All estate planning attorneys should be talking with their clients about charitable giving during an initial consultation. Ignoring the possibility of donating to charity can result in a lost opportunity both to you as the client and to the community.
Here are three questions your attorney should be asking you about charitable giving, either on your initial client worksheet or during your initial consultation.
There is a common misconception that estate plans are only for the ultra-rich – the top 1 percent, 10%, 20%, or some other arbitrary determination of “enough” money. In reality, nothing could be further from the truth. People at all income and wealth levels can benefit from a comprehensive estate plan. Sadly, many have not sat down to put their legal house in order.
The best time to share your family history with loved ones is right now, before the memories are forgotten. The coming holiday season is a great opportunity to reminisce because you’ll probably have your loved ones nearby.
Maya Angelou’s heirs are in a bitter fight over her legacy, according to this November 7, 2017, article from www.courthousenews.com. Maya Angelou’s grandson allegedly is trying to gain control of the late poet’s intellectual property from his father and has bankrupted a company set up to manage her legacy. Maya Angelou’s son has accused her grandson, his son, of trying to cut him out of the proceeds from Caged Bird Legacy, the company that manages the intellectual property of the author and poet, including her copyrights. Angelou, the beloved author of I Know Why the Caged Bird Sings, was awarded the 2010 Presidential Medal of Freedom. After her death in 2014, 25% of her company’s proceeds were gifted to her grandson – but now, his father claims, Angelou’s grandson is raiding the coffers to fund an “extravagant” lifestyle and has allegedly borrowed hundreds of thousands from the company. Angelou’s grandson has not responded publicly to the lawsuit.
