What to Look for in a Family or Divorce Mediator

There are many reasons you may be contemplating divorce, but we recommend trying mediation before taking the steps for file for divorce.  If you and your partner can agree to seek mediation with the intent of either reconciliation or avoiding a drawn-out and costly divorce, you need to seek a mediator that will keep conversations productive.

Here are some things to look for in a qualified mediator:

·       A good mediator will allow both partners to have their say and will know how to manage the balance of power in mediation sessions.

·       The best mediator for you and your partner will be able to win the respect of both parties.

·       A good mediator will recommend that attorneys for each party review any agreement before signing it.

·       Your mediator should have satisfied references from both sides of their mediated cases.

·       The mediator should have solid experience in handling marital estates, parenting, and custody issues, as appropriate to your situation.

Guardians ad Litem

Many people associate the term guardian ad litem with the care and protection of children.  Indeed, guardians ad litem are often appointed by courts in cases involving minors. Parents can petition to be appointed their child’s guardian ad litem. However, elderly individuals are often in need of someone to act and speak on their behalf if they are incapacitated in some way.  Courts usually prefer to appoint a family member—either related by blood or marriage--as the guardian for a senior but if there is no relative available without a conflict of interest in the matter, a friend or neighbor may serve in this capacity.

Frequently a guardian ad litem (GAL) is a trusted attorney experienced in dealing with elderly persons with disabilities or incapacities. An attorney specializing in elder law will be equipped to conduct an investigation to determine the needs of the ward. Such an attorney will visit the proposed ward, who must be informed of the right to contest the guardianship petition or object to the proposed guardian.

Don't Be a Financial Victim of Your Divorce

More often than not women become financial victims in the aftermath of divorce cases. This article offers a different perspective on how women should prepare and protect themselves financially. According to this article, the real issue begins with the mindset of divorce and alimony.

If women are to emerge from divorce in a financial situation that works for them in the long run, many need to begin thinking in a new way. Just thinking straight is difficult when undergoing this emotionally wrenching process. Thinking about money in a new way is especially difficult. Critical to this new mindset is the importance of looking out for yourself – not just regarding the division of marital assets, but also regarding your long-term financial security. 

— Laura Mattia

The Basics of Estate Planning

Exactly what is estate planning and why is it important? The process of analyzing and disposing of one's assets upon their death is the process of estate planning. At the law offices of Rhode Island Estate Planning Attorney Jeremy Howe, our experienced attorneys are committed to assisting clients through the arduous procedure by drafting wills and trusts for planning purposes. They analyze and solidify powers of attorney, tax implications real estate deeds and long term care options with the genuine concern for the well-being of each client. If you or a loved one is in need of an Rhode Island Estate Planning Attorney contact our Rhode Island legal office at 401-841-5700.

Understanding Property Distribution In Rhode Island

 Someone who doesn't have a lot of experience in legal battles may have certain assumptions about how the divorce process works. A common assumption about divorce is that all marital property is divided in half. This is not the case for each state.
 Because Rhode Island is an equitable state, the division of assets is not based on who has their name on each asset. The judge considers the following when distributing property:
- Duration of marriage
- The conduct of each spouse during the marriage and divorce proceedings
- The contribution of the spouse considered to be the homemaker, if applicable
- Age and health of each spouse
- Ability to obtain gainful employment
- Amount of money invested by one spouse for the other spouse's training and education

In order to file for divorce in Rhode Island you must prove residency for at least one year. You can file for no-fault or fault based grounds in Rhode Island because it is a mixed state. No-fault divorce will be granted for irreconcilable differences, or if you have been separated and living apart for at least three years. Fault based grounds are as follows:

- adultery
- impotence
- drug abuse
- extreme cruelty
- continued drunkenness
- any other lewd or cruel behavior

Going through this process can be scary if you attempt to do it alone. Make sure to do your research and contact an experienced Rhode Island divorce lawyer.

