J. Kelly Kennedy, Attorney/CPA, PLLC

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Attorney and CPA

May 2017 Archives

Name an executor to your amassed estate

There are endless reasons one may potentially like to set up an estate plan. Whether to benefit while you are alive or after you have passed away, estate plans are helpful to ensuring one's assets stay on track with one's financial goals. Once wealth has been amassed, it is important to manage it responsibly to ensure that it is maintained at a steady rate of growth.

Pro and cons of holographic wills

With technological innovations affecting just about every aspect of our lives, there has been one tool that has been affected like none other. Arguably, that aspect is communication, the way in which we speak to each other and express ourselves. Oftentimes, a will can express our wishes and be used as a communication tool in times where one is unable to express themselves or is no longer with us. So naturally, technology has affected the ways in which one goes about preparing a will.

Prince's heirs ordered to pay over IP, no estate plan for assets

The sudden death of music legend, Prince, left fans and family reeling last year. One year later, the heirs of his inheritance are still in the midst of processing his assets and other financial aspects of his massive estate. To make matters even more dramatic, it was reported that Prince had no estate plan and did not leave a will as to what was to happen with any of his property, both physical and intellectual property. Of course, intellectual property like Prince's music has been of much debate as of late.

What benefits are associated with living wills?

When a person thinks about taking care of their loved ones, what items come to mind? Of course being there for someone emotionally is a significant part. However, there is also the financial portion of caring for loved ones that can give caretakers pause. When the roles are reversed and a caretaker is now the person who needs care, how can these wishes be carried out?

Shares of surviving spouse and laws of intestacy with no will

The reasons to arrange a will or an asset plan for after your life has come to pass has a lot of benefits. Whatever the specific reason, there are lots of reasons a person may want to look after their estate and their loved one's after they pass away. If there weren't reason enough, what can happen to one's assets and estate is not always desirable without an estate plan or will. Each state is different in their laws of intestacy when no will is in place.

Your vacation getaway may not be so special to your kids

Perhaps the locals called you a snowbird during the months you stayed in your Florida vacation home, but you didn't mind. You likely sacrificed and saved for the opportunity to purchase that vacation home. Maybe you and your spouse spent more and more time there as you grew older and retired.