Over two-thirds of U.S. adults have no Last Will and Testament or Estate Plan, according to a recent Caring.com study. Dying without a Will (and without an Estate Plan that uses a Living Trust as a Will substitute to avoid probate) means that your state’s probate court will force the distribution of your assets according […]
Yes, Probate Really Is That Bad!
When Sheila’s mother died with only a Last Will and Testament (Will) in place, she couldn’t fathom that she would still be knee-deep in probate a year later without an end in sight. Sheila often tells her friends and anyone who will listen that if she knew then what she knows now about probate, things […]
My Mom Had a Will, But It Was Useless
Q. I always had a good relationship with my mother. We would have lots of open conversations and talk about almost everything! If she ever got sick or traveled overseas, she would remind me that she had a will, and I of course believed her and I assumed it was enough and that we were […]
Our Top 10 Spookiest Articles of 2022
2022 has been a bit of a frightening year, but not nearly as scary as recent years past! Since Halloween is in less than a week, it’s an ideal time to catch up on some of the scariest elder law, estate planning, and special needs planning articles of the year. From loved ones helping their […]
The Nightmare of Probate: Prince’s Estate Took Six Years to Settle
In 2016, the legendary musician and actor Prince died of a fentanyl overdose. He left behind an incredible legacy, significant assets, many relatives, and, unfortunately, no will and no trust. It took six years and tens of millions of dollars in legal fees, but the heirs and the IRS agreed that his estate was worth […]
How to Avoid Unnecessary Pain and Expense When a Loved One Dies
Q. I recently read in a Virginia publication about a man who was grieving the loss of his mother, who died during the Coronavirus pandemic, while experiencing what he referred to as the “awful business of settling the estate.” He goes on to describe the headaches involved with closing her investment accounts and nightmare of […]
Can You Inherit Debt from your Parents?
Dear Oakley, My mother recently told me that she charges everything and has lots of credit card debt and other debt. I’m an only child and she is widowed. If something happens to her, would I inherit her debt? Also, she lives in a condo that has a pretty steep monthly condo fee. If she […]
Is a Last Will and Testament Enough?
Dear Angel, My sister wants to save money on estate planning. She is considering Do it Yourself (DIY) forms that she saw online, or if she does go to an attorney, she said that a Will should be enough. Is that true? Thanks for your help! Will Snaughtenuff—Dear Will, It is commendable that your sister […]
What Happens if You Die Without a Will in Virginia, Maryland, or Washington, D.C.?
Q. I am retired and recently moved to the DC area to be closer to my daughter, her husband, and my three grandchildren. I have lived a pretty simple life, and don’t have a lot. Although I am now in my early 70’s, I have never done estate planning. After reading your newsletter and perusing […]
Why Are There So Many Problems With Prince’s Will Two Years After his Death?
Dear Magic, I read somewhere that Prince died two years ago, but his heirs have yet to inherit any of his 200 million dollar fortune. How can this be? Noah Money-Forthem —- Dear Noah, It’s true that it’s been two years, and Prince’s family has yet to see their inheritance. The reason is the fact […]
Don’t Attempt this on Your Own
Image from Scientific American Q. My Aunt Linda is very stubborn. She has been divorced twice, has three kids, two step-children, and a grandchild on the way. She did her estate planning documents when she was married to her first husband, and insists on making updates to them with a red pen. I told her that […]
A Year Later: Robin Williams’ Family is Still at Odds
Robin Williams with his son, Zak, and his wife, Susan in 2012. Photo from New York Times Many wealthy people die having done inadequate estate planning, or none at all. This was not the case with late comedian Robin Williams, or so we thought. It seemed that Mr. Williams attempted to spell out his wishes […]
Listen to Evan H. Farr, CELA being interviewed on 1500 AM (Federal News Radio) on Sunday, October 5!
On Sunday, October 5 at 10:30 p.m, I will be the guest on “Of Consuming Interest” hosted by Shirley Rooker, radio host and President of Call For Action, Inc. On her show, Ms. Rooker typically interviews top government officials, CEOs, and experts in their respective fields about topics that are of interest to consumers. […]