How Does Facebook Affect Divorce Rates?

Since the advent of Facebook, many people have reconnected in a way that was impossible before. When do the reconnections get in the way of a marriage? How does the use of Facebook affect your marriage? Read the article below to find out.

“If the preliminary findings in this study are sustained, it would represent an important step forward in the study of SNS and human behavior,” the researchers noted in the study’s conclusion. “It would also raise profound questions about the role of social media in daily lives. Finally, it would spur new lines of research in understanding the role of Facebook in divorce and marital satisfaction, prompting a host of policy-oriented research endeavors by social scientist.”

— Read More At Sacramento CBS local

What You Need To Ask Before Fighting Over Your Children?

The number one thing that people argue the most over is the custody of children during a divorce process. If the arguing becomes too public and hostile, your children will only damage them long-term. How can you avoid inflicting too much conflict on your children? Here are ten questions to ask yourself before continuing a child custody battle.

Do you want your children to endure months of anxiety and uncertainty as to where they will be living and whether they will have the relationship they want with each of their parents and their siblings?

— Read More At Huffington Post

Update Your Will Before Your Next Big Trip

After a long,cold winter the first thing on everyone's mind is where they are going for vacation. This time of year is also the best time to tune-up your current estate plan. Reviewing your estate plan prior to a big trip is a common practice, and the article below helps you determine what to focus on.

In general, we suggest that you review your estate planning documents every three to five years to ensure that everything is according to your wishes. However, preparing for a big trip is the perfect time to pull out your existing estate planning documents and make sure that your executors, trustees and guardians are all still who you wish for them to be. In addition, make sure that the provisions for your family still comply with your wishes. If it has been many years since you completed your documents, there have likely been changes in both your life and the tax law since that time. Your Dinsmore attorney can work with you to make any necessary changes so that all of your documents are up to date before you set off on your next excursion.

— Kristin M.Lenhart

How Does A Prenup Factor Into Estate Planning?

How does a prenup play into your estate plan? If there is a major age difference between spouses there may be a conflict if the elder spouse passes away and has children. Read this informative article for advice on prenups and estate planning.

For example, suppose a moderately wealthy woman with four adult children marries a somewhat younger man with few assets. The woman dies and upon her death her property goes to her new husband. A couple of years later the husband dies leaving what was the woman’s property to his own kids.

— Read More At The Spectrum

What Can You Learn From Lou Reed's Estate?

Many people know Lou Reed as the man who crooned "hey babe,take a walk on the wild side", but what you may not know is that applied the song lyrics to real life. For a man who was worth an estimated $30 million, he didn't act conservatively with his estate plan. Instead of a revocable living trust he relied on a will, and now his relatives can't avoid the public process of probate court.Read more about his situation below...

It’s much easier to file objections or challenges to a will in probate court, than to a trust which is administered privately, outside of probate court. Further, it’s much simpler for anyone to leave detailed instructions, with conditions, limitations, and suggestions, in a comprehensive trust document, rather than a will — even one that is 34 pages long. In fact, trusts can even help you when you are alive, but before you die, by addressing who and how your assets are managed if you are no longer able to do so. Wills can’t help with that.

— Read More At Huffington Post

What To Expect During The Divorce Process

So you have finally decided to start the divorce process, what happens now? Listen to your divorce lawyer about any shared financial responsibilities, and tread carefully in your personal life during this process. What else can you expect to happen when you file for divorce? Read below to find out more.

Expect to enter a bizarre time warp. It's rare that partners reach a mutual decision to divorce. Typically, one partner makes this decision and the second spouse gets dragged along. (Let's call them the "dumper" and the "dumpee.") In any event, in most states, when one spouse says it's over, it is. There may be hoops to jump through but if someone wants out of a marriage (and tells the court that the marriage is irretrievably broken) the court will eventually dissolve the marriage. Of course, before a couple can be divorced parenting and financial decisions have to be made and paperwork must be prepared and filed with the court. To the dumper, this whole thing may feel like it's happening in slow motion. And, for the dumpee, it moves at the speed of light.

