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Their plans may change over time, especially after important life events, like the birth of a grandchild Talk with your estate planning attorney. #HoustonAssetProtection #EstatePlanningLawyer #CaringforParents #ProbateAttorney #ParentsFinances #PlanningfortheFuture

This article is based on a conversation by Kim Hegwood, estate planning and elder law attorney, and Ruth At Your Legacy Legal Care, we assist individuals with dementia in putting a plan in place for long-term To schedule a strategy session to discuss estate planning or elder law, call our office at (281) 218-

The judge believes the resolution is in the teen’s best interests. Kira told the judge that she did not object to the settlement but needed more information than what has been given her by her guardian ad litem, Michael Augustine, who was appointed last September to advocate for the teen’s interests. Augustine denied the claim that he did not keep Kira informed about the settlement. He said he was pleased that the settlement was approved. He filed the will contest petition on behalf of the teenager and argued that when Kirk’s will was created, its beneficiaries “knew or should have known (Kirk Kerkorian’s) health was failing, that he was dependent on the persons surrounding him for his daily living needs and that he was highly susceptible to the influence of the persons on whom he depended.” Augustine’s petition also claimed that the will’s beneficiaries took advantage of the trust and confidence that Kirk placed in them and “suggested and dictated the contents of the document, arranged for the document to be drafted, arranged for execution of the document and caused (Kirk Kerkorian) to execute the document.” Kirk Kerkorian was obligated to provide $7 million to a trust created on Kira’s behalf based on his marital settlement agreement with ex-wife Lisa, the teen’s mother. Under the will contest settlement, another $1.5 million will be given to the teen’s trust. Lisa Bonder Kerkorian was married to Kirk for less than a month in 1999, and he denied during his lifetime that he was Kira’s father. However, he grew fond of the girl and decided to provide for her nonetheless. Kerkorian died last June at age 98. He developed numerous properties on the Las Vegas Strip, such as the MGM and MGM Grand. Kerkorian also invested in and operated businesses in a number of industries—including airlines, automakers, Chrysler Corp., General Motors and film studios. He bought MGM Studios three times, bought United Artists and tried to acquire Columbia Pictures. Reference: myLAnews.com (March 1, 2016) “I am my rich father’s child! Teen gets $8.5M as bio daughter of Kirk Kerkorian” #WillChanges #HoustonWills #Probate #ProbateCourt #Inheritance #LeagueCityProbateAttorney #HoustonEstatePlanningLawyer #Trusts

joint owner with right of survivorship A beneficiary is already designated on a life insurance or a retirement

This is an important document to have, so discuss its ramifications with an estate planning attorney and ask about other estate planning documents such as wills, durable powers of attorney for finances,

The $500 million estate transferred ownership of the properties the elder Spitzer acquired, according to property records recently filed with the city. Spitzer, now an active developer, put a sizable stake of 1050 Fifth Avenue—a 20-story, 90-unit rental building his father developed in 1960—into the Bernard and Anne Spitzer Charitable Trust, along with shares of 30 co-op units. The trust has been a big patron of organizations such as the Public Theater and City College. Bernard Spitzer stipulated in his will that about $250 million of his wealth should be left to charity. Spitzer also transferred interests in properties—including the $88 million Hudson Yards development site that Spitzer Engineering bought in 2013—to his siblings and himself. He also put another development bought for $165 million in February by the family business into a charitable trust set up for his mother. Spitzer Engineering has been selling some of the company’s top properties, such as the Crown Building, which went for a record-setting $1.78 billion in April. Reference: The Real Deal (December 18, 2015) “Eliot Spitzer has started splitting up late father’s empire” #EstateTax #TrustsandEstates #HoustonEstatePlanning #HoustonWills #FamilyTrust #CharitableTrust

However, US News tells us in “How to Buy a Retirement Home with a Reverse Mortgage“ that you can also This is nice for folks who want to relocate and can’t afford mortgage payments in retirement or are unable Evaluate the decision to use a reverse mortgage as part of a total financial plan. Reference: US News (November 30, 2015) “How to Buy a Retirement Home with a Reverse Mortgage” #HoustonAssetProtection #HoustonEstatePlanningLawyer #PlanningfortheFuture #ReverseMortgage

is a poignant reminder that there are laws dictating what will happen if you fail to make an estate plan It is a stark look at the current intestacy system, and a reminder that without an estate plan in place After someone has died without an estate plan in place we can’t guess what they would have done in an alternate universe where they executed an estate plan. If you are ready to make sure your estate planning wishes are respected, we are here to help.

The power of attorney is a powerful legal tool that requires careful consideration and planning.

Indiana Lawyer recently published “Do-it-yourself dangers” that explains how do-it-yourself estate planning He had wanted his estate to be shared equally among his children, but because the DIY estate plan wasn There are also document-recording peculiarities in each state that estate planning attorneys know and Many people may start with simple estate planning documents online but then see that they need to purchase meet your goals and provide the peace of mind that comes from not worrying about whether the estate plan

Among parents who had created a will, 61% of those with stepchildren and biological children planned An estate planning attorney can provide valuable guidance.

As Texas-based estate planning attorneys, we have seen firsthand the pitfalls people face as they administer