An Indian court has finally ruled on a decades-old royal dispute involving the estate of Harinder Singh Brar, the last maharajah of Faridkot, which was a tiny kingdom in Punjab before it was absorbed into India in 1947. The dispute pitted the palace officials against the surviving princesses. Brar died in 1989, leaving a wife, [...]
Hurricane Sandy may have caused more damage on Staten Island than in any of the five boroughs of New York City. Houses were destroyed and at least 23 people were killed as the storm tore through the coast. As the cleanup and rebuilding continues, residents should start dealing with replacing important documents and records that [...]
Individuals and couples with very large estates face a number of complications during the probate process. Common issues that arise include: Gathering assets. The executor of a person’s will is responsible for gathering assets for probate. This process is more complicated when there are many types of assets titled in different ways such as property [...]
When a loved one passes away, the emotional rollercoaster you experience is compounded by the paperwork and legal formalities that need to be finalized. Transferring property that once belonged to your parent into your name is a common challenge that arises at this time. The way you transfer property after the death of a loved [...]
Actor Cory Monteith, well-known for playing heartthrob Finn Hudson in the popular TV series Glee, died unexpectedly in June of this year at only age 31. Little has been reported about the future of Mr. Monteith’s estate, estimated as being worth some $2 million. This tragedy underlines the importance of having a will in place. [...]
Each year, the anniversary of the 9/11 tragedy reminds us how fragile life is and how quickly tragedy can strike. The unexpected death of a loved one is a personal tragedy that affects people deeply and permanently. Learning of a loved one’s untimely passing can make people feel lost and overwhelmed. Stages Of Grief In [...]
The American Tax Relief Act of 2012 (ATRA), which took effect earlier this year, contains a number of provisions that may affect your estate plan. Following are highlights of five of the ATRA's most significant changes: The tax rate. The federal estate and gift tax rate is now capped at 40 percent. The exemption. Years [...]
A hospital bed is a parked taxi with the meter running. - Groucho Marx Alexis Rodriguez, an unemployed doorman, expected he would get a hospital bill after his three-week hospitalization for pneumonia at New York’s Bronx-Lebanon hospital. He almost had an asthma attack when the bill that arrived was for more than $44 million. In [...]
The New York Times reports that as the great anti-apartheid leader Nelson Mandela remains in critical condition, his family is facing some very difficult decisions regarding his end-of-life care, particularly whether or not to continue life support. You can make it easier on your family by establishing some guidelines for them to follow by preparation [...]
The Patient Protection and Affordable Care Act (“Obamacare”) is one of the most significant and controversial pieces of legislation to have been passed for many years. Despite numerous legal challenges, the U.S. Supreme Court has generally ruled that the legislation is constitutional. However, in a recent case, the Court held that states may opt out [...]