— Read More At Huffington Post

Divorce Can Affect Your Financial Future

After spending years together, sharing traveling plans and family vacations, a divorce can be a deeply heart-breaking experience. The person that you thought you would have forever with is now separate from you and your future plans. It can be extremely difficult to even think straight during this time, but it is imperative to consider how this divorce will affect your estate planning.Read more about how divorce can complicate your financial future below...

One of the most overlooked aspects after a divorce is estate planning. People often forget to update the beneficiaries of their retirement accounts and life insurance policies. If your beneficiary forms are not changed, your ex-spouse may inherit a large portion of your assets in the event of your passing.

— Joel Harris

What Happens To Your House While You Are Legally Separated?

What do you do when you own a house with your spouse, but you aren't yet divorced? Depending on the state you live in, you may have to stay separated for awhile, and you are stuck paying a mortgage on a home that you do not inhabit. This may seem frustrating, especially when you are not on the best of terms. The following article explores the difficulties and options of this particular problem.

If you’re buying a home for yourself, your spouse would have to sign a quit claim deed releasing their interest in the property you are buying since you are still legally joined with that person. The key is that the spouse must consent to releasing their interest in the transaction.

— Read More At Fox Business News

Pacer's Paul George Wants Sole Custody

What happens when one parent makes substantially more than the other, who gets custody? Should the person who has the most financial resources automatically become the custodial parent? This is often the battle with public figures,and the Pacer's Paul George is fighting for sole custody of his daughter. Read more about this below...

George's petition would allow for limited parental time sharing with the child for Rajic. George is also seeking to move the trial to Florida, where George met Rajic. It has been delayed until the judge determines jurisdiction.

— Read More At Indy Star

Divorce For The Royal Family

Divorce is complicated enough without having to worry about your spouse's family and the implications your split will have on them, but this is what royals must deal with. A divorce is far from simple, as there have been laws in place for years that protect the royals in such situations. This is the case with Camilla Parker Bowles, who has decided to divorce Prince Charles after nine years of marriage. Read more about this complex situation below...

It is understood that all is not well between Queen Elizabeth and the Duchess of Cornwall, with the former taking a dislike for the latter's alleged drunkenness. Several reports have also claimed that the Queen might pass on the throne to Prince Charles' eldest son Prince William, when her reign ends.

— Read More At Ibtimes.com

What You Need To Get Through A Divorce While Pregnant

Divorce can be mentally and physically draining, especially if you are pregnant during the process. What extra steps do you need to take after deciding to divorce, while expecting? The article below answers this question...

"As a new mother, the first few months I could barely keep my eyes open (by the way, sleep deprivation sucks)! When my daughter started sleeping through the night, I went through my share of iconic breakup flicks such as 'Living Out Loud,' 'Bridget Jones’ Diary' and 'When Harry Met Sally.' I devoured microwave popcorn and mint chocolate chip ice cream. I blew through boxes of Kleenex. It may be cliché, but sometimes it simply works. It’s important to let sadness move through you, instead of holding onto it."

— See More At Huffington Post

What You Can Learn From Sherri Sheperd's Bizarre Custody Situation

There are so many alternatives for people who can not conceive naturally that it can be overwhelming trying to figure out all the possible problems that may occur. One thing that couples often are not prepared for is the custody arrangement if you and your partner divorce. This is one situation where we can learn from a celebrity, and this time it is Sherri Sheperd, read about the bizarre custody battle below...

Apparently, the couple had attempted to become pregnant through in-vitro fertilization, but the procedure didn’t work for the 47-year-old Shepherd, so they turned to a different fertility option: a surrogate mother. A baby was conceived using Sally’s sperm but not, apparently, Shepherd’s egg.

