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Tag Archives: Estate and Trust News
MICHAEL JACKSON ESTATE SIGNS FOR $250 MILLION WITH SONY RECORDS
The $250 million dollar advances and other payments for a March 2010 deal between the Michael Jackson Estate and Sony Records is just the icing on a cake that will delve through perpetual layers of sky-high royalty rates, licensing arrangements … Continue reading
No Cost of Living Adjustment for Social Security Checks
Millions of older people face shrinking Social Security checks next year, the first time in a generation that payments would not rise. The trustees who oversee Social Security are projecting there won’t be a cost of living adjustment (COLA) for … Continue reading
Reflections On Estate Tax Legislation
The Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) is a Republican tax cut program that was approved in the first year of George Bush’s presidency. It was enacted to help stimulate the economy and restore financial confidence … Continue reading
U.S. House Will Receive New Estate Tax Bill
Courtesy of Reuters.com By Kevin Drawbaugh and Andrew Hay October 23, 2009 A U.S. estate tax bill is in the works and may arrive soon on the floor of the United States’ House of Representatives, lower house Democratic Leader Steny Hoyer said … Continue reading
Recession pulls U.S. senior citizens back to work
Courtesy of Reuters.com By Lucia Mutikani and Dan Grebler The worst U.S. economic recession in 70 years is forcing senior citizens out of retirement, leaving them fighting for jobs in a weak labor market or risk homelessness, according to a … Continue reading
NYC Social Monarch’s Son Charged with Grand Larceny
“The son of Brooke Astor, the philanthropist and long-reigning matriarch of New York society, was convicted in Manhattan on Thursday on charges that he defrauded his mother and stole tens of millions of dollars from her as she suffered from Alzheimer’s disease in the twilight of her life.” (John Eligon, NYT)
Brooke Astor’s son, Anthony Marshal was awarded Power of Attorney over some his mother’s finances, while Mrs. Astor had been suffering from Alzheimer’s disease. “But the kinds of financial requests and investments he made later mushroomed into a scandal involving accusations of elder abuse”. (John Marshall Mantel, NYT) In 2006, Marshall’s own son reported to the court that his father was enriching himself at the expense of his grandmother, not filling prescriptions, emptying her estate of valuable art work, and shortening her staff. Marshall’s son formally requested that the court take away his father’s guardianship rights and in 2007 Mrs. Astor died at the age of 105. Continue reading
CPI-U, CPI-W, CPI-E: WHAT IS ALL MEANS
By Shelley Ocaña, Private Fiduciary The Consumer Price Index (CPI) measures the average change over time in the prices paid by urban consumers for a representative market basket of consumer goods and services. The Bureau of Labor Statistics publishes the … Continue reading →