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Michael Jackson’s Will on Video and Put to Music.

It seems that just about everything makes it onto the Internet these days. As many people may know from their discussions with me, Michael Jackson’s Last Will and Testament made huge news but said very little. The King of Pop put together a revocable living trust, and the terms of that trust were kept private and away from the public’s eyes. But you never would have guessed that from all of the coverage. They made it sound as if the battle over the Will was a battle over the estate, but all the Will really did was appoint guardians for his children and said nothing about the money.

Maximizing Gifts

It has almost become a cultural mystery for many Americans, but there is a good reason for it. Every November or December, certain families start getting checks from parents or grandparents in increments of $13,000 and no one really understands why. “Hey, isn’t this cool?” a twenty-one year old college student would tell their classmate. “My grandparents just sent me $26,000!”

When asked why, they would reply, “Oh, it’s some tax thing.”

Retirement Account Beneficiary Designations Need Checking

It’s extremely easy for me as the attorney to recommend how assets should be retitled or beneficiaries changed on accounts so they work with a revocable trust to avoid probate. All real estate, bank accounts, brokerage accounts, mutual funds, and even life insurance should be retitled in the name of the trust. Beneficiaries on life insurance policies should also be changed to name the revocable living trust as the beneficiary. But retirement accounts are not that easy because there are income tax consequences. Unless there is a specific reason otherwise, spouses will name each other as the primary beneficiary. The contingent beneficiary is where we have to make decisions. And it is shocking how many times this is wrong.

Lawyers Need to Be Aware of Their Online Reputation

Lawyers need to be pro-active when handling their online reputation, if not it could cost you clients in the long run.

In Tough Economic Conditions, Client Retention is More Important than Ever

Many clients are looking for an attorney based on price, but providing superior customer service can lead to a long term relationship.