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☆ Writing your will is 'not just a question about finances,' expert says. Here's why it's a crucial task
▼ + stars: | 2024-05-08 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

If the bank were to throw a $500 incentive on top of that aid, 75.6% said they would do it. However, survey respondents saw that workload as a detriment. About 40%, of U.S. adults feel they do not have enough assets to prepare an estate plan or a will, a 21% jump compared with 2022, according to Caring.com's 2024 Wills and Estate Planning Study. "Wills and estate planning are essential for everyone, not just the wealthy," Patrick Hicks, general counsel of Trust & Will, a digital estate planning and probate platform, said in the Caring.com report. Not having the proper estate planning documents in place can put your loved ones in a difficult situation in a catastrophic event, Cornell explained.

Persons: Wettstein, Wills, Patrick Hicks, Cornell Organizations: Center for Retirement Research, Will Locations: U.S

☆ My parents gave me a name that I hated. At 38, I legally changed it as a birthday present to myself.
▼ + stars: | 2024-04-25 | by ( Jane Ridley | ) www.businessinsider.com time to read: +5 min

The mom-of-two legally changed it to her beloved nickname as a birthday present to herself at 38. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . My 38th birthday was coming up in June 2000, and I knew exactly what I wanted to give myself as a present. I decided to legally change my birth name — which I hated — to my nickname. But my parents sometimes called me by my birth name, especially when they were angry or disciplining me.

Persons: Lissy Dunning, Phyllis, —, Elaine, Patricia Elizabeth, Phyllis Diller, Alexander, Alex, They've, Autumn, I'd, I'm, I've Organizations: Service, Business Locations: Ohio, Michigan

Estate planning may not be a topic you want to think about, but it's essential for small-business owners. Estate planning is a very sensitive, emotional topic, but as a financial planner, I believe it's essential to discuss. Estate planning should be a top priority — especially for Black business owners seeking to build generational wealth and preserve their legacies. Digital estate planning documentA common blind spot in estate planning is the digital asset space. Digital estate planning will make it easier for your heirs to access your digital assets as needed.

Persons: —, doesn't Organizations: Service

☆ A myth about Irish immigrants who came to the US during the potato famine gets debunked in a new book
▼ + stars: | 2024-03-17 | by ( Catherine E. Shoichet | ) edition.cnn.com time to read: +22 min

In part, that was because it was just impossible to trace Irish famine immigrants and find out what had happened to them. This is just inconceivable to anyone who had ever thought about the famine Irish given the obstacles that faced them. Biden is one of four US presidents who descended from Irish famine immigrants. The famine immigrants really were the ones who cemented the idea of the American Dream as we understand it today. At the time, the neighborhood was home to the more Irish immigrants than any other part of the city.

Persons: CNN — Tyler Anbinder didn’t, Anbinder, Martin Scorsese, ”, …, “ It’s, ” Anbinder, Richard Ljoenes, —, ’, Patrick’s, there’s, “, Michael Sullivan, they’re, Biden, Obama, Reagan, Kennedy, Joe Biden, Kevin Lamarque, He’s, Pope, I, ” Biden doesn’t, George Washington, There’s, you’ve, Alderman John Barry’s, Tyler, Tyler Anbinder, he'd, Chris Langford, can’t, United States —, John Carlin, saloonkeepers, Saint Louis Organizations: CNN, Emigrant Savings Bank, New York Public Library, Irish, George Washington University, St, they’re Catholic, London, Hulton, Murphys, Reuters, New York Tribune, George Washington Bridge, New York Central Railroad, York, New York Public Locations: New York, York, United States, America, Europe, Liverpool, Ireland, County Mayo, Rome, Irish, Manhattan, Yorkers, New, New York City, Chicago, California, Minnesota, Saint

I thought it wasn't worthwhile to invest in an estate plan if I didn't have any assets. In the United States, the primary intellectual property categories are patents, trademarks, copyrights, and trade secrets. You can also detail the uses of your intellectual property that are allowed in the future." Since your family might not know the full extent of your intellectual property, Hayes recommended making a list of any intellectual property you might have. "Everyone in today's world has digital assets," Hayes said.

Persons: —, Monique Hayes, Hayes, It's Organizations: Service Locations: United States

☆ Searching for your Irish ancestry? Guinness’ archives could help you reconnect with your roots
▼ + stars: | 2024-03-08 | by ( Catherine E. Shoichet | ) edition.cnn.com time to read: +6 min

“It’s, unfortunately, one of the biggest barriers to Irish family history research,” says Crista Cowan, corporate genealogist for Ancestry. The 1.6 million records come from what might sound like a surprising source: the archives of Ireland’s famed Guinness brewery. The Guinness brewery has a storied pastResearchers combing through the newly released files might stumble upon some celebrity connections, too. Courtesy Guinness Archive, Diegeo IrelandArthur Guinness signed a 9,000-year lease on a Dublin brewery in 1759. Courtesy Guinness Archive, Diageo IrelandWorkers generally entered the Guinness workforce at age 14, according to a description of the records on the company’s website.

