A 2018 survey conducted by Edward Jones revealed that only 29 percent of Americans know 529 plan accounts are an education savings tool. So, while the sticker price for a college education continues to rise, it appears many Americans are unaware of the powerful tool available to them and their families to save to pay for this all-important expense.

Suicide is a disturbing topic, New York attorney Mark Michael Campanella admits, yet suicide is a reality that many families unfortunately face. While there’s no question suicide can devastate a family, Campanella assures clients and their heirs that if a person’s wishes have been outlined in a properly executed and valid estate plan, those wishes will still be followed regardless of the manner of death.

As Sir Winston Churchill observed, after every period of delay and procrastination comes a period of consequences. While we are in this era of historically low interest rates, it is wise to consider the potential cost of delaying certain estate planning strategies.

One high-risk factor for probate litigation is the so-called “second marriage” situation, Karen Gertsner writes in the American Bar Association’s Law Trends and News. Many people, including the media, the author points out, mistakenly believe that the sole purpose of a pre-nuptial agreement is to specify how assets will be divided if the couple divorces.

Your Probate Court Judicial Officers and staff members are continually reviewing the court's practices and procedures to determine ways to improve the provision of services and to ensure compliance with applicable law. We have been reviewing two areas of current practice. Many parties file motions requesting a waiver of the "home study." We have also observed numerous submissions of non-compliant criminal background checks. 

Donor-advised funds can be useful for any number of reasons. According to a 2017 report by the National Philanthropic Trust, there were over $85 billion assets in all donor advised funds. Donor-advised funds now outnumber traditional private foundations by more than three to one. 

The type of writing necessary to create a valid will is evolving, and courts are moving away from adherence to strict compliance. In recent years, the definition of the term “will” has changed dramatically. What is a will, but the sum of its formalities?

Real estate is often the largest asset in an individual’s estate. Many plan to sell and downsize but for those who plan to “age in place” they should consider what will happen to this asset once they are gone. Leaving your home to an heir in your will can often come with additional costs to your estate.

Low income individuals are more likely to die younger and without wills or advance directives in place—but you can help!

Eleven years after the death of James Brown, the Godfather of Soul, not a penny has gone to any of the beneficiaries of his will. More than a dozen lawsuits related to the estate have been filed since Mr. Brown died on Christmas Day in 2006.