— Read More At The Blaze

Why You Should Start Estate Planning Now For Your Children

Those with children understand the importance of providing for them in the future. It pays to plan now for anything that can get in the way of your child's safety and security. This may seem difficult to envision when you are a young parent, but is necessary for your child to think of these things today. Below is an excellent advice piece that guides those who are unprepared for their future.

If the fact you won't be there to protect your children concerns you, this is what you need to do: First, execute a will and name a guardian and a successor or two. Put a lot of thought into it and talk to the person before naming them in the will. Remember, children aren't a stamp collection or a bank account. Not everyone is parent material. Raising children requires a lot of time, money and patience, and not everyone is up to the task. That doesn't mean they are bad people. It's just that their strengths aren't in the child-rearing area.

— Christopher W.Yugo

Three Documents You Need For Estate Planning

Many people put off estate planning because they aren't prepared to have every important document ready when needed, but you would be better served to focus on three main documents. As long as you have documents that outline the intended beneficiaries and your personal information relating to your financial status, you can start on the planning. The article below highlights the three groups of documents that you need for estate planning.

Your powers of attorney may look different, and go by different names, depending on your province. Still, these documents should provide another person with the ability to make decisions over your financial affairs and personal care in the event you’re unable to do so. These documents are effective while you’re still alive but can’t look after yourself (once you’ve died, your will becomes the key document governing your affairs). Again, look for an experienced lawyer to assist in preparing these documents.

— Read More At The Globe And Mail

Why Try Mediation?

  If you are considering a Rhode Island divorce, try Rhode Island Divorce mediation before going forward with the process. Rhode Island Divorce Mediation is a non-adversarial method of obtaining a divorce, and it is favored by those who wish to avoid court. For those who feel that they cannot be in the same room as their spouse, they need not worry. A Rhode Island Divorce mediator will ensure that the conversation stays productive and that nothing detrimental is said.
 Be sure that your Rhode Island Divorce mediator has a firm grasp on the state’s divorce laws before proceeding. It also helps when your Rhode Island Divorce mediator has a law degree or mental health degree, but that does not mean that mediation is an attempt to save your marriage. Some people have the misconception that Rhode Island Divorce mediators want to encourage a couple to reconcile, but this is not the case. Rhode Island Divorce mediation helps parents create a stable parenting plan without putting the child in the middle.
 There are circumstances that do not permit Rhode Island Divorce mediation, and this is something your Rhode Island divorce lawyer will determine. If you have experience any form of abuse during the marriage, or you feel that your spouse is hiding assets, mediation may not be for you. Let your Rhode Island divorce lawyer know any doubt or fear you are experiencing beforehand, or the process will not work to your best benefit. A Rhode Island Divorce mediator is required to remain neutral, and is not allowed to take sides. This alternative is not meant for anyone seeking blame in a divorce, nor is it meant for anyone attempting to get one over on the other spouse. Successful Rhode Island Divorce mediation should result in a win/win for all parties, and will eventually cost you less time and money.

Biggest Celebrity Estate Planning Mistakes

Celebrities are always in the news for making some kind of mistake, whether it be with finances or personal relationships. Instead of being fascinated with their public lives, we should take the chance to learn from their messes. Here is an incredibly informative article about how one can learn from estate planning mistakes of celebrities.

Diana, the late Princess of Wales, left a letter of wishes directing certain effects be left to her godchildren. The letter was overturned by court because it was unenforceable.

— Read More At The Advisor

Three Biggest Mistakes Wealthy People Make During A Divorce

It is impossible not to worry about money during a divorce, especially when you have a lot financially at stake. There seems to be a common misconception that wealthy people are always prepared for major life events like divorce, but everyone makes mistakes, and this article highlights the three biggest. Read more about the mistakes wealthy people make during a divorce.

