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☆ Can you can leave your estate to your pet?
▼ + stars: | 2024-09-14 | by ( Alexandra Peers | ) edition.cnn.com time to read: +5 min

CNN —Some people really do leave money to their pets. Estate attorneys told CNN they’re seeing more incidences of people making financial plans for their pets after they die. Twenty-nine states have enacted pet trust laws since 2008, and now every state, plus Washington, DC, has some form of guidelines, according to the American Society for the Prevention of Cruelty to Animals. However, if a person names a guardian for their pet, they can leave money and property to that person. dpa/picture alliance/Eventpress/SipaFlorida attorney Peggy Hoyt, author of “All My Children Wear Fur Coats,” told CNN she urges her clients to leave comprehensive instructions for pet caretakers.

Persons: Karl Lagerfeld, Chanel, ”, “, can’t, Leona Helmsley, Helen Neafsey, —, Leona Helmsley’s, it’s, Majel Barrett, Roddenberry, Gene Roddenberry, Karl Lagefeld, Choupette, Lagerfeld, Peggy Hoyt, Leslie Ann Mandel, Arthur Herzog III, Danielle Mania, ’ Organizations: CNN, American Society for, Karl, Palazzo Italia, Hamptons, Associated Humane Societies Locations: Washington, Greenwich, Conn, New York, Asia, Shanghai, Berlin, Germany, Sipa Florida, New Jersey

☆ Warren Buffett wants his children to give away his $130 billion fortune. Does that set up a 'Succession'-style fight?
▼ + stars: | 2024-07-11 | by ( Madeline Berg | ) www.businessinsider.com time to read: +6 min

Looking at their individual organizations, the Buffett children could make for some strange charitable bedfellows once their father dies. AdvertisementWhat the Buffett children do nowSusie runs the Sherwood Foundation, which has given more than $1 billion to build equity in her native Nebraska across social justice, education, and healthcare. Howard Buffett is set to take the reins as Berkshire Hathaway non-executive chairman when his father Warren Buffett steps down. Leigh Vogel/Getty ImagesHowie, the middle Buffett, focuses his time on food security, as well as conflict mitigation and combatting human trafficking, through his Howard G. Buffett Foundation. Harold, the nonprofit expert, said the worldviews of the Buffett children should serve them well.

Persons: —, Warren Buffett, haven't, Buffett, Susan, Howard, Peter —, Susie, Peter didn't, Howie, Jacob Harold, Susan Thompson Buffett, Howard Buffett, Berkshire Hathaway, Leigh Vogel, Howard G, he's, He's, Peter, Buffett's, we've, Harold, Harry, Leona Helmsley Organizations: Service, Bloomberg, Business, Wall Street Journal, Sherwood Foundation, Susan Thompson Buffett Foundation, University of Nebraska, Inc, Democrats, Democratic, Berkshire, Buffett, Buffett Foundation, NoVo Foundation Locations: Omaha, Nebraska, Ukraine, Kingston , NY, Israel, Saharan Africa

☆ Opinion | A Tongue-Lashing for a Defense Witness Isn’t Great News for Trump
▼ + stars: | 2024-05-20 | by ( Jonathan Alter | ) www.nytimes.com time to read: +1 min

Eight times a day during his felony trial, the former president of the United States must stand and honor 12 jurors and six alternates as they walk past, eyes straight ahead or down, casting no glances at him. It’s inspiring to watch these ordinary citizens as sovereign soldiers for justice. On Monday, this calm processional was disrupted, as jurors were forced to hurry out after a pro-Trump witness for the defense mocked the authority of the court. Moments later, Justice Juan Merchan ordered the courtroom immediately cleared and reporters fled in a frenzy. Michael Cohen had testified earlier that Costello and Rudy Giuliani were assigned by Trump to open a “back channel” to Cohen to keep him in the Trump fold.

Persons: Juan Merchan, Robert Costello, George Steinbrenner, Leona Helmsley, Michael Cohen, Costello, Rudy Giuliani, Cohen, Trump Organizations: Trump Locations: United States

☆ The scientist behind IBM Watson has raised $60 million for his AI startup in New York
▼ + stars: | 2023-08-17 | by ( Hayden Field | ) www.cnbc.com time to read: +3 min

David Ferrucci, a prominent artificial intelligence researcher who led the team that created IBM Watson , has raised nearly $60 million for his AI startup called Elemental Cognition, according to a regulatory filing. The filing on Thursday says the company sold $59.95 million worth of equity to 17 investors and plans to raise another $5.75 million. Ferrucci led IBM Watson between 2006 and the end of 2012, during which time the computer system famously won "Jeopardy!" He then ran AI research for Bridgewater Associates, one of the world's largest hedge funds. In January of last year, the company sold its Watson Health unit for an undisclosed amount to private equity firm Francisco Partners.

Persons: David Ferrucci, Watson, Cora, Ferrucci, IBM Watson, David Shepler, Eric Brown, Mike Barborak, Jim Breyer, Sam Palmisano, Greg Jensen, Bridgewater's, Geoff Yang, OpenAI's Organizations: IBM, Bridgewater Associates, Rensselaer Polytechnic Institute, Bridgewater, Breyer Capital, Facebook, Redpoint Ventures, CNBC, Investors, Health, Francisco Partners Locations: New York, New, Helmsley, guardrails, China

☆ Inheritance for your dog: How the rich put millions into trusts with very specific purposes, from taking care of pets to cryogenically freezing their bodies
▼ + stars: | 2023-07-28 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +7 min

Lawyers to the uber-rich told Insider how purpose trusts work and how to plan for centuries ahead. Fortunately, there is a workaround: purpose trusts. Trusts are well-known as a tool for saving millions on taxes, but purpose trusts are seldom used to pay less to Uncle Sam. Here is how purpose trusts workPurpose trusts are not absolutely necessary to make sure your pets are cared for after you pass, Yadav told Insider. Purpose trusts set up to maintain art collections usually include a timeline for liquidating or donating the artworks, according to lawyer Neil Solarz of Weinstock Manion.

Persons: Leona Helmsley, Naomita Yadav, Uncle Sam, Yadav, perpetuities, Neil Solarz, Weinstock Manion, Solarz, that's, Samantha, someone's, Shepherd Organizations: Siberian huskies, huskies Locations: Withersworldwide, California

☆ How the rich put millions into trusts to take care of their pets and pay for cryogenic freezing after they die
▼ + stars: | 2023-07-26 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +7 min

The rich can use trusts to devote millions to pets, art collections, and even cryogenic freezing. Lawyers to the uber-rich told Insider how purpose trusts work and how to plan for centuries ahead. Fortunately, there is a workaround: purpose trusts. Trusts are well-known as a tool for saving millions on taxes, but purpose trusts are seldom used to pay less to Uncle Sam. Here is how purpose trusts workPurpose trusts are not absolutely necessary to make sure your pets are cared for after you pass, Yadav told Insider.

☆ How WWE’s Vince McMahon ruthlessly got his job back despite allegations of sexual assault and misuse of company funds
▼ + stars: | 2023-01-14 | by ( Kyle Feldscher | ) edition.cnn.com time to read: +12 min

WWE has always been a family business – Vince McMahon, Sr., handed over the reins to his son in the 1980s – and it seemed set to continue that way. Why was Vince McMahon stepping aside such a big deal? Vince McMahon was more akin to a king than a business executive in the world of WWE, his fingerprints on everything. Once considered a wrestling genius, critics have more recently come to consider Vince McMahon a creative liability. McMahon,” Vince McMahon’s devious on-screen character, who served as wrestling’s greatest heel for years in the late 1990s and early 2000s.

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