Author name: Locksley A. Rhoden, P.L.

Trial Of Pat Bowlen’s Daughters Vs. Broncos Trust Has Been Vacated

When Pat Bowlen passed away in June of 2019, the Denver Broncos football franchise was owned by The Pat Bowlen Trust.  So if Mr. Bowlen conveyed ownership shares in the team to his Trust (which avoids probate) for the benefit of his children, why has Broncos team ownership been in limbo since Bowlen’s death in …

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Chicago Bears Ownership Having Internal Strife About Selling Team

The daughter of George “Papa Bear” Halas, Virginia McCaskey, has controlled the Chicago Bears football franchise since 1983 when her father died leaving her 80% controlling interest in the team.  When Papa Bear founded the franchise in 1920, he did his best to devise a plan to keep ownership of the team under the family’s …

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Beneficiary Rights During Florida Trust and Estate Administration

Mourning the death of a loved one is an emotionally challenging time for the surviving family members of the deceased. While the family is grieving, the finances and estate affairs of the deceased often gets neglected. Soon after family members will ask whether the decedent had a Last Will, who is the named Personal Representative …

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Former NFL Star Warren Sapp Wins Tax Court Conservation Easement Fight

The last few years I’ve noticed several financial advisors I work with strongly urging our mutual wealthy clients to make conservation easement investments. Warren Sapp‘s recent 11/19/20 U.S. Tax Court win illustrates why. Short answer: a properly structured investment in a conservation easement will reduce one’s U.S. taxable estate and generate significant operating losses that can …

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Planned Giving For Charitable Impact: 6 Tips For Leaving A Lasting Legacy Of Philanthropy

Sometimes, it really is better to give than receive. This is especially true for those hoping to fulfill philanthropic ambitions by donating portions of their wealth to an IRS tax-exempt charitable organization. This type of charitable impact planning allows donors to benefit their favorite charity while limiting their U.S. income and estate tax exposure, and …

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Britney Spears Is Headed To Court To Address Her Conservatorship. Here’s What To Know

After her 2nd psychiatric hold back in 2008, a California court awarded petitioner, Jamie Spears, as emergency temporary conservator responsible to make health care and financial decisions for his daughter Britney. More than 12 years later after working on rehabilitating her mental health, Britney’s right to make legal decisions about her life remains awkwardly under the …

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5 Ways The Rich Can Avoid U.S. Estate Taxes

With renewed focus on how President Elect Biden will implement his tax policy after the U.S. presidency changes hands, many experts expect Biden to shift to a more progressive tax policy including tax rate increases on wealthy Americans and reduction of the U.S. federal estate tax exemption threshold, i.e. the max amount that can be …

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Kobe Bryant Left One Of His Daughters Out Of His Trust. Can It Be Amended?

Vanessa Bryant has been dealing with a number of legal issues since the passing of her husband and daughter.  This past April, she co-petitioned the CA probate court to amend her husband Kobe’s irrevocable trust to include thier daughter Capri who was not added to trust as a named beneficiary before Kobe’s death. So you may be …

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