Considering the intense economic implications of divorce, it’s unfortunate that many of the wealthy are not adequately dealing with these issues. This situation is slowly changing as an increasing percentage of the wealthy getting divorced use the services of divorce financial analysts. “While financial divorce specialists complement and can never replace divorce lawyers, their role is to – from the start of the process to after the divorce is finalized – ensure the financial well-being of their clients,” explains Smith. “For example, they’re often extremely effective in providing the supporting evidence for settlements.”

— Russ Alan Prince

The Pettier Family Wins Custody Battle

A lot of media focus has been centered around a young girl, Justina Pelletier, and her parent's custody battle with the state of Massachusetts. The state claimed child abuse due to the medical care she received at the Children's Hospital, for their inability to treat her mitochondrial disease. Her parent's were outraged with the Children's Hospital, and demanded her release, only to have the hospital contact the Massachusetts child protection agency. Read more about this story below...

This is not the first time a controversial diagnosis of a new or less understood disease has resulted in a custody battle involving accusation of medical child abuse. According to the Boston Globe, during the same 2013 period that Pelletier was admitted to Children’s Hospital, a 5-year-old Massachusetts girl, who had also been previously treated for mitochondrial disorder, was also admitted to that facility. Just as in Pelletier’s case, the child’s mother lost custody of her daughter – a pattern that has been seen in numerous similar cases.

— Read More At guardianlv.com

Sailor May Lose Custody Due To Overseas Station

Custody battles are difficult for everyone, but especially military service members who are stationed far away during the trial. This is the case for one sailor, who may lose custody of his six-year-old daughter, because he is stationed somewhere in the Pacific. While away,he may miss the court date that could compromise his full custody agreement. See more about this below...

"Mr. Hindes is honorably serving our country in the Unites States Navy and cannot be present and is therefore unavailable to defend against this matter," a letter shared in an online petition by Hindes' attorney reads. "We have filed the appropriate motions and have raised the Service Members Relief Act and we are confident that this Honorable Court will grant the relief requested given that it is the law of this great land."

— Read More At NY Daily News

Casey Kasem's Daughter To File Elder Abuse Claim

A beloved radio personality passed on June 15th, and while some people are trying their best to memorialize Casey Kasem, others are trying to learn a lesson based on his ordeal. Kasem's eldest daughter is filing a formal elder abuse claim against her stepmother. A private investigator found that Kasem's wife had been cheating on him for at least six months, and that she lied about obtaining a divorce for a long time. Read more about this predicament below...

“Witnesses will testify that Mrs. Kasem has been lying to Mr. Kasem for at least two years, telling him that they are divorced,” the letter states. “What possible motive could Mrs. Kasem have for such cruelty? Perhaps the younger gentleman that has been staying at the Malibu house and driving Mr. Kasem's car could answer that question for us."

— Read More At NY Daily News

Beware Of Cheap Wills

Have you seen advertisements or billboards offering wills for $100? It can be tempting to have your will created for such a small amount of money, especially when making a will is not your top priority. It probably won’t occur to you the disaster that will result after your death, how your cheaply constructed will can cause mayhem within your family. If you do not have an experienced estate lawyer oversee the drafting of your will, the simplest of mistakes can cost your children their financial future. One case in England brought this possibility to light when a man’s adoptive brothers fought over who should inherit their parent’s fortune. Mr. and Mrs. Rawlings had made mirror wills in 1999, but unknowingly signed each other’s will. The wills could not be admitted to probate due to this small technicality, and the entire estate was divided equally between the brothers. The fall-out of cheaply prepared wills is more than financial in some cases. If you intend for certain family members to receive items with sentimental value, and your will does not clearly state that, fights can occur between family members who wanted said item. Family feuds happen even when an estate is planned thoroughly and professionally, so it goes without saying that the same will happen when a will is prepared haphazardly. Another problem with poor estate planning is the issue of updating beneficiary designations. It is a common mistake to list beneficiaries that pertain to you at that moment of time, but those people do not stay constants in your life. When your will is reviewed by counsel, it will state the beneficiary information that you entered at the time, and it may not match your wishes at the time of death.

