by Estate Planning Attorney Nydia Menendez You have probably heard some common myths about Trusts: “A Trust is only for wealthy people,” or “I don’t have a great deal of assets, so why do I need a Trust?” Others may think “I already have a Will, isn’t that enough?” or “A Trust is too expensive.” But, if this was a True or False quiz, the response to each of those myths would be a big, fat FALSE! What is a Trust? Here we will be talking about a Revocable Living…
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Points to Consider Regarding a Will
by Estate Planning Attorney Nydia Menendez This may be the most myth-dispelling article you will ever read on the topic of Estate Planning. That’s because Wills are the Estate Planning tool with which most people are familiar. And people also believe Wills are sufficient for their needs. In fact, most clients call our office asking to prepare a Will so that they can leave their affairs in order and their loved ones taken care of. But is a Will the best way to do that? Our goal is to clarify…
Read MoreWhere Would Our Pets Be Without Family Members Who Love Them?
by Estate Planning Attorney Nydia Menendez As an estate planning attorney, I understand the value of protecting our loved ones. And as a passionate pet owner, I believe that protection must also extend to our four-legged family members as well. That’s why, when clients have fur babies in their families, I offer a comprehensive (and complimentary) Pet Trust for that family. For many of us, our pets are part of our family, much like a child. Yet, we see many plans (not prepared by our firm) which fail to address…
Read MorePlanning to Protect Special Needs Beneficiaries
by Estate Planning Attorney Nydia Menendez In matters of Estate Planning, there is never a one-size-fits-all document. Every family is different, and each of its members have specific needs and concerns that must be met using various planning tools. When a person’s Estate Plan includes a beneficiary with special needs, mentally or physically disabled, the planning needs to include the right tools to implement a Special Needs Trust. Otherwise, if the distributions are done outright to the family member with special needs, this could jeopardize their eligibility for government benefits…
Read MoreMichael Jackson … This Estate Plan Is A Thriller
by Estate Planning Attorney Nydia Menendez Michael Jackson was born on August 29, 1958 in Indiana. When he was only eight years old, he joined the family music group composed of Michael and his four brothers Tito, Marlon, Jermaine and Jackie. They were called the Jackson 5. Michael was a musical prodigy and soon became the lead voice of the group. His singing and dancing talents were extremely mature for a kid that age. By the 1970s the Jackson 5 became one of the most accomplished black pop/soul vocal…
Read MoreElvis Presley’s Estate … Not Quite Fit For A King
by Estate Planning Attorney Nydia Menendez Elvis Presley was an American singer, musician and actor, well known as an iconic global symbol, winning the title “King of Rock and Roll,” or simply “The King”. The King sold over one billion records, starred in 33 films, made history with television appearances and specials, and played many record-breaking live concert performances in Las Vegas and throughout the country. Elvis died at his Memphis home on August 16, 1977, at the young age of 42, from heart failure related to drug addiction.…
Read MoreWalt Disney’s Daughter’s Estate Plan Left Much To The Imagination
by Estate Planning Attorney Nydia Menendez Walt Disney passed away in 1966 at the young age of 65. His Estate was valued at 23 million dollars. Walt was a good steward; he had done Estate Planning which left half his wealth to charity – an excellent way to reduce taxes. The other half went to his wife and two daughters, Diane and Sharon, in a Trust. So, why am I talking about this famous Estate? Because even though Walt Disney did good planning, the youngest daughter – Sharon – may…
Read MoreA Fast Look At Paul Walker’s Estate
by Estate Planning Attorney Nydia Menendez In late 2013, while on Thanksgiving break during filming for his upcoming movie, Furious 7, Paul Walker died in a tragic car accident. Ironically, many fans remember him by one of his famous quotes: “If one day the speed kills me, don’t cry. Because I was smiling.” Walker was only 40 years of age and was survived by his parents and his 15-year-old daughter, Meadow. Even though young at the time of his passing, Paul Walker understood the importance of managing his Estate in…
Read MoreLeona Helmsley – Is $12 Million Too Much To Care For A Dog?
by Estate Planning Attorney Nydia Menendez Leona Helmsley was a hotel heiress, which means she was very wealthy! And, although many people referred to Leona as the Queen of Mean, I don’t. Leona had a white Maltese named Trouble, which she adored. So, if she loved a dog, how mean could she be, right? In my book, anyone who cares that much for animals must have a heart. Leona passed away in 2007. Fortunately, she had done Estate Planning. Good for her. In her Estate Plan, Leona left the bulk…
Read MoreJacqueline Kennedy Onassis – A First Lady’s Final Estate
by Estate Planning Attorney Nydia Menendez Jacqueline Bouvier Kennedy Onassis, known more commonly as simply “Jackie”, was the wife of our 35th President, John F. Kennedy, who was assassinated in November 1963. The scene of her at her husband’s side during that tragic event is etched into the minds of millions of people around the world. After President Kennedy’s assassination, Jackie did not pursue public office or any type of celebrity life. She sought to live privately with her kids. Still, there was one paparazzo who mercilessly followed her and…
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