last will and testament Tag

Having That Awkward Conversation – Family Inheritance

UBS Wealth Management published a report revealing how badly families are talking about inheritance. The report indicates that it’s easier to have a will (83 percent of respondents had one) than discuss the will with children (about half have had a conversation about the will), and it’s even harder to tell children what the assets are in the will (only 34 percent of respondents discussed the will in detail). The issue of not discussing family inheritance spans the economic spectrum including both wealthy and not-so-wealthy people, according to the New York Times. The UBS report showed that only 55 percent...

Continue reading

LegalDoom: Cookie Cutter Estate Planning Site LegalZoom Being Sued For Flawed Documents

In 2007, Anthony J. Ferrantino was suffering from a terminal illness, so he sought the assistance of his niece to help him write a Last Will and Testament and Revocable Living Trust. They decided to use a popular web site, LegalZoom. Unfortunately, once the LegalZoom documents were created and signed, Mr. Ferrantino's assets could not be funded into the Revocable Living Trust because the financial institutions that held Mr. Ferrantino’s money would not accept the LegalZoom documents as being valid. LegalZoom provided no assistance to Mr. Ferrantino’s family when they had questions and needed help in getting the trust funded....

Continue reading