Things All Divorced Parents Need To Hear

 Even if you still feel resentment toward your ex, you can not allow your children to witness this anger. Successful co-parenting requires an attempt at an amicable separation, so it is imperative to try everything in your arsenal to accomplish this. The following article provides sound advice for those attempting a peaceful relationship with their ex for the sake of the children.

"Keep as many rules consistent between the two households as possible. This way, the kids won't be able to play both sides. What's not allowed at mom's house isn't allowed at dad's, either."

— Read More At Huffington Post

Rich, Young And Childless Face Estate Planning Issues

For those who are wealthy and childless, the question of who inherits the wealth after death can be daunting. If you choose to give all of your assets to one friend or relative, what happens if that person passes away first? Should you stick with charities? The following article gives great advice for those in this financial position.

This dilemma faces not just the 17 million unmarried Americans over 65 who are retired or putting their ducks in a row for retirement. Charitable foundations and financial advisers report that an increasing number of young people are facing these decisions before they are married or have children. That is especially true for tech entrepreneurs who, for example, come into a large amount of money from stock options or the sale of a start-up business.

— Reuters.com

Divorce Parties Are Gaining In Popularity

Event planners and divorce attorneys alike are noting the recent trend in "divorce parties" or "freedom fests", a new way to celebrate your new status. Some people split amicably, and want to remain friends post-divorce, and this is the perfect opportunity to turn a sad event into a happy one. Read more about this trend below...

"We wanted to do something that expressed the fact that we were doing the divorce not so much as an end of our relationship but as us moving into things like co-parenting and co-business management," said Wolf, whose former wife works for him in his special effects and stunt business serving the film industry.

— Read More At Poughkeepsie Journal

Halle Berry To Pay $16,000 In Child Support

Child support is a legal necessity for those divorcing with children, especially when one parent has more income to contribute than the other. Celebrities are often in this situation, and they often have to shell out thousands every month. This is the case for Halle Berry, who was just ordered to pay $16,000 a month in child support. More below...

Berry's monthly bill will remain in effect until Nahla turns 19 or graduates high school, whichever occurs first, according to court documents obtained by CNN. The settlement came on May 30, at the end of lengthy child support legal battle.

— Read More At CNN.com

Create A Divorce Bucket List!

If you have recently gone through a divorce, you may feel at a loss as what to do next in your life. Should you tackle all of those things you never did for whatever reason? Making a list of these things makes it easier to accomplish, and this article helps you with suggestions. Read more below...

-Have drinks with my divorced/separated friends. Mandatory, as much as possible. -Take a trip alone. Not a single-mom vacation with the kids -- ALONE, preferably overseas, in a foreign country, or at a beach. -Buy flowers for myself. Because they make me happy and I know exactly the kind I want.

— Read More At Huffington Post

Is Divorce Really Bad For Children?

Most parents take their children's feelings into consideration before making any major decisions like divorce. How will the children adapt to a new setting or routine? Holding off on divorce proceedings for the sake of your children may not be the best idea, even if you are experiencing guilt. The following article discusses children and their ability to recover quickly.

Divorce affects most children in the short run, but research suggests that kids recover rapidly after the initial blow. In a 2002 study psychologist E. Mavis Hetherington of the University of Virginia and her then graduate student Anne Mitchell Elmore found that many children experience short-term negative effects from divorce, especially anxiety, anger, shock and disbelief. These reactions typically diminish or disappear by the end of the second year. Only a minority of kids suffer longer.

— Read More At Scientific American

Russian Billionaire Ordered To Pay Four Billion Dollars

A Russian billionaire has been ordered by a Swedish court to pay his ex-wife over four billion dollars in a divorce settlement. This could be the most expensive divorce settlement in history. Read more below...

