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75 days ago
Steve Jobs' recent return to the public eye after a liver transplant highlights the amazing benefits that can come from organ donation. In his own words, "I now have the liver of a mid-20s person who died in a car crash and was generous enough to donate their organs. I wouldn't be here without such generosity," But organ donation is not a simple issue, and many have to wait for months or years for a suitable organ. A recent article in the Ohio Dayton Daily News reports that 54% percent of those eligible people are registered to donate organs (which means that close to half of those that could register to donate, don't). That puts Ohio ahead of most of the nation, though. Nationally, according to the non-profit group Donate Life, only 38% of drivers have registered to be organ donors, more than 100,000 people are awaiting a donated organ, and 18 people die each day waiting for available organs. The article listed the following reasons why people choose not ...
82 days ago
First, Leona Helmsley died and left her 5 billion dollar fortune to be used to help dogs. Then, the trustees of the estate sued to change that and use only a small fraction of the fortune for dogs, and the rest for human philanthropic causes. Now, three large animal rights groups are appealing that decision and asking the New York Surrogate's Court to intervene and force the trustees to use more of the money to help dogs, in accordance with Leona Helmsley's wishes. "Just a fraction of the money involved in Mrs. Helmsley's estate is a game-changer for animal welfare," says Marsha Perelman, ASPCA Board Chair. "The fate of dogs in this country could very well rest on the decision of this lawsuit--it is that critical."86 days ago
Senator Kennedy's death this week from malignant brain cancer highlights the limits of medical treatment. He received the best medical care possible, and still died in little over a year from his cancer -- the most common form of brain cancer, one with no effective treatment. At the same time, by all accounts, his last year was mostly a good one, filled with family, attention to the things that mattered most to him, and the opportunity to die where he wished to be. It's a last year that many would hope for. But not all are able to enjoy. Sometimes it takes an advocate within the medical establishment to help families find peace and comfort at the end of life. Not all doctors are trained to deliver bad news at all, let alone to do so tactfully and with full recognition of what it means. The New York Times recently ran a long article about a branch of medicine dedicated to helping more people end their lives with dignity and comfort. If you or your family find yourself dealing ...
88 days ago
At the moment, almost all of us don't have to worry about paying federal estate taxes at death. That's because the first $3.5 million of our estates can pass to our heirs tax free. Scheduled to expire in 2010, this limit is likely to be extended by Congress for at least another year and most experts think it is unlikely to be reduced significantly over the next few years. But here's a new wrinkle--until 2005 most states collected a share of the federal estate taxes collected. But when that 'pick-up' tax expired, they began imposing estate taxes of their own to make up for that lost revenue. Currently, 16 states and the District of Columbia impose their own separate estates taxes. And several states (Indiana, Iowa, Kentucky, Maryland, Nebraska, New Jersey, Pennsylvania and Tennessee) also impose an inheritance tax. This falls on those who receive the money when someone dies. And, in many instances, the limit for tax-free transfers for both state tax regimes is less than that ...
144 days ago
This week, Michael Jackson's will was filed in the probate court. It was surprising, actually, that someone with his assets died with only a will. In California, it is common for those with property (even just a home) to create a living trust so that their assets will pass to their heirs without the cost and delay of a probate proceeding. There are times, though, when probate can be an appropriate place to settle an estate, and Michael Jackson's might be the poster child for these cases -- when there are messy creditor claims to sort out. Like a bankruptcy court, a probate proceeding is place where creditors and their claims (and we won't even mention the guardianship issues being raised right now) can be sorted out by a court, in a set period of time and with finality. The AP has published a good article if you're trying to sort out whether a will or trust makes more sense for your family. Briefly, though, if you live in a state (like California) where probate is ...
