Insights Articles

A recent case has made estate planning disputes more visible. The $275 million Jimmy Buffett estate lawsuit is currently at the center of a legal dispute. It involves his widow, Jane Buffett, and co-trustee Richard Mozenter, regarding the management of the estate. This case shows the challenges of managing large estates. It also shows how disputes can arise between co-trustees. Understanding this case can help you plan your estate better, particularly because estate litigation is growing, with trillions of dollars being passed down over the next 20 years.   The Jimmy Buffett Estate Lawsuit Explained: Background & Overview The case highlights trust issues and disagreements between co-trustees. To…

Estate litigation involves legal disputes that arise during the distribution of a deceased person’s assets. These conflicts often involve family members with competing interests, which makes them emotionally charged and legally complex. Understanding the fundamentals of estate litigation can help you navigate these challenging situations and protect your rights when disputes arise over wills, trusts,…

Planning for long-term care is a critical aspect of financial security, especially as healthcare costs continue to rise. Many Americans face the challenge of protecting their hard-earned assets while ensuring they can access necessary care through Medicaid if needed. This guide explores effective ways to protect assets from Medicaid spend-down requirements while remaining compliant with…

What happens to your estate plan if you get a divorce is a critical question during one of life’s most significant transitions, as divorce affects not only your emotional well-being but also your financial and legal arrangements. Among the many considerations during this challenging time, your estate plan requires careful attention. What happens to your…

Putting a house in a trust is a nuanced process that requires careful planning to ensure compliance with state laws and alignment with your estate planning goals. This strategic move can protect your property during your lifetime and create a seamless transition of ownership after your passing. Whether you own a primary residence, vacation home,…

Placing your home in a trust is a common estate planning strategy that helps avoid probate and provides clear instructions for the property after your death. However, when there’s an existing mortgage on a home in a trust, many homeowners wonder who becomes responsible for those payments. Understanding how mortgages work with trusts is essential…

Does a trust avoid probate? And what’s so bad about probate that you have to avoid it? If you’re creating an estate plan for your assets in New York, chances are that your estate planning lawyer is encouraging you to get a trust so you can skip the probate process. What about probate makes it…

A financial durable power of attorney is essential to protect your assets once you are no longer capable of doing so yourself. If you are based in New Jersey and have assets you want to protect your finances to ensure your family’s future, this document is an essential part of your estate plan. We recommend…

The New York estate tax can cause confusion and even legal issues, especially for people unfamiliar with its specifics. If you or a loved one owns an asset in New York, it’s critical that you understand the basics of this tax rule. Hiring an estate planning attorney to handle your estate tax is essential, but…

In a recent significant legal decision, a Nevada probate commissioner denied Rupert Murdoch’s attempt to amend his family’s irrevocable trust. This case has drawn widespread attention from estate planning lawyers — and not just because of its high-profile figures.  If you’re currently navigating the complexities of estate planning in New York, and any other state,…