The judgment also granted his ex-wife property worth 130.5 million francs ($146 million) in property in Gstaad, Switzerland, where the couple owned two swanky chalets. It awarded his ex-wife two other pieces of real estate in the ultra-wealthy area of Geneva known as Cologny, where the couple once lived together, but listed no value for either address. And it confirmed her custody of their 13-year-old daughter, Anna. The couple also has an adult daughter, Ekaterina.

— Read More AtCBSnews.com

What Casey Kasem Can Teach You About Estate Planning

Every time that you read about a respected public figure suffering financially, it is often the common reaction to question the legitimacy of the situation. How did they spend ALL that money? We often forget that there are so many elements involved, like multiple marriages or poor financial planning. Read the following article for insight on what we can learn from Casey Kasem's current situation.

It's always about money, even if it isn't. Estate planning, especially in a second marriage, can require a lot of thought and effort. Does everything go to the surviving spouse, does it get split with the kids, does it go to the wife first, and what's left goes to the kids? If it goes to the spouse directly, the kids generally see that as you just stole from them. If it goes to the spouse first, then what is left over goes to them, then every dollar she spends is seen as taking money directly out of out their pockets, slowly, for the rest of her life. Either way, there is a lot of tension that does not get better over time. Even if the kids do not care about money, they care that the spouse (who is not their mom) is getting it.

— Read More At CBS.com

Estate Planning Objectives For Married Couples

Getting married can be financially beneficial for a number of reasons, but it also provides more responsibility. This responsibility comes from combining extended families, and providing for those family members in the case of a sudden death. The following article highlights estate planning objectives for married couples...

Many couples prefer estate plans that maintain their privacy when given the choice. Nevertheless, this tends to not be a dominant issue with most couples. Recently, however, there has been a significant increase in elderly individuals being the targets of fraudulent schemes and borderline fraudulent solicitations. As a result, to the extent than an estate plan can protect a married couple’s privacy especially as they age, this may help protect the surviving spouse from being targeted by such schemes.

— Read More At Forbes.com

Tips For Planning Inheritance For Your Children

Are you afraid that your children will blow their inheritance on nonessential items? Do you children have a track record of being financially irresponsible? While it is never a pleasant thought to consider how your children will live after your death, it is an imperative step in planning for your child's future. Read below for tips to take into consideration when planning an inheritance for your children...

4. Get your kids involved in a personal foundation. If you have children still living with you, creating a personal foundation can be a wonderful opportunity to support causes you believe in, get a nice tax deduction, and more importantly to our point, teach kids about money. One of my clients sold his business and overnight was worth more than $25 million. He and his wife had three young kids and they were worried that the dad’s strong work ethic would be lost on the kids now that they could have anything they wanted. We created a personal foundation, and because it was required to disburse 5% of the foundation’s balance each year, we gave each family member the responsibility of researching a cause and donating 1%. This got each of the kids excited about their own cause and seeing how their money could have an impact. It was a great learning experience for the whole family.

— Read More At Forbes.com

Why You Need A Will

 What happens when someone dies without a will? When someone dies without a will they are said to have died "intestate". If this is the situation occurs, the next of kin is contacted. This could mean that money or property is given to a person that the deceased had not intended, and it can cause a great deal of conflict.

 If there are multiple spouses or children from different marriages, a legal dispute will often occur without a will. Usually the surviving spouse will be an executor, even though there is technically no will to execute. When no surviving spouses or children are found, the next living relative is contacted. Providing there are no surviving relatives, the remaining assets and property will be given to the state.

 Every state has guidelines about who inherits anything when there is no will. If there is a record of negative behavior toward the deceased, the state will block that person from inheriting anything. A surviving spouse can sometimes qualify as someone who just filed for divorce, depending on the judge. Stepchildren are not always protected in scenarios where a will is absent, because the courts may not consider them surviving children.

Creating a will is actually a simple process when assisted by an experienced estate lawyer. Making your wishes clear in the beginning helps avoid major problems in the future.