How the world’s richest pets spend their inheritance As monetary settlements called “pet trusts” grow in popularity, animal companions of the wealthy can continue living large even after their owners are long gone. “People develop a really strong bond with the animals they share their …
Celebrity Estate Planning: Misfires of the Rich and Famous
Celebrity Estate Planning: Misfires of the Rich and Famous - Like many ordinary individuals, celebrities often have outdated or nonexistent estate plans. Even when a celebrity has done careful estate planning and has well-drafted documents, changes in family circumstances or in the tax laws can …
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What Is the Difference Between Estate and Trust?
Trusts and estates are two of the primary legal structures used to transfer assets over to heirs and beneficiaries after someone dies. Estates and trusts work in distinctively different ways and serve different functions. Estates function as a one-time transfer of assets that are distributed after …
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How the cats of Dixfield, Maine came into a fortune — and almost lost it
More than 20 years ago, something unusual happened in the small town of Dixfield, Maine. A lady named Barbara Thorpe had left almost all of her money—$200,000—to benefit the cats of her hometown. When Barbara died in 2002, those cats suddenly got very, very rich. And that is when all the trouble …
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Lisa Marie Presley’s Death Highlights Estate Challenges of Multigenerational Fame
Lisa Marie Presley’s Death Highlights Estate Challenges of Multigenerational Fame - A process that is meant to be simple and streamlined can, in reality, take years to answer the question: what will the star's heirs inherit? Nothing educates the public about estate law (and, sometimes, probate …
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