You don't have to be a television, movie or music legend in Los Angeles to want control over inheritances you leave for heirs. If you think your estate plan is fine without a trust, you might be right. Then again, you might be missing something.
The California estate of Hugette Clark remains unresolved two years after the 104-year-old woman's death. Multiple parties, including relatives of the last descendent of a $300 million copper mining fortune never knew, are disputing two wills Clark left behind.
Family power struggles at the time of a loved one's death are not so common that they disrupt the settlement of every estate, but conflicts happen. Legal issues among Los Angeles heirs and beneficiaries often occur when no estate plan exists or a critical legal document is indistinct.
The subject of gay marriage drew a negative reaction from most U.S. residents in polls taken a decade ago. At the time, Pew Research Center reported a 58 percent opposition to same-sex marriage. A new survey shows a remarkable change in society. The gay marriage approval rate shot up to 49 percent.
Tara Tyson Kulukundis was never well-known for her acting talents in New York or Los Angeles. The off-broadway and bit-part television actress did enjoy some notoriety decades ago and lived a comfortable lifestyle, at least until the death of her husband Manuel Michael Kulukundis.
The advice of a friend or family member can be valuable, but there are times when what's right for someone else doesn't work for you. It's common practice in southern California to ask someone you trust for advice or a referral.
A surprising number of people in California and throughout the country give little thought to long-term financial planning. Young adults may be more concerned with wealth building than wills, trusts and estate administration.
Life improvements are almost always the subject of New Year's resolutions. The declarations to get fit, change relationships and improve career or financial prospects that are sincere on Dec. 31 often become diluted or forgotten by spring.
Everyday people are not the only ones who fail to plan future strategies for their assets. Famous people with great wealth including musicians and reclusive billionaires have been guilty of inadequate estate planning.
An article published in a California newspaper last summer led to a task force and a proposal that could change fees paid to conservators of the estates of dependent adults. Court officials in Santa Clara County are considering rules that would limit what court-appointed estate administration officials charge for services.