Category Archives: Wills

Helping Children Tomorrow

Parents and children often have a different perspective on saving and spending. Parents of retirement age today were born during the Great Depression or during the 1940s and have a strong desire to save and invest in order to increase economic security.

Some of their children may have a different perspective. Because their children did not grow up during adverse economic times, they tend to consume more and save less. Understandably, many of these parents hope that their children could have greater economic security during retirement. Continue reading

Financial Planning

Atlanta CPA, E. Dennis Bridges, Answers Today’s Question about Family Finances

Question:  Help – we need to get on the right financial path before it is too late! My husband and I are in our early 60s and find ourselves wrestling with a host of financial issues, including elder care and estate planning as well as retirement planning. Can you provide us with some financial tips? Continue reading

Living Trust Choices

Published December 6, 2013 by The Foundation of the Tennessee and Memphis Conferences of the United Methodist Church

The living trust is becoming quite a popular estate planning strategy. It costs more than a will, but includes many features that are helpful during life and in your estate. Let’s review some of the basic principles of the living trust. Continue reading

Wills – Perils of Probate

Published October 24, 2014 by The United Methodist Foundation of the Tennessee and Memphis Conferences

Business Owner passed away on April 5, 1976, with an estate of $2.5 billion. Many people appeared claiming, “I am Business Owner’s heir” and submitted wills with themselves as beneficiaries. The court finally determined seven years later that none of the wills were valid and split the estate among 22 of the decedent’s cousins. The costs and fees to lawyers during administration of Business Owner’s estate were in the millions of dollars. Continue reading

Wills – Good and Bad

Published November 2, 2012
United Methodist Foundation for the Tennessee and Memphis Conferences

Where is the Missing Will?

More than 40 wills were submitted to the probate court, with a multitude of potential heirs each claiming to be the true recipient of a wealthy business owner who passed away in 1976. With a $2.5 billion estate at stake, there was an intense interest in the decision of the court.

After extensive review of the 40 documents, the court finally determined that none of the 40 wills were valid. Because there was no valid will, the court divided the $2.5 billion estate among 22 relatives. Court costs, attorney costs, and estate taxes were enormous, but the 22 heirs still each received millions of dollars.

 Why is a Will Important?

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