Are you a cat person or a dog person? The truth is many of us love animals. In fact, approximately 68 percent of American households own at least one pet. In some of those households, care for a pet is part of the estate plan. Consider, for example, millionaire head of Chanel, Karl Lagerfeld, who is believed to have left a significant portion of his $195 million fortune to his cat, Choupette. Talk about the cat’s meow! Trust for the Care of an Animal North Carolina recognizes trusts created to care for an animal. Conversely, because North Carolina considers pets property, a pet cannot directly inherit money left to it…
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Elder Abuse: When Aging Relatives May Need Their Own Superhero
Elder abuse refers to intentional or neglectful acts by a caregiver or associate of an elderly individual, which causes harm.[1] Financial elder abuse occurs when a trusted friend or family member obtains access to a senior’s financial accounts and uses the assets therein for personal gain. Unfortunately, this abuse is widespread in the United States and can happen to anyone, even the legendary creator of Marvel Comics, Stan Lee. In December Stan Lee turned 95 years old. Although he remains in good physical health, Stan Lee, and his reported $50 million estate, became a prime target for elder abuse following the death of his wife, Joan Lee, last year.…
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Harper Lee’s Estate Sues Aaron Sorkin’s Production of “To Kill a Mockingbird”: When Can Estates Sue and Be Sued?
Famed Hollywood writer, director, and producer Aaron Sorkin is on the defending end of a lawsuit brought by Harper Lee’s estate. The estate alleges that his adaptation of the Pulitzer prize-winning “To Kill a Mockingbird” strays too far in the story and the development of some key characters from the original 1960 best selling book. In case you haven’t read it (spoiler alert), “To Kill a Mockingbird” is a favorite among attorneys and the general public alike. At its heart, it is the story of a wrongfully accused African-American man in 1930s Alabama. With prominent local attorney Atticus Finch as his defense counsel, both men struggle with the prejudice and…
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Six Basic Questions and Answers about Executors
If you have a will or have ever dealt with estate administration, you are probably familiar with the term “executor.” However, most people don’t know what an executor is or what the executor’s role is. Additionally, what do you do if you suspect an executor is behaving fraudulently or contrary to the deceased person’s wishes? What is an executor? An executor is a person or institution appointed to carry out the terms of a person’s will. They are appointed by the person who wrote the will, the testator, to conclude the business and financial arrangements the testator had…
