Estate planning

Every new year, many financial planners prompt clients to revisit and update their estate plans and wills. In so doing, they should begin teaching clients about a new – but critical – area of estate planning: attending to their digital legacies.

Legacy expert attorneys Andy and Danielle Mayoras say there’s no doubting the greatness of Martin Luther King Jr. However, he made a mistake common among millions of Americans: He didn't have a will.

Legacy expert attorneys Andy and Danielle Mayoras say events surrounding his estate have been anything but consistent with his musical legacy. In the 30 years since his death, his estate has seen far too many court fights, lawsuits and money-grabs to count. And that legacy of fighting over money doesn’t seem likely to end any time soon.

Intra-family loans are gaining traction to finance start-ups and help out in many other ways.

Legacy expert attorneys Andy and Danielle Mayoras say the intrigue and legal wrangling surrounding the copper heiress’s $400 million estate serve as a stark reminder that everyone -- wealthy or not -- needs to get proper estate planning advice from their financial advisor before it’s too late.

In this low interest rate environment, some financial planners are advising their clients to cut the middleman out entirely with intra-family loans.

Problems arise when a parent adds a child's name to an asset or aids elderly loved one who needs assistance.

Al Davis, the long-time principal owner and general manager of the Oakland Raiders, died last week at age 82. As legacy expert attorneys Andy and Danielle Mayoras point out, estate taxes are huge concern for NFL owners and it appears that Davis, unlike other professional sports owners, made the necessary arrangements to keep the franchise under his heirs’ control.

Soon after the tragic news of Steve Jobs' death broke, people began wondering what would become of the Apple co-founder and innovator extraordinaire's fortune. Forbes recently estimated Jobs’ wealth at $7 billion. According to legacy expert attorneys Andy and Danielle Mayoras, it appears Jobs had his estate planning act together.

The director of the MetLife Mature Market Institute discusses how financial advisors can best serve baby boomers.

Whether it's simple or not, retirement plans are suddenly important to small business owners.

Taxpayers Beware: Gifts to charities have come under IRS scrutiny.

An auction of the deceased actor’s memorabilia, clothes and other property recently garnered more than $1 million but none of his five children, including actress Jamie Lee Curtis, have yet to receive a dime. And, from most indications, that’s exactly the way the “Some Like It Hot” star wanted it.

Celebrities are not the only ones to make mistakes with their estate planning. It happens to people all across the country on a regular basis. According to legacy expert attorneys Andy and Danielle Mayoras, one of the most common estate planning mistakes that people make is joint ownership.

Now almost 30 years old and seemingly back at the top of her game, why would the pop superstar still need her father to serve as her conservator? One company claims it’s simply a ploy to duck a deposition in a multimillion-dollar lawsuit.

Clients should update their wills after births, deaths, marriages and — especially — divorces.

The so-called “Godfather of Soul” passed away on Christmas Day 2006, and generously left his $100 million fortune to a special trust set up to help poor and needy children. Yet, four-and-a-half years later, not one child has seen a cent. Why?

Russell Armstrong was the 47-year old husband of "Real Housewives of Beverly Hills" cast member Taylor Armstrong. Tragically, Russell committed suicide on Aug. 15, about one month after Taylor had filed for divorce. His untimely death and the subsequent squabbling by surviving relatives highlight the importance of estate planning whether you're famous or not.

Zsa Zsa Gabor has never been one to shy away from the limelight. But when does pursuing fame cross the line for a 94-year-old? That point may have come this week, when her husband of 25 years told CNN that he had started the process of donor matching and blood work so he could turn Zsa Zsa into Ma Ma.

One of the challenges that we have as professionals is motivating our clients to do their estate planning. Our new television special titled "Trial & Heirs: Protect Your Family Fortune!" debuts tonight and we think it will help motivate your clients to take the necessary estate planning steps that many have put off for far too long.