San Antonio, TX Estate Planning

What Can We Learn from Robin Williams’ Estate Planning Missteps?

As I have previously discussed, in spite of thorough planning, the estate of Robin Williams faces additional legal action from Susan Williams, the spouse of the late actor. However, these problems may be avoided by remembering the following tips.

Before taking his own life, Robin Williams had an estate plan in place that appeared to take care of his children and distribute his property. However, now his widow and his children are fighting in court over portions of the estate as it seems they disagree about the meaning of certain provisions in Williams' estate plan. If an estate plan is not crystal clear on certain intentions, a mess can ensue. 

What can we learn from this?

Recently, the Wills, Trusts & Estates Prof Blog published a list of lessons in an article titled "Learning From the Estate Problems of Robin Williams." 

The list includes:

• Specify who gets each particular item, especially if the items are valuable. Williams grouped many of his valuable possessions together in his estate plan. Which specific items belong to which group is a point of contention.
• Hold a meeting of all heirs so that everyone knows who gets what beforehand.
• Have professional witnesses oversee the process so that they can raise appropriate questions about any ambiguities.
• Include provisions in a will that make it difficult to challenge.

Now, would be a good time to review your estate plan with an experienced estate planning attorney to make sure that you have not made any of the same mistakes.

To be sure your estate planning goals are met, contact us today to set up an appointment.

Reference: Wills, Trusts & Estates Prof Blog (March 3, 2015) "Learning From the Estate Problems of Robin Williams."

How to Pay Estate Creditors

In deciding how best to approach an estate matter, it is important to be aware of how the estate creditors are to be paid.

What happens to your debt when you pass away?

Most Americans have debts of some kind and most debts do not disappear when the debtor passes away. Instead, the debts are paid out of the assets of the estate before the assets are distributed to the heirs. 

NJ.com recently published a helpful article about this subject titled "What you need to know about estate creditors." 

While the article is written specifically about New Jersey law, there are some generally applicable notables that are helpful reminders for all estate administrators.

The first thing to understand is that not all debts presented to the estate need to be paid. Only valid debts should be paid. 

Debts can be invalid for a variety of reasons, such as the creditor cannot prove that the debt is owed or perhaps the statute of limitations has run on the claim. Another important thing to understand is that creditors should be paid in a specific order depending upon the type of debt. 

While the specific order might change from state to state, it is important to note the debts to the government for taxes should always be paid before private debts! Finally, if there is not enough money in the estate to pay all of the debt, administrators need to be very careful and properly pay each creditor the appropriate amount from what is available.

Of course, the best thing for estate administrators to do when it comes to creditors, let alone estate administration, is to hire an experienced estate planning attorney to assist.

If you’re the responsible estate administrator, we can help you take care of matters appropriately. Click here to read about our probate services.

Reference: NJ.com (March 1, 2015) "What you need to know about estate creditors."

Another Celebrity OOPS – No Will for Greg Plitt

Bravo's fitness star Greg Plitt -- who was hit and killed by a commuter train -- did not have a will, and now his family is trying to ensure his $800,000 estate ends up in the right hands.

In January, Bravo TV star Greg Plitt died while shooting a commercial for an energy drink. The premise of the commercial was that the drink gave Plitt the energy to outrun a speeding train like Superman. 

Unfortunately, while attempting to perform this stunt, the train hit Plitt and killed him. 

Now, TMZ reports that Plitt passed away without an estate plan in an article titled "Bravo's Greg Plitt Had $800K in the bank...BUT NO WILL."

As Plitt had no spouse or children at the time of his death, by law his estate will go to his parents after any creditors are paid. Perhaps this is what Plitt would have wanted done with his estate, but we will never know. 

By not having an estate plan, Plitt forfeited the ability to have a say in who gets his assets. 

Do not make the same mistake. Contact an experienced estate planning attorney and take care of business because one never knows.

It's never too early to protect you and your heirs. Click here to read more about what is involved with setting up your estate plan.

Reference: TMZ (February 24, 2015) "Bravo's Greg Plitt Had $800K in the bank...BUT NO WILL."

Blended Families Require Proper Planning

Second marriages bring additional estate planning considerations, especially when children from past relationships are involved. Here are some tips for addressing a blended family in estate planning.

Do you have a blended family? Have you made proper plans to ensure all of your family members are taken care of when you are no longer here?

One of the more persistent stereotypes concerning family relationships is that of the children from a first marriage not getting along with a stepmother or stepfather. The most famous example is probably the wicked stepmother from Cinderella. Nevertheless, thousands upon thousands of other examples both real life and fictional exist. 

While it is not always true, it is common enough that people with children from a spouse other than their current spouse need to take special care with their estate plans to lessen the likelihood that the current spouse and children will fight over the estate. 

The Wills, Trusts & Estates Prof Blog recently published an article on this issue appropriately titled "Considerations for Blended Families." 

Here are a few of those “considerations”:

• Make sure that your spouse and your adult children know how you want your assets distributed.
• Use a trust to provide for both your spouse and your children from a previous marriage.
• Update any powers of attorney and beneficiary designations to include your new spouse, if necessary.
• Share a list of contacts with your spouse.

Estate planning for blended families is more challenging, but with the help of an experienced estate planning attorney you can do it in a way that minimizes the likelihood for any problems with the estate.

Contact us for expert advice and legal counsel in order to facilitate communication and have your concerns addressed.

Reference: Wills, Trusts & Estates Prof Blog (March 2, 2015) "Considerations for Blended Families,"

Don’t Forget to Sign Those Documents!

A missing signature is at the heart of a legal battle in Australia. A man's estranged wife, who wanted to remarry, had served signed divorce papers on him months before his death but he had not signed them. And without a will, his estate goes to her …

Signing on the dotted line makes all the difference – especially when it comes to divorce and estate planning.

In Australia a young man and his estranged wife had both moved on. He was living with another woman and she wanted to get married to another person. 

The wife signed divorce papers and gave them to the young man. The two divided their marital property and went on with their lives. Several months later the man passed away. 

However, he had never signed the divorce papers he was given. 

This meant that under Australian law the two were still married. As the man did not have a will or other estate plan, by law his estate goes to his estranged wife. 

The Sydney Morning Herald has more on this story in an article titled "Family battle of wills over missing signature exposes the limitations of estate law."

Two lessons can be learned from this case. The first is that you have to sign legal papers for them to be official. If you are not sure what legal documents mean or whether it is in your best interest to sign them, then consult with an attorney. The second lesson is that you need an estate plan. 

If the man in this case had a will or other estate plan, his estate would not have gone to his estranged wife.

Because of these mistakes, a fight over the man's estate ensues in court. So far, every court to review has said that the estranged wife gets the estate because the couple was not legally divorced.

It’s important to have your estate documents reviewed by a professional with your best interest in mind. Contact us today to set up an appointment to review your current plan.

Reference: The Sydney Morning Herald (February 28, 2015) "Family battle of wills over missing signature exposes the limitations of estate law."