Weinstein & Randisi
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May 2016 Archives

If probate litigation looms on your horizon, an attorney can help

Regardless of the reasons, there are times when legal disputes may arise related to a loved one's estate plan. Anytime people have lost a loved one and probate litigation lands on the table, emotions can run extremely high. A great way to get help resolving these issues is seeking representation from a sensitive and professional attorney. If not handled with care, disputes can escalate quickly and before you know it, things have gotten entirely out of hand.

Trust administrator proposes plan to test heirs in Prince estate

Amid continuing rumors that Prince actually left behind a will -- and that the will might be located in another country -- the estate is moving forward with administrative processes. The administrator of the trust currently holding the Prince estate has proposed a process to identify possible heirs to the pop star's fortune.

Your own values and your long-term care plan

Everyone has different values, and experts note that it's incredibly important to take your own personal beliefs and values into account when setting up a medical long-term care plan in New York. This could include your moral and ethical beliefs, your spiritual beliefs, and more.

Be careful with your digital will

More and more, experts are suggesting that people create digital wills for the division of online assets. Much of this has to do with granting access to your accounts and ensuring that people can get into them after you pass away.

Vince McMahon sells World Wrestling stock for estate planning

Ex-pro wrestler and World Wrestling Entertainment CEO and Chairman Vince McMahon will sell 2,191,894 shares of his company's stock valued at nearly $40 million. The shares he plans to sell represent 6 percent of the outstanding WWE stock. WWE announced that the shares were sold for the benefit of McMahon and his family and for estate planning purposes.

Understanding fiduciaries and the important role they fill

Some of the terminology surrounding estate planning can be confusing. However, most of the terms you hear can be explained quite easily. Fiduciary is one such term and it simply means a person who has the responsibility of administering an estate for someone who has died. Depending on specific circumstances, a fiduciary may also be known as an executor or an administrator.

How do you choose an estate executor?

In the past few weeks, we've talked about the importance of a will and how to avoid some common estate-planning mistakes. We've also covered the fiduciary role, so you know it's important to choose the right person when you are picking people to handle your money or will. But how do you choose an executor for your estate or will?

Important long-term care insurance questions

So you're thinking about getting long-term care insurance, trying to protect yourself from high costs as you grow older. This could be a very wise move, but it's important not to act too quickly. Take your time and ask all of the right questions first. These include the following:

The most common estate planning mistakes

The recent death of pop-star Prince revealed that the musician and renowned philanthropist passed away without creating a will. Court papers filed by the musician's sister revealed the absence of a will shortly after his death. It is surprising that such a successful person could have left this world without completing his estate plan, but committing this and three other common estate planning errors happens more frequently than one might think.

Do you pay taxes on foreign inheritances?

It's very important to know how inheritance taxes work, but you should know that these generally just apply to U.S. citizens and others who live in the United States. If the person who is passing on the assets is not a U.S. citizen and is not living in the country, taxes typically do not apply.

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Weinstein & Randisi
290 Linden Oaks, Ste. 200
Rochester, NY 14625

Toll Free: 800-768-1780
Phone: 585-310-1578
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