As discussed in last week's post we will continue this week on the importance of remembering digital assets in estate planning activities. Many in Michigan and elsewhere spend a good portion of their time online performing a variety of activities from gaming to investing and sharing photos. In doing so we are creating an online legacy of sorts in which we may want our loved ones to have access to in the event we become incapacitated. The United States General Services Administration suggests people consider creating a "social media will" of sorts.
A lawyer is accusing a Michigan judge and two other probate lawyers of conspiracy in attempting to bilk civil rights icon Rosa Parks' estate out of $507,000 in legal fees, according to court papers. Ms. Parks' estate consists of several thousand pieces of civil rights memorabilia, including her personal papers, letters, photos, books, awards and, clothing, all of which has been valued at upwards of $10 million. The items have been sitting in an auctioneer's warehouse for months as the estate's probate litigation continues.
Since many couples delay marriage, or simply do not marry at all, Massachusetts residents may wonder what happens when you own a home with another in a joint tenancy and one person listed on the title dies. One reader wanted to know if there was an inheritance tax in just that situation, so we thought others may be interested in the topic as well.