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Pennsylvania Asset Protection & Estate Planning Blog Will & Trust Attorney Blog For Unruh, Turner, Burke & Frees
Estate and Inheritance Tax Planning
Will Updates - Why Current and Clear Are Important - The Michael Jackson Estate
Updating your will and having clear instructions and information for your executors are vitaly important - as the Michael Jackson situation has revealed.According to the Wall Street Journal, Jackson's estate is highly complex. His debts are over $500,000,000.00 dollars but his assets may exceed that by $200,000,000.00. He has three children (from various complicated arrangements). Currently, his mother is the guardian pending a hearing in July.
Yet, his last will was drafted in 2002 and it's location and existance were unclear.
His mother even petitioned the court believing that he might have died intestae (without a will). Clearly, his family and executors did not have the information that they needed in the event of his death.
This situation points out the need to:
1) update your will regularly
2) have clear instructions for your executors in the event of your death
3) update guardianship provisions and trusts for children and minors
4) store your will in a safe place and let your executor(s) know its location
Michael Jackson's estate will no doubt have other lessons for us and we will keep you posted. If you would like to read more about Michael Jackson's estate in the wall street journal click here.
David M. Frees III
Chairman: Trusts, Estates and Wealth Preservation
Unruh, Turner, Burke and Frees
610-933-8069
Attorney David M. Frees III whose practice involves trusts, estates, wills, and estate and asset protection planning, has just published a new (and free) guide for executors of wills probated in Pennsylvania. The report entitled: The Ten Most Common Mistakes That Executors make and How To Avoid Them. This is a guide for executors to prevent personal liability and a guide to you if you're planning your estate and need to decide who is the best executor.
David Frees and Unruh, Turner, Burke and Frees have offices located conveniently in Malvern, Phoenixville, and West Chester Pennsylvania. Just click here for directions.
If you are an executor, or if you need to update an old will, trust, or estate plan, or if you need to do one for the first time, call 610-933-8069 and ask for one of David's assistants for an appointment with David or one of his team.
Please tell us that you're calling from our estate planners web site and you will receive a bonus when you come for an appointent or you have a telephone conference with David.
David Frees has attained AVVOs highest lawyer rating of "superb" or 10. For more information on David Frees' AVVO rating click here.
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Phone: (610) 933-8069
Fax: (610) 240-9323
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Malvern
116 E. King St.
Malvern, PA 19355
Phone: (610) 240-0750
Fax: 610-240-9323
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17 W. Gay St.
P.O. Box 515
West Chester, PA 19381
Phone: (610) 933-8069
Fax: 610-240-9323
See David by Appointment call 610-933-8069 For David Frees
Get Directions
Offices
Offices
Phoenixville
120 Gay St.
Phoenixville, PA 19460
Phone: (610) 933-8069
Fax: (610) 240-9323
Regular Business Hours
Malvern
116 E. King St.
Malvern, PA 19355
Phone: (610) 240-0750
Fax: 610-240-9323
By Appointment
West Chester
17 W. Gay St.
P.O. Box 515
West Chester, PA 19381
Phone: (610) 933-8069
Fax: 610-240-9323
See David by Appointment call 610-933-8069 For David Frees
