management after they pass away. For example, Facebook has designed a legacy setting that permits users to do this. However, in the absence of those types of settings, a will or power of attorney could be used. Digital assets frequently have great value, so it’s critical for individuals to make certain that their property is protected. Wisconsin’s legislators feel that we should at least have that fiduciary standard in place to protect that data, so it’s not just released to someone only because they’re a family member. This bill, they believe, would be a solid first step in tackling the modern day issue of digital property. The bill is heading for approval in the State Senate. Reference: WEAU.com (February 25, 2016) “Law aims to protect internet users’ digital property after death” #AssetProtection #HoustonEstatePlanning #DigitalAssets #PowerofAttorney #Wills

They are unable to handle their finances, make medical decisions, dispense medications, and they may sees them regularly, there is potentially no one to make every day medical decisions or handle their finances The guardian could be responsible for handling finances every year, which would require them to do an If they are not handling finances every year, they must do an annual report for the court that gives

Talk with an experienced estate planning attorney to see if this might be applicable for your family.

Contact a qualified estate planning attorney if you own any intellectual property rights.

Thoughtful estate planning allows us to care for our loved ones even when we can no longer be with them understanding what makes one will different from another, you can embrace peace and purpose as you plan Our estate planning attorneys stay current on the state’s will drafting rules. For those with substantial assets or complex estate plans, a customized formal will crafted by a probate

NASDAQ.com’s recent article, “5 Smart Estate-Planning Steps to Avoid Probate,” explains that when you Talk to an estate planning attorney for help setting up – and “funding” – a trust. Many states have simplified their estate-planning procedures for certain property types, and you might Take the appropriate estate-planning measures for your situation now so that you can help simplify the Consult an experienced estate planning or probate attorney for advice on the best options for your specific

While the settlement fully resolves the Will contest claims of James’ children, the fight is far from over. Brown’s wife, Tomi Rae Hynie, is still contesting the Will, making the status of the Will’s validity still unresolved. About a year ago, the South Carolina Supreme Court put everything on hold. Now the only thing still in progress is the question of whether or not Tomi Rae Hynie is the legal spouse of James Brown. That issue is being heard by the Court of Appeals. It is the one issue where all the Brown children are united: they want the judge’s ruling that Tomi was Brown’s spouse overturned. If she’s his wife, she controls the money flow from Brown’s copyrights. That’s money that should go into a trust, according to the Will. If Tomi Rae isn’t Brown’s wife, the kids control that money. If the appellate court rules that Tomi Rae is indeed the legal wife of James Brown, then they’d have to next determine if the prenuptial agreement is valid. The court could hold that she’s not the wife, or they could decide it’s a jury issue. If so, this could go on for years. As it stands now, the four adult children named in the settlement would keep the property Brown wanted them to have, remove the Will contest clause, and give them $147,000 collectively. As a part of the deal, they’ll cooperate with the estate and end their legal fight. Reference: WRDW.com (January 26, 2016) “James Brown Estate: What a settlement means for other pending lawsuits” #Pearland #ProbateAttorney #HoustonEstatePlanning #HoustonWills #Friendswood #Probate #ProbateCourt #Inheritance #Clearlake #HoustonEstatePlanningLawyer #Webster

But the children’s attorneys disagree and plan to appeal. The kids’ attorneys plan to appeal the ruling because the previous wills show undue influence and how signature: the only witnesses present for the will signing were company employees or officers who had a financial

Dawn, who was just three years old when tragedy struck, claims her aunts’ recent accusation that her dad was responsible for the unsolved murder was intentionally hurtful and has no bearing on their fight over the estate. An article from DNA Info entitled, “Keep My Mother’s Murder out of Our Family Court Battle, Daughter Says,” explains that Dawn and her two aunts are fighting over the will of her grandmother and their mother, Marcia. The aunts claim that Dawn and her dad and lawyer Mitchell Lapidus stole at least $10 million in the last years of Marcia’s life, when she was mentally incapacitated. The aunts believe that Franklin Mark hired a hit man to kill his wife, Gail, in 1982. The two brought up the murder in the court case because they want to depose Lapidus, who helped draft Marcia’s final will. The will leaves $8 million to the United States Holocaust Memorial Museum and the remainder of her estate to Dawn, according to court records. Whether the tactics will work in challenging the will remain to be seen, but the New York Police Department re-opened an investigation into the murder after the website’s story. Reference: DNA Info (November 19, 2015) “Keep My Mother’s Murder Out of Our Family Court Battle, Daughter Says” #EstatePlanningLawyer #ProbateAttorney #HoustonEstatePlanning #WillChanges #HoustonWills #ProbateCourt #Inheritance #HoustonProbate

for the late publisher Richard Mellon Scaife unduly influenced the billionaire to change his estate planning Jennie claims that this 2010 change “was all part of a carefully orchestrated plan by Gutnick to prohibit

While a Medigap plan will pick up many of the costs for services that aren’t covered by Medicare, it No. 5: There’s not much I can do to plan ahead. Think again.