I thought I would check in at this point with estate planning lessons learned thus far from Michael Jackson's death. I am sure there will be more during what is the beginning of a long and complex estate planning saga:
FIRST, you must have a will that is up-to-date and valid.
SECOND, you must name the guardian of your minor children and address potential issues and challenges from a surviving parent who is not named as guardian.
THIRD, you must name the executors who will gather up and protect your assets and ensure distribution in accordance with your will.
FOURTH, you must provide for the distribution of your assets, but you are not required to provide for parents, siblings, an ex-wife, or other family members.
FIFTH, unlike a will, a trust, with all its terms and conditions, is not a public document.
Comment on what lessons you might have learned or contact us at www.ythlaw.com
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