It has come to my attention that Olive Branch, Mississippi attorney Barry Blackburn has recently passed away.
Per Jason Bailey of Jones Walker:
There will be a Celebration of Barry’s life on Monday, March 24, 2014, from 5:00 – 7:00 p.m. It will be held at Getwell Road United Methodist Church 7875 Getwell Road, Southaven, MS 38672.
His body will be interred in Nashville in a private service at a later date.
Click here to read his obituary.
My condolences to his family.
I will refer you back to my first post in this series here. Remember that only property in your sole name with no joint owner and no beneficiary designation passes through Probate and is controlled by your Will (if you have one).
I am suddenly reminded of a Frank Sinatra song and a certain character portrayed by Ed O’Neill. Love and Marriage… The Bundy’s provide a useful example.
This entry will discuss what happens to that property if you (Al Bundy) do not have a Will. Al, ever the do-it-yourselfer, did not want to pay an attorney to draft a Will. I mean, whats the worst that can happen… Besides, he’ll be dead!
Although the law is different in each state, you will note a common theme among each of them for married parents-the surviving spouse has to share with the kids.
Another important theme to note is that where the property goes depends entirely on who survives you and their relationship to you.
Although I do not intend to cover this exhaustively, I will cover the most common scenarios. In some cases, I have simplified the law, but only to make it more digestible.
Continue reading What happens if I don’t have a Will?
First, let me say that the Death Tax no longer affects the vast majority of Americans. You probably do not have to worry about this. I wish you did, because that would mean you were doing pretty well in life. First world problems!
Continue reading The Death Tax: A primer on Federal and State Estate and Gift Taxes.