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Bielski Law Office, Ltd.
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Many people are choosing to invest in cryptocurrency to take advantage of high returns. They need to plan for how their loved ones will handle their accounts, after they pass away. There are many very strong opinions about cryptocurrency, like Bitcoin, and their current markets. These new forms of digital... Continue reading
Posted Jul 7, 2017 at Bielski Law Office, Ltd.
The IRS has issued a new rule that once again makes filing for an extension of time to make a spousal portability election simpler. Making a spousal portability election, allows a surviving spouse to utilize a deceased spouse's estate tax exemption when the surviving spouse passes away. It can be... Continue reading
Posted Jul 6, 2017 at Bielski Law Office, Ltd.
The best time to protect yourself against possible elder abuse is to do so long before it could ever be an issue. Both federal and state governments have recently started to pass laws to address the growing incidents of elder financial abuse in the U.S. While these laws are good... Continue reading
Posted Jul 5, 2017 at Bielski Law Office, Ltd.
Many people would like to be buried in non-traditional ways. While some alternative funeral ideas are good ones, not all of them are, as a recent example in Nevada makes clear. A 92-year-old member of the Barstad family of Nevada had a request for his funeral. He wanted to receive... Continue reading
Posted Jul 4, 2017 at Bielski Law Office, Ltd.
It is traditional for parents to give any inheritances for their children in their estate plans for the children to receive after they pass away. However, some people prefer giving that money to their children before they pass away. People who have more income than they need for their own... Continue reading
Posted Jul 3, 2017 at Bielski Law Office, Ltd.
Technological changes have made it possible for actors to continue working after they pass away. Celebrities need to plan for how that should be handled. In the old days, the families of deceased celebrities had limited options about how to continue earning money off the celebrities. The families could license... Continue reading
Posted Jun 11, 2017 at Bielski Law Office, Ltd.
A recent trend is wealthy people spending vast sums to fund research into cures for diseases that family members suffer or died from. That can be great, but it can also create problems. Getting funding to research and possibly cure rare diseases has never been the easiest thing for scientists... Continue reading
Posted Jun 10, 2017 at Bielski Law Office, Ltd.
A person who has spent a lifetime building a collection of anything and is working on an estate plan, often wants that collection to remain in the family. That can be difficult, if your children are not interested in the collection. It is not exactly a secret that children often... Continue reading
Posted Jun 9, 2017 at Bielski Law Office, Ltd.
If you are planning on getting remarried and have children from previous relationships, it is important for you to think about how to preserve an inheritance for your children. Although state laws have some variations, a general rule is that if you pass away without a will, then your closest... Continue reading
Posted Jun 8, 2017 at Bielski Law Office, Ltd.
An estate case in Louisiana has raised ethical concerns for the local executive director of the council on aging. A few months ago, a 95-year-old woman in Louisiana, Helen Plummer, passed away. Her family knew that she had about $300,000 in liquid assets and two homes. What they were not... Continue reading
Posted Jun 7, 2017 at Bielski Law Office, Ltd.
A reality TV personality is suing her stepsons for what she claims is an attempt to steal a home belonging to her late husband that should rightfully belong to her. The Real Housewives reality TV series is well-known for the family drama it produces. Viewers seem to appreciate seeing the... Continue reading
Posted Apr 21, 2017 at Bielski Law Office, Ltd.
Michael Jackson's estate has become notorious for its many ongoing legal battles, including feuds between family members and a long fight with the IRS. The estate was recently victorious in one battle. The estate of Michael Jackson has seen more than its fair share of legal disputes. It is likely... Continue reading
Posted Apr 20, 2017 at Bielski Law Office, Ltd.
It is obvious that elderly people are not children. However, many elderly people with dementia are often treated as if they were young children. That can be harmful to them. Everyone can tell when another adult is talking to a very small child or a baby, even if they do... Continue reading
Posted Apr 19, 2017 at Bielski Law Office, Ltd.
Researchers at Oxford University have discovered what might be somewhat surprising findings about what types of people are the least afraid of passing away. One of the reasons that people put off estate planning is they are afraid to die. Most people do not think that they will hasten their... Continue reading
Posted Apr 18, 2017 at Bielski Law Office, Ltd.
A recent case in Florida illustrates why same-sex couples should not rely solely on marriage rights and the laws on intestate succession for estate planning purposes. The Supreme Court might have legalized same-sex marriage throughout the country. However, advocates and observers know that has not eliminated the need to fight... Continue reading
Posted Apr 14, 2017 at Bielski Law Office, Ltd.
A British lord is connected to a pop star who is notorious for partying uncontrollably. However, it is probably not in the way that you might think. Upon hearing that the Earl of Cardigan, whose ancestor led the famed Charge of the Light Brigade, has a connection to a pop... Continue reading
Posted Apr 14, 2017 at Bielski Law Office, Ltd.
The long and contentious battle between the children of Frank Zappa continues to be strange. Since his death in 1993, Frank Zappa's children have waged a curious fight over the use of their father's name and music. It is a fight that has seen many tabloid headlines written and almost... Continue reading
Posted Apr 13, 2017 at Bielski Law Office, Ltd.
While the details change somewhat from survey to survey, there is something that appears to hold true in almost all studies about inheritances. It is that parents and their children have far different expectations about how much the children will inherit. Most people do not really know how many assets... Continue reading
Posted Apr 12, 2017 at Bielski Law Office, Ltd.
It used to be that once you executed an irrevocable trust, you were more or less stuck with its terms. That is no longer the case. Irrevocable trusts are often far superior to revocable trusts for many reasons, not the least of which is taxes. However, the big drawback to... Continue reading
Posted Apr 11, 2017 at Bielski Law Office, Ltd.
Not all disputes over an estate are worth bringing. A recent case from the U.K. illustrates why. It is not unusual for people to not get along well with their stepparents. It is the source of many family feuds over estates when adult children of the deceased think a stepparent... Continue reading
Posted Apr 10, 2017 at Bielski Law Office, Ltd.
On the whole, Americans are woefully unprepared for retirement. If current trends continue, it will be an even bigger problem than you might imagine. When it comes to Americans and retirement savings, study after study shows the same thing. The average American saved far less than experts think they will... Continue reading
Posted Mar 31, 2017 at Bielski Law Office, Ltd.
A federal law passed late last year, designed to make it easier for families to recover art stolen by the Nazis, is getting its first test in a New York court. While the Nazis were plundering Europe, one of the many things they did was to steal artwork from the... Continue reading
Posted Mar 30, 2017 at Bielski Law Office, Ltd.
Alzheimer's is so expensive to treat, that it presents a very real threat to both Medicaid and Medicare. The mostly costly disease to treat is Alzheimer's. A total of one out of every five dollars is currently spent by Medicaid and Medicare to treat the disease. If the costs are... Continue reading
Posted Mar 29, 2017 at Bielski Law Office, Ltd.
The long family feud that is the Michael Jackson estate battle continues. This time it involves allegations of elder abuse. Were Leo Tolstoy alive today and wanted to write another long novel about family drama, he could use the Michael Jackson estate battle as a template. The estate still has... Continue reading
Posted Mar 28, 2017 at Bielski Law Office, Ltd.
To help offset the costs of the estate tax, many wealthy people purchase survivorship insurance. Now that a repeal of the federal estate tax is possible, some might be considering dropping those insurance policies. However, that might not be a good idea. Paying the federal estate tax has never been... Continue reading
Posted Mar 27, 2017 at Bielski Law Office, Ltd.