Tag Archives: guardianship of a minor

Do you want to stay next to your pet forever?

The Virginia legislature recently amended state burial law to allow cemeteries to provide designated spaces for burying pets in caskets next to their owners.

Prior to passage of the new law, cremated remains of a pet could be buried in the casket with the deceased or the body could be interred in a pet cemetery adjacent to one for humans.  An example cited in an article in the Martinsville Bulletin prior to passage of the new law is Noah’s Ark, a pet cemetery, that is adjacent to National Memorial Park Cemetery in Falls Church, VA.

The new measure is intended to help people who think of their pets as family members and who want them buried with them.  The law specifies that pets and owners cannot share the same grave, crypt or niche and the pet section of the cemetery has to be clearly marked.

Now that the measure has passed, a couple can buy three adjacent plots – one for each of them and the one in the center for their beloved pet. 

A few years ago, the New York legislature passed a law allowing humans to be buried in pet cemeteries along with their pets.  However, pets still cannot be buried in cemeteries intended for humans.

Burial of a pet with its owner after death is a topic that has spurred a lot of discussion and emotions but very few states up to now have tried to deal with this issue.

For more information about end of life planning, go to www.diesmart.com.

Another actor did it wrong. Do you have your plans in place?

Julie Garber, in her weekly blog, wrote about another person who did it wrong.  When actor Paul Walker died in a terrible car crash on November 30th, 2013, he left an estate estimated to be worth at least $45 million.  However, he had done no estate planning and left no will.  He was only 40 years old and probably thought he had plenty of time to get his affairs in order.  His parents, ex-wife and girl friend of seven years are now fighting over who should inherit.

According to California intestate laws, the entire estate should be inherited by his daughter, Meadow.  Since she is only 15, someone needs to be responsible for managing to estate until she turns 18.  Her mother is her guardian but is not necessarily the one who will control the money on her behalf.  Since her parents believe they should manage the estate, the case will have to go to probate court.

And what about his long term girlfriend, Jasmine?  She won’t see a penny.

Have you done estate planning?  Is all of your paperwork in order?  Or are you, like Paul Walker, leaving a mess for  your loved ones?

For more information about estate planning, go to www.diesmart.com.

One person is the biggest loser – Settlement of the Huguette Clark will dispute

Awhile ago we told you about Huguette Clark, a reclusive multimillionaire who died at the age of 104. 

She wrote two wills about six weeks apart.  In the first one, she left the majority of her $300 million estate to her relatives, many of whom she had not seen in many years and some who she had never met.  The second will directly cut out all of her relatives and left $30 million to her private duty nurse, Hadassah Peri, gifts to her lawyers and accountants and funds to create an arts foundation at her $85 million mansion, Bellosguardo, in Santa Barbara, CA.

Some of her relatives contested the will, claiming that she had been unduly influenced by her caretakers.  The case was supposed to go to court but, just as jury selection was about to begin, the case was settled out of court.  An 81-page settlement agreement was presented to the judge and was approved.

19 heirs of Huguette Clark will receive $34.5 million with estate taxes and $11.5 million in attorney fees paid by the estate.  Another big winner in the settlement is the charitable arts foundation that will be created to maintain Bellosguardo.

The biggest loser is her nurse.  Hadassah Peri will not receive the $30 million she was given in the first will and, in fact, will have to pay back $5 million of the $31 million she was given during Huguette Clark’s lifetime.

Those of you who read this blog may not have $300 million and so may think that having a good will, written when there is no question of your mental state, may not be that important.  But it is.  Unless you want your family to have to go to court and fight for what they think they deserve, put your wishes in writing NOW and, if possible, share those wishes with your loved ones so they will know what to expect and can ask any questions they may have….while you can still answer them.

For more information about wills and other issues related to end of life planning, go to www.diesmart.com.

 

One week to be aware of – National Estate Planning Awareness Week

The week of October 21st is National Estate Planning Awareness Week.  It’s a good time to think about what you want to have happen to your estate when you die.   It really all boils down to how you’ve titled your property and who actually owns what.

There’s a really good article by Julie Garber  that sums it up and gives you specifics to think about.  Read it, decide what you want to do and get started.  You never know what the future will bring and it’s best to be prepared.

For more estate planning information, go to www.diesmart.com.

 

 

 

 

Same sex couple employment tax filings – know what to do?

The IRS recently issued a series of tax revisions that directly impact same sex couples.  Some of them are related to the filing of income tax returns and deductions that are now legal.  This 60 second tip from Robert Keebler, CPA,may give you some information you may need.

Listen now.  It may save you some money.

For more information about the new laws or estate planning, go to diesmart.com.