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Estate Planner - September October 2016

in Estate, Trust & Probate, News

Here’s a brief glance at what you’ll find in the 2016 – Estate Planner – September October issue…

Carlin Comments – Another Disappointed Illegitimate Heir (Part 1)

In In re Estate of Burdette, the appellate court in September 2016, upheld the probate court overruling a purported daughter’s efforts to inherit from her father’s estate. Appellant Jackie Marie Burdette Wright contended that the probate court erred in ruling that she could not inherit from her father’s estate by failing to accept her birth certificate listing her father as prima facia evidence of the parent-child relationship, and violating her constitutional rights in failing to treat her with equal standing to decedent’s two natural children. Her father’s estate, as Appellee, responded that Wright did not prove a legally established parent-child relationship through: 1) a paternity action, or 2) any other statutory relationship. Read more —  2016 – Estate Planner – Carlin Comments – Another Disappointed Illegitimate Heir (Part 1)

Asset protection

Preserving wealth for yourself and your heirs

There are many techniques available to protect one’s assets, from giving them to loved ones to placing them in offshore trusts. Regardless of what strategy is used, the key is to start planning now. The earlier one implements asset protection, the more effective it will be. This article discusses risk assessment and reviews both basic and sophisticated asset protection strategies, while a sidebar cautions against violating fraudulent transfer laws.

Do you need to file a gift or estate tax return?

If one has made substantial gifts to loved ones, or is the executor of someone’s estate, it’s important to understand the rules surrounding gift and estate tax returns. Determining whether one needs to file a return can be confusing, and in some cases it’s advisable to file a return even if it’s not required. This article explains the rules of filing a gift or estate tax return.

Of sound mind

Take steps now to minimize the chance of a contested will after death

Regardless of how harmonious a family may be during one’s life, there’s always a chance that a disgruntled family member may challenge an estate plan after the estate owner’s death. This article defines “undue influence” and details steps to take to avoid undue influence claims.

Estate Planning Red Flag

You haven’t substantiated your charitable gifts

If an estate plan includes a revocable trust — also known as a “living” trust — it’s critical to ensure that the trust is properly funded. Revocable trusts offer significant benefits, including asset management and probate avoidance. But these benefits aren’t available if the trust isn’t funded. This brief article explains how to fund a revocable trust.