Long term care insurance is a bad idea

It is overly expensive, and rarely used.

 

Dian Fossey’s Will

If you’ve seen today’s Google Doodle, then you already know that it’s dedicated to the late gorilla researcher, Dian Fossey. Fossey dedicated her life to the study and protection of mountain gorillas in Rwanda and eventually became as respected in the study of gorillas as Goodall was in chimpanzees. She founded the Digit Fund, now renamed the Dian Fossey Gorilla Fund International, in order to prevent gorilla poaching and wrote Gorillas in the Mist, later adapted into a film with the same name.

At the time of her death in 1985, her estate was already large and growing. Her recent book was optioned, and royalties ballooned to about $4.9 million. Fossey had supposedly drafted a will in 1984 that left the majority of her estate to her charity, then called the Digit Fund, but numerous problems became immediately apparent with it. The first and foremost problem was that was unsigned.

Given Fossey’s history and her life dedicated to preserving mountain gorillas, the bequest may not seem out of character. This is compounded by the fact that funding problems were typical of her work in Africa, and the book and accompanying film were set to fund her anti-poaching efforts indefinitely. The Digit Foundation and 4 other beneficiaries certainly thought it was valid. However, it wasn’t executed with the typical solemnities to make it effective. For that matter, it wasn’t even signed. Even though it was submitted to probate, the only existent will of Fossey’s was simply a draft, and couldn’t be determined to be definitive. After some contests, the will was summarily thrown out.

There is a simple lession to be learned: if you care about what happens after you die, take estate planning seriosly

Same sex marriage – interesting case

This case says same sex marriage in one state is not recognized in another state, thus the married person can marry a new spouse of the opposite sex. Ok, that’s confusing. But fast forward a few years and assume the twice married person dies. Imagine the estate planning complexity.

It’s Year End Tax Planning Time!

Here are some good year end moves.

Three Tax-Savvy Ways to Donate Appreciated Stock

Shares Can Make a Smart Gift to Family or Charities

Great investment advice – Know thyself

When the market drops, some people panic and sell, others buy in. Knowing how you will react to a market drop will tell you how you should invest.

Unusual estate plan – Cats get the house and $250,000

These cats are set for the remainder of their furry little lives.

It can be hard to determine whether your financial advisor is fee based or commission based

http://online.wsj.com/news/articles/SB10001424052702304410204579141551494174262

Proxy advisory services like ISS have been playing both sides of the fence – and the SEC has noticed

http://blogs.wsj.com/cfo/2013/11/05/sec-to-examine-potentialconflicts-of-interest-at-proxy-advisers/?mod=WSJ_hpp_sections_cfo

Interesting Quiz on Emerging Markets

http://online.wsj.com/news/articles/SB10001424052702304520704579125792387149598?mod=WSJ_JRWealthMgnt_3_3_RIGHT