Persons: “ It’s, ”, Crista Cowan, they’ll, Patrick’s, Cowan, ” Cowan, “, who’s, John O’Brien, Liam Neeson, Graham Norton, Bono, Arthur Purcell, who's, Purcell, Arthur Guinness, “ Guinness, …, Eibhlin Colgan, ” Guinness, Guinness, ‘ Organizations: CNN, Public Records, Ireland’s, Guinness, Diegeo, Records, Brewery, Diageo, Diageo Ireland Workers Locations: Dublin, St, Ireland, Diegeo Ireland, United Kingdom, United States, Diageo Ireland, James’s, James's

☆ Man who lived frugally leaves unexpected gift of $3.8 million to small New Hampshire town after death
▼ + stars: | 2023-11-21 | by ( Michelle Watson | ) edition.cnn.com time to read: +3 min

CNN —A man who lived frugally all his life left an unexpected gift of $3.8 million after his death to his small New Hampshire town with less than 4,000 residents. He moved to New Hampshire in 1968 and lived on his social security checks for the last 15 years of his life, Smith said. Holt lived in a trailer park in the town, and the kitchen chairs in his mobile home were made of plywood, Smith said. The nearly $4 million gift came from a trust fund Holt established in 2001, primarily made in mutual funds accounts, according to Smith. A ‘transformational’ gift for a small communityThe town is considering various avenues to use the funds from the newfound gift, Lynch said, including possibly buying an electronic voting machine and fixing the town hall clock, which doesn’t work properly.

Persons: Geoffrey Holt, Edwin “ Smokey ” Smith, Holt’s, Smith, Holt, “ Geoffrey, ”, Hinsdale , New Hampshire Robert F, ” Smith, …, Kathryn Lynch, Lynch, ” Lynch, Kristen Oliveri, ” Oliveri, “ Organizations: CNN, New, New Hampshire Charitable Foundation Locations: New Hampshire, Hinsdale, Massachusetts, Hinsdale , New Hampshire, ”

☆ Scooter Braun's right-hand man wanted to make Camila Sterling a star. After she died in his hotel room, he wanted the world to forget.
▼ + stars: | 2023-11-08 | by ( Anna Silman | Jack Newsham | ) www.businessinsider.com time to read: +33 min

He also created an LLC under his initials in 2021, seemingly for the sole purpose of releasing Sterling's music. But since Sterling's death, Bolno has worked to distance himself from the tragedy and buff his reputation online. On June 29, 2023, three months after Sterling's death, Ozuna and Andino signed to SB Projects, Scooter Braun's management company. Since Sterling's death, Bolno has appeared to try to distance himself from the tragedy. However, in September, a message from Centeno's email address sent on behalf of Sterling's mother asked Insider to stop reporting on Sterling's death.

Persons: Camila Sterling, David Bolno, Scooter Braun's, Drake, Post, Bolno, Sterling, — who's, Daily Mail —, —, Laura Camila Lozano Sterling, Selena Gomez, Enmanuel Hernández Rodriguez, Rodriguez, it's, Scooter Braun, Taylor Swift, Camila Sterling's, Shaun White, schmoozing, sunning, David Geffen's, he's, Will.i.am, Justin Bieber, hadn't, bigwig, He's, Mariah Carey, Braun, Ariana Grande, Demi Lovato, Scooter, who's, Scooter hasn't, Peter Comisar, Comisar, Michael Tran, Bieber, he'd, David Grutman, LIV, Grutman, she'd, I'm, David, Usher, Sterling's, John Parra, I'd, Nordhia Centeno, Laura Castellanos Torres, Edgar Andino, Andino, Sterling wasn't, Gabby, there's, Sterling texted, Escalade, Cartier Juste, Bruce Lehr, tusi, Fabio Cabrera, Ernesto Rodriguez, Evan Siegfried, Mickey Segal, NKSFB, Nubia Esperanza Sterling Artunduaga, Camila, Rocio Cruz Maldonado, Centeno, Marcie Stefan Organizations: Miami Beach, Daily Mail, Miami Beach Police Department, Puerto, Sterling, Trump, Intracoastal Yacht, Space, Miami Dade College, Puerto Rican, Pump, Miami, DTB Records, Spotify, Records, Temple Law School, Ithaca Holdings, luxe Paramount Miami, Studios, Bay Eight Recording Studios, YouTube, Zero, SB Projects, Paramount Miami Worldcenter, Representatives, Police, Unreal Mobile, Red Pocket, European Business, University of Locations: Post Malone, Miami, Sterling, Latin America, Colombia, Bogotá, American, Puerto Rican, Sunny, Moscow, Sunny Isles, Givenchy, Cuba, Los Angeles, Delaware, Puerto Rico, New York City, Medellín, Ithaca, Korean, Brentwood, North Miami, French Montana, Bolno's, Miami Beach, Jerusalem, Nubia

