People.com is reporting that Amber Heard, who received a $7 million settlement in her divorce from Johnny Depp this week, is donating the entire $7 million settlement to charities with “a particular focus to stop violence against women” as well as the Children’s Hospital of Los Angeles.
In light of this newsworthy charitable donation, we thought now would be a good time to remind everyone of some of the basic income tax deductions available for gifts to charities. (more…)
At a minimum, we recommend that our clients review their existing estate planning documents every few years, and also when big life changes are happening. Going through a divorce is one of those times. Here are some things to consider when you are considering divorce or separation, and after your divorce is final: (more…)
In the recent decision, Pfannenstiehl v. Pfannenstiehl, the Massachusetts Judicial Supreme Court overruled the appeals court decision and concluded that assets held in a discretionary trust created by a third party, where the husband is but one potential beneficiary of the trust, is not a marital asset to be divided on divorce. (more…)
It’s June. Wedding season is upon us. It is a good time to think about prenuptial agreements. If you are engaged to be married, should you have a prenuptial agreement? At the minimum, you should at least consider the implications of marriage with or without such an agreement. (more…)
Private Client Partner Renee Gabbard participated in the attached presentation on Trust Alternatives to Prenuptial Agreements. We are pleased to provide you with the audio of this presentation through the link below.
Maybe it is all the time spent with friends and family, or the spirit of giving, or maybe it’s just all the mistletoe, but whatever the reason, the few months from Thanksgiving through Valentines Day always seem to be filled with engagements. As all of these happy couples begin to plan their weddings, and their lives together, many spend more time thinking about the band, picking out the perfect cake or looking for that perfect starter home than they do preparing for what may happen if things unravel down the road. Unfortunately, today the odds are not in favor of happily ever after.
Divorce is a difficult reality that many couples will eventually face. Entering into a prenuptial agreement before walking down the aisle can protect both parties should divorce become a reality. A prenuptial agreement is an agreement between the engaged couple to address how specific issues will be handled should the marriage end in divorce and on death. While these agreements may not be necessary for everyone, they are not just for the rich and famous!
Yes, they are important for the super wealthy, particularly important if one spouse brings substantially more wealth into the marriage; however, they may also be important for a host of other reasons. (more…)