Robbie Sue Chasen (1946-2010) - Publicist Robbie Sue Chasen, born Veronica Cohen, in Kingston, New York, was raised in both the Riverdale neighborhood of the Bronx and the Washington Heights section of Manhattan. Chasen began her career as a publicist for her brother, film director Larry Cohen, who hired her as a publicist for his 1973 film, Hell Up in Harlem. Chasen represented Michael Douglas, Hans Zimmer, and Mark Isham, among others. Chasen directed the Academy Award campaigns for more … [Read more...] about Famous Estates – Legacy Champ or Chump?
Can I Take Back Assets in a Medicaid Trust?
The Medicaid program is something that may be off your radar if you have been planning ahead for retirement effectively. After all, Medicaid is a program that is only useful for people with virtually no financial resources, right? It is true that Medicaid is a health care insurance safety net for people who have very limited financial capabilities. However, Medicaid becomes quite relevant to a significant percentage of senior citizens. Here's why. Long-Term Care The United States … [Read more...] about Can I Take Back Assets in a Medicaid Trust?
What Is a Charitable Remainder Trust?
Once upon a time, trusts were used almost exclusively by wealthy families as a way to control the family fortune as it made its way through successive generations. Not so today. Today, even the average estate plan typically includes at least one trust agreement. One common type of trust agreement in use today is a charitable remainder trust. Understanding the basics of this type of trust should help you decide if a charitable remainder trust might fit into your comprehensive estate plan. I you … [Read more...] about What Is a Charitable Remainder Trust?
What Is a Grantor Retained Annuity Trust?
If you are exposed to the federal estate tax, tax efficiency is going to be very important to you. The wealth that you have been able to accumulate throughout your life can be eroded significantly by this tax, because it carries a 40 percent maximum rate. The federal estate tax credit or exclusion is $5.34 million in 2014, and it will be $5.43 million in 2015. This is the amount that you can transfer to people other than your spouse tax-free. If you are transferring more than this, the estate … [Read more...] about What Is a Grantor Retained Annuity Trust?
How Long Does It Take to Set Up A Trust?
You may have heard friends or family discussing the use of a trust in their estate plan and wondered if you should consider creating a trust as well. Trusts have become an increasingly popular estate planning component due in large part to the flexibility trusts offer and the multitude of goals and objectives that can be accomplished with a trust agreement. If you have never created a trust before, however, you may wonder “How long does it take to set up a trust?” There is no simple “one size … [Read more...] about How Long Does It Take to Set Up A Trust?
How Does an Agent Use a Power of Attorney?
The odds are favorable that you will be either the Principal or the Agent in a power of attorney, or POA, at some point in your life. A POA can be an extremely useful legal tool when drafted and used properly. Unfortunately, people frequently execute a POA without really understanding the power and authority they are bestowing on the Agent. For example, exactly how does an agent use a power of attorney? Furthermore, are there limits to the authority granted to an Agent under a POA? A power of … [Read more...] about How Does an Agent Use a Power of Attorney?
Famous Estates – Legacy Champ or Chump?
Katharine Hepburn (1907-2003) - Actress Katharine Hepburn was an American actress known for her fierce independence and spirited personality. As a leading lady in Hollywood for more than 60 years she appeared in a range of genres, from screwball comedy to literary drama. Hepburn received four Academy Awards for Best Actress and in 1999 she was named by the American Film Institute as the greatest female star in Hollywood history. Upon her death President George W. Bush said Hepburn “will be … [Read more...] about Famous Estates – Legacy Champ or Chump?
Can You Be the Trustee of My Living Trust?
Trusts have become an increasing popular addition to any estate plan. The reasons for this are varied and numerous. Trusts allow for flexibility when creating an estate plan as well as help your estate avoid probate. In addition, trusts may help decrease your gift and estate tax exposure. When you create a trust you must appoint a trustee. One question we often get asked is “Can you be the trustee of my living trust?” The short answer to that question is “yes”; however, it helped to better … [Read more...] about Can You Be the Trustee of My Living Trust?
What Is a Pour Over Will and Do I Need One?
When discussing estate planning you may have heard the term “pour over Will” used at some point and wondered “What is a pour over Will and do I need one?” The simple answer to that is that if you are relying on a revocable living trust to handle the fate of your estate assets after your death you should also create a pour over Will as well. A Last Will and Testament typically serves as the foundation of an estate plan; however, you may choose to rely on a revocable living trust to handle your … [Read more...] about What Is a Pour Over Will and Do I Need One?
Famous Estates – Legacy Champ or Chump?
Mary Pickford (1892-1979) - Actress, Producer & Screenwriter Mary Pickford was a Canadian-American motion picture actress, cofounder of the film studio United Artists and one of the original 36 founders of the Academy of Motion Picture Arts and Sciences. Known to many in the U.S. as “America’s Sweetheart” and “Little Mary,” she was one of the Canadian pioneers in early Holly wood and a significant figure in the development of film acting. In consideration of her contributions to American … [Read more...] about Famous Estates – Legacy Champ or Chump?