Matt LeBlanc as Joey Tribbiani, Matthew Perry as Chandler Bing, Jennifer Aniston as Rachel Green and Courteney Cox as Monica Geller on NBC's "Friends." A spokesperson for Warner Bros., which owns the show's distribution rights, declined to verify or comment on the residual payments. What may happen to Perry's 'Friends' residualsWhen an actor passes away, residual payments are considered the actor's personal property. The Screen Actors Guild-American Federation of Television and Radio Artists has contracts in which its members can list beneficiaries for residual payments upon death. Charity may have figured into Perry's estate

Persons: Matt LeBlanc, Joey Tribbiani, Matthew Perry, Chandler Bing, Jennifer Aniston, Rachel Green, Courteney Cox, Monica Geller, NBC's, ", Perry's, Charlie Douglas, Perry, Franklin, Douglas, there's, Tasha Dickinson, Pitney, David Johnston, Keith Morrison, David Oh Organizations: NBC, Getty, Warner Bros, CNBC, HH, Investments, American Federation of Television, Radio Artists, Finance, Wealth, Arta Finance Locations: California, Atlanta, Arta

☆ I inherited my dad's house at 33 after he died unexpectedly. The guilt and embarrassment of suddenly having money was painful.
▼ + stars: | 2023-10-28 | by ( Gary Nunn | ) www.businessinsider.com time to read: +7 min

My sister and I inherited his house and sold it to put deposits down on our own apartments. We knew we'd inherit the house and his possessions; he'd told us we were the only people in his will. We had two weeks to put our dad's house on the market, clear out 40 years of memories, and decide what to do with all his possessions. AdvertisementAdvertisementIt took me a long time to accept the inheritanceI was almost embarrassed by suddenly having money. AdvertisementAdvertisementThe money didn't feel like mine and neither, to a certain extent, did the flat.

Persons: —, Dad, he'd, everything's, We'd, We've, hadn't, should've, I'd, I'm, sharer, I've, wouldn't, didn't Organizations: Service Locations: Australia

However, I'm much happier using local banks and credit unions where I can get more personal help. Credit unions aren't always perfect, but I'm happy to deal with the occasional hurdles. Savings and loans disappeared after the S&L crisis, but credit unions are very similar, and I have always stuck with local banks and credit unions for my business and personal banking. My credit union has no branches near where I live, and I sometimes have to pay ATM fees because I can't find a compatible ATM. The credit union gave us a good rate and stability that I hope to stick with until we pay off the loan.

Persons: —, I've, Wells Fargo, we've Organizations: aren't, Service, Ls, Savings Locations: San Francisco, California, East Coast

Lawyers representing the couple also said the Tuohys would enter into a consent order to end the conservatorship. But Oher’s conservatorship was approved “despite the fact that he was over 18 years old and had no diagnosed physical or psychological disabilities,” his petition said. The Tuoys' filing said Oher referred to them as “mom” and dad," and they occasionally referred to Oher as a son. Agents negotiated a small advance for the Tuohys from the production company for “The Blind Side,” based on a book written by Sean Tuohy’s friend Michael Lewis, the couple’s lawyers have said. The attorneys said they estimated each of the Tuohys and Oher received $100,000 apiece, and the couple paid taxes on Oher’s portion for him.

Persons: Michael Oher, Sean, Leigh Anne Tuohy, Oher, Sandra Bullock, Oscar, Oher’s conservatorship, ”, ” “, Tuohys, Sean Tuohy, ” Ole Miss, Ole, Sean Tuohy’s, Michael Lewis, “ Organizations: NFL, Oher, NCAA, University of Mississippi, Ole Miss, Agents, Baltimore Ravens, Tennessee Titans Locations: MEMPHIS, Tenn, Memphis, Tennessee, Mississippi, Carolina

I made a ton of money mistakes in my 20s and have been trying to clean things up. I finally sat down with a financial planner, and he pointed out five mistakes I'm still making. I had spent most of my 20s making all kinds of money mistakes (from not saving for retirement to racking up credit card debt). I'm making this mistake because I'm not sure what else to do with that money and I'm scared to lose it. "To do so, you'd open a traditional IRA account and a Roth IRA account, then make 'nondeductible traditional IRA contributions' and convert the funds over to the Roth IRA."

