Tag Archives: living wills

Photo: Rayon Richards

Why You Need a Living Will

This often-ignored estate planning component offers greater control over your future--and makes a difficult time easier on your loved ones

Studies suggest African Americans are largely unaware of living wills and their value. According to…

By Bridget McCrea

Posted: May 2, 2011 Tags: , , , ,

WATCH: How Estate Planning Protects Your Family

The key components you need to put in place

As tough as it is to hear, the reality is that none of us are…

By Elayne Fluker

Posted: January 7, 2011 Tags: , , , , , ,
It’s been one year since the world was rocked by news that the King of Pop, Michael Jackson, had passed away. In that time, much of the reporting about his finances focused on what the pop icon did wrong. For instance, only $70 million of his reported $500 million indebtedness has been paid off, AP reports. However, there are many financial moves Michael Jackson got right. The documentary, Michael Jackson's This is It based on his final concert rehearsal footage, has sold more than 5 million DVDs worldwide and Sony Music, Jackson’s record company grossed $252 million. In fact, his estate has earned more than $250 million alone in the year since he died thanks to attorney John Branca and music executive John McClain, who are building several new streams of income, including sales of a video game and through many licensing agreements. Although Jackson's executors manage millions of dollars, his estate planning requirements aren’t too different from what the average Joe or Jane should be doing. You may not have Jackson’s millions, but estate planning attorney Wynne Whitman, a partner with Schenck, Price, Smith & King L.L.P., and the author of Smart Women Protect their Assets (FT Press; $13.99), recommends four things you can do that Jackson did to ensure that his children and his legacy would be financially secure. (Source: MichaelJackson.com/us).

4 Steps the King of Pop Took to Secure His Financial Legacy

Prior to his death, Michael Jackson made sure his money and his children would be in the right hands

Michael Jackson made a lot of money during his lifetime, but he also accumulated a…

By Marcia Wade Talbert

Posted: June 25, 2010 Tags: , , , , , , , , , ,