Here are some other well-known celebrities who have made some very unfortunate estate planning mistakes. “The Artist Formerly Known As Prince” Died Without a Will. Prince had no estate plan of any kind, leaving his estimated $300 million estate to a Minnesota court to decide how it would be...
In August, actress Anne Heche passed away suddenly at the age of 53 after succumbing to injuries she sustained following a horrific car crash in the Mar Vista neighborhood of Los Angeles. Anne Heche was best known for her roles in a variety of movies and television shows, including Donnie Brasco (alongside Johnny Depp), Six Days Seven Nights (alongside Harrison Ford), and Men in Trees. Now, following Heche’s tragic death, we have learned that the she died without an estate plan (in other words, she died “intestate”).
As shared in prior newsletters, it meant a lot to my father to push the idea of furthering my own education. He had really wanted to see me not have to go through as much struggle as he did and, for that, I am forever grateful. I have tried to do the same with my own children, recognizing that ...
By Sheri DeSantis, Senior Trust Administration Paralegal "If you do what you love, you'll never work a day in your life." – Marc Anthony These words ring so true as I reflect on almost 21 years working at Thompson | Von Tungeln. I can remember interviewing with both Mark and Kevin back in 2001...
A common question for many people is what happens to your Living Trust (and your assets) if something were to happen to you and you were to become disabled or ill to manage your own affairs. Who takes over then? Answer: Your Successor Trustee When you set up your Living Trust, you will be ask...
By Partner, Sonia Chan Lee, Esq. I can still remember Kevin starting a seminar saying “if you don't have an estate plan or living trust in place, that's ok. California has one for you.” While I don't know if I would trust California to handle my family's estate, I am confident that after 25 ye...
Don't Fall Victim to the Living Trust Mills When thinking about getting an estate plan, it can be challenging to know and understand what is needed and how much it's going to cost. For most (not all) people, a Living Trust is the best estate planning option because it is the only one that add...
June is National Elder Abuse Month and, more specifically, June 15th, is National Elder Abuse Day. According to the National Council on Aging (NCOA), elder abuse impacts over 5 million Americans every year with an estimated one out of ten Americans aged 60 and up falling victims of some type o...
You are probably thinking to yourself “Why in the world would my 18-year-old need an estate plan?” Many people assume that an estate plan is only a will or a trust. However, in the state of California, that couldn't be further from the truth. Let's paint the picture: Tears are falling down your...
It's true what they say: you can't take it with you. So, what happens to all of your personal possessions and properties when you pass? It's important to take time while you are still alive to start estate planning. What Is An Estate? An estate is the culmination of all possessions owned by someo...
We want to know we did everything to help take care of our loved ones when we pass. Taking the time to build a thorough and thoughtful trust can help secure your legacy and provide for your family after you are gone. This blog will break down the five most popular kinds of trusts. Revocable Livi...
There are several benefits to planning your estate early on and knowing the financial future of both yourself and your loved ones is secured. The only possible issue in doing so is the risk of having an outdated estate plan should the unexpected occur. Below you will find a guide to help determin...
While a will is a very popular method of passing an estate to one's beneficiaries, a revocable living trust is arguably a better option. Our California estate planning team tells you everything you need to know about this useful tool below. What is a Revocable Living Trust? A revocable trust is e...
Trusts and wills are both estate planning tools that essentially allow someone to designate what happens to their property when they pass away. While they might seem similar at first glance, they are implemented quite differently. Our Lancaster estate planning team tells you everything you need t...
At Thompson Von Tungeln, we'd like to congratulate our founding partner, Mark E. Thompson on his retirement. For more than 40 years, Mr. Thompson faithfully served his clients, and our team is proud to continue helping residents of the Antelope Valley at the firm he founded. Any of Mr. T...
At Thompson Von Tungeln, we'd like to congratulate our founding partner, Mark E. Thompson on his retirement. For more than 40 years, Mr. Thompson faithfully served his clients, and our team is proud to continue helping residents of the Antelope Valley at the firm he founded. Any of Mr. T...
A power of attorney is a legal document that allows you to appoint a person or organization to manage your property, financial, or medical affairs if you become unable to make decisions for yourself. However, there are several types of power of attorney that work to achieve separate goals. Below,...
Unfortunately, when people think about estate planning, they often think first or only of a Will. Even in mainstream media, they most often talk about a Will, that so and so is being “cut out of the Will”, or some well-known celebrity's Will is being contested or fought over by a spouse or distan...
Being designated to manage or administer the assets of a trust or succeeding a trust can be a heavy burden to bear. Below, we offer guidance as to what responsibilities a trust administrator holds, as well as ways to better perform these duties. What is Trust Administration? Trust administration ...
Planning your estate is one of the biggest steps you can take to safeguard the future of your loved ones. Even though a last will and testament can succeed in transferring assets to heirs and beneficiaries, they are not able to avoid issues found in probate, estate taxes, or protect your interest...
The Trustee acts as the legal owner of trust assets, and is responsible for handling any of the assets held in trust, tax filings for the trust, and distributing the assets according to the terms of the trust. For our clients who have set up a Living Trust, you are the Trustee of your own Living ...
With the coming of the Fall season, we are also about to head into a time of year filled with a number of holidays where we might be around and with family. This is always time of year that I advise my clients to consider having some often difficult, but necessary, conversations with their loved ...
The government may be trying to get their hands into your and your loved ones' pockets again – – and in a VERY BIG way! I am not going to predict which political party will win the November election and control the Presidency, Senate, and House. But I do need to let you know what may happen ...
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