Persons: I'm, Adam Scherer, Scherer, it's, doesn't, Get, I'd, Roth, we've, we're Organizations: Service, Greenbeat, Roth IRA, Roth Locations: Wall, Silicon

The John Adams Courthouse, where the Massachusetts Supreme Judicial Court presides, stands in Boston, Massachusetts, U.S., September 7, 2023. In a unanimous ruling Thursday, the Supreme Judicial Court of Massachusetts upheld a 2018 lower court ruling that the state acted in bad faith in regulating the Canton-based Judge Rotenberg Educational Center. The legal fight over the facility began in 1985, when the state sought to ban the shock treatment. In 2013, the state sought to terminate the consent order altogether, before Judge Field's ruling in 2018 that it was still necessary because of state regulators' bad faith conduct. A federal appeals court in 2021 ruled in a separate case that the U.S. Food and Drug Administration could not ban the shock device.

Persons: John Adams, Brian Snyder, Katherine Field, JRC, Michael Flammia, Scott Kafker, Judge Field's, Brendan Pierson, Alexia Garamfalvi, Deepa Babington Organizations: REUTERS, Massachusetts, Rotenberg Educational, Probate, state's Department of Developmental Services, U.S . Food, Drug Administration, Thomson Locations: Massachusetts, Boston , Massachusetts, U.S, Canton, Bristol, New York

☆ Jeffrey Epstein's New Mexico ranch just sold, 2 years after it was listed for $27.5 million
▼ + stars: | 2023-08-24 | by ( Haley Tenore | Associated Press | ) www.businessinsider.com time to read: +3 min

Jeffrey Epstein's New Mexico property, Zorro Ranch, sold after two years on the market. The ranch was listed for $27.5 million in 2021, then dropped to $18 million last year. Over the past year, some of Epstein's' other properties have sold, including two private islands. An attorney for Epstein's estate, Daniel Weiner, confirmed Tuesday that the ranch had been sold for an undisclosed price, and the proceeds would be used to administer the estate and pay creditors. AdvertisementAdvertisementIn May, two of Epstein's infamous private islands sold for $60 million — less than half of their initial asking price of $125 million.

Persons: Jeffrey Epstein's, Epstein's, Zorro, Jeffrey Epstein, Daniel Weiner, Weiner, Epstein Organizations: Service, Rafael Ranch, Santa Fe New, Virgin Islands, Federal Locations: Mexico, Wall, Silicon, Rafael, Santa, Albuquerque, Virgin, Paris, Manhattan, New Mexico, Santa Fe

Considering contributing to a 529 plan for their college education, or making them your life insurance beneficiary. But when that generosity comes at the cost of depleting your own retirement savings, the prospect becomes a lot less compelling. At current levels, most American families will have absolutely zero interaction with federal estate taxes. Amorello explained: "Gifting money actually can help grandparents lessen their own net worth to lower estate taxes. Because if you're leaving behind an inheritance, but half of it is going to the estate taxes, that can be a daunting realization."

Persons: Kathryn Amorello, Don, It's, Amorello, you've, they're, we've, — Organizations: Service, Financial, Internal Revenue Service Locations: Wall, Silicon, Amorello

More than four years of family conflict over the estate of Aretha Franklin ended Tuesday when a Michigan jury decided what her family could not — which of two hand-scrawled wills represented the famed singer’s true wishes for how to divide her estate. The verdict resolved more than four years of uncertainty that caused a rift in Franklin’s family, and it sets in motion a plan for how income and assets from her estate should be divided. After the singer died, at age 76, her family believed she had no will. Under Michigan law, her assets would have been divided equally among her four sons: Kecalf, Edward and Clarence Franklin, and Ted White Jr. The sons unanimously selected a cousin as the estate’s personal representative, a position similar to that of an executor.

Persons: Aretha Franklin, Franklin, Kecalf, Edward, Clarence Franklin, Ted White Jr Organizations: Michigan Locations: Michigan, Pontiac, Mich

So how can the estimated 4% to 5% of the population in the US who identify as being polyamorous approach their finances and money management in their relationships? There are many different poly relationship arrangementsAs Waymire explains, there are infinite poly relationship configurations. These are just a few examples of poly relationship configurations. Challenges in the transfer of generational wealthWaymire has seen clients disowned by parents for their polyamorous relationship structures, which can affect transfer of generational wealth. Have money conversations oftenSchedule money check-ins as often as needed.

