Whether you have a will or not, part of your estate plan must deal with digital assets. Traditionally, estate plans did not deal with these assets, since they are a relatively new aspect of estate planning. However, a majority of people have email accounts, and a growing number of people keep digital copies of important documents and pictures.
The legal wrangling between Casey Kasem’s wife and Kasem’s children continues. Last week, a judge ordered an investigation in to Kasem’s whereabouts after his children had complained that he had been removed from the state of California without their knowledge. Kasem, who is best known for his long-running radio show detailing America’s top-40 songs, is 82 years old and suffers from Lewy body dementia, which results in a progressive decline in mental abilities.
Michael Jackson’s estate could be liable for paying more than $500,000 in legal fees if a Los Angeles County Superior Court judge rules in favor of concert promoter AEG. The promoting giant was sued by Jackson’s mother for wrongful death stemming from his demise from a fatal dose of propofol by former cardiologist Conrad Murray in preparation for a stint of concerts in London, dubbed the “This Is It” tour.
In a number of our posts we have noted that estate planning is helpful for people at just about any age. You don’t need to have millions in liquid assets, multiple real estate holdings or tax shelters in order to have a basic estate plan. In fact, just having an idea about how you would want to be treated medically if you are unable to speak, or who you would want to make decisions on your behalf is enough. With this in mind, we offer this post to introduce the basic things you should have in your estate plan.
To those who are retired, have plenty of money and are entering their golden years, the importance of an estate plan may be an afterthought. After all, they probably have managed their money and assets well up to this point, and may feel that creating an estate plan invites morbid thoughts of their own mortality.