Persons: —, Jackson Kendall, Michelle Waymire, Kendall, Waymire, aren't, Jackson, Polycules, Chaneé Jackson, Chaneé Jackson Kendall, polycule, it's, we've Organizations: Service, Young, Jackson Locations: Atlanta , Georgia, Jackson

☆ Nearly 75% of home purchases in a Bay Area city were made by LLCs or trusts. It's a trend among the wealthy.
▼ + stars: | 2023-05-21 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +3 min

The city near San Francisco is one of the richest areas of the country, on average. It's also part of a trend which has wealthy Americans creating trusts or LLCs to buy homes. It's also a prime example of a new trend among the country's wealthiest homebuyers, according to the Chronicle. On one block highlighted by the Chronicle's report, just two of the 12 homes are actually owned by individual people, with the rest owned by trusts, LLCs, or other kinds of corporations. "If someone sets up a trust, it's almost like a corporation that continues to live beyond the person," Michael Repka, CEO and managing broker for DeLeon Realty, told the San Francisco Chronicle.

☆ 5 key things to know when you create a will and make other end-of-life plans
▼ + stars: | 2023-03-19 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +6 min

Here are five key things to know if you start thinking about how you'd craft an estate plan. A will may not cover all your basesA will is a basic part of an estate plan. Be aware that many 401(k) plans require your current spouse to be the beneficiary unless they legally agree otherwise. watch nowAdditionally, an estate plan should include other end-of-life documents, including a living will. You'll need to revisit your estate plan

☆ In her will, Ivana Trump left her former nanny a $1 million condo — and her Yorkshire terrier, Tiger Trump — and nothing to ex-husband Donald Trump
▼ + stars: | 2023-01-18 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

Ivana Trump's last will is now a matter of public record, following her death last July. She left a majority of her estate to her children: Donald Trump Jr., Ivanka, and Eric, records show. Ivana left her dog and a $1 million condo to her former nanny, and donated her clothing. Curry spoke at her funeral last July, alluding to Ivana Trump feeling isolated and in pain. Ivana Trump went on to marry twice more before her death at age 73.

☆ Ivana Trump's will directs Eric Trump to sell all of her furs and donate the rest of her clothes to charity
▼ + stars: | 2023-01-18 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +3 min

Ivana Trump's will directed Eric Trump to sell all her furs and divy the proceeds among his siblings. Ivana Trump — a Czech-American former model, businesswoman, and ex-wife of Donald Trump — died in July 2022 at 73. Her longtime friend and furrier Dennis Basso spoke to the New York Times shortly after her death in July about Ivana's affection for furs. Basso told the New York Times he met Ivana at his debut fashion show in New York City in 1983. The execution of Ivana Trump's final wishes was finalized at the end of last year, according to probate records in Miami-Dade County, Florida, where she held her permanent residence.

For Love & Money is a biweekly column from Insider answering your relationship and money questions. Write to For Love & Money using this Google form. Sincerely,Afraid of starting a family feudDear Afraid,What would For Love & Money do? If this is the case, all you will need to do is babysit the situation until your parent's inheritance is legally secured. Perhaps indirectly, your parent's inheritance may filter down to you by alleviating the financial costs of any care they need as a disabled adult.

When you hear "trust" you may think of a "trust fund baby" whose family money keeps them afloat. You don't need to be wealthy to protect and direct your assets — anyone can use a trust. We definitely don't need a trust," my husband said, looking at me like I had mentioned a private plane or five-star holiday. So, I reached out to Jala Eaton, an estate planning lawyer and founder of On My Own Financial. You've probably heard of "trust-fund babies" — those lucky, independently wealthy folks who live off the family trust.

☆ Republican John James faces off against Democrat Carl Marlinga in Michigan's 10th Congressional District election
▼ + stars: | 2022-11-02 | by ( Hanna Kang | ) www.businessinsider.com time to read: +3 min

Republican John James is running against Democrat Carl Marlinga in Michigan's 10th Congressional District. The 10th District is centered around southern Macomb County. Michigan's 10th Congressional District candidatesJames is a businessman who graduated from West Point and served eight years in the Army, participating in multiple tours in Operation Iraqi Freedom. Marlinga, James' opponent, is a former judge on Michigan's 16th Judicial Circuit Court and Probate Court. Voting history for Michigan's 10th Congressional DistrictMichigan's 10th Congressional District is centered around southern Macomb County, long been considered as the state's bellwether, and home to the state's third and fourth largest cities, Warren and Sterling Heights.

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