Advertisement
YOU ARE HERE: LAT HomeCollectionsInheritance
IN THE NEWS

Inheritance

FEATURED ARTICLES
BUSINESS
November 14, 2012 | By Tiffany Hsu
Retirement planning, elder care and wills are touchy subjects for most people, but they're especially rife with anxiety, miscommunication and disagreements for parents and their adult children, according to a new report. The majority of both groups -- aging parents and their children -- say they feel more comfortable talking about future financial decisions with third-party financial professionals than with each other, according to a survey by Fidelity Investments. On the topic of whether the children will care for the parents if they fall ill, 97% of nearly 1,000 people surveyed had opinions that conflicted with those of the other generation.
ARTICLES BY DATE
BUSINESS
February 9, 2014 | Liz Weston, Money Talk
Dear Liz: My wife of 34 years died five years ago. Her father is 94. He has accumulated a large amount of wealth over the last 40 years. I always made a point of staying out of financial discussions between my father-in-law and his daughters. He told us for years that upon his death all his wealth is to be divided between us (my wife and me) and her sister. Recently, a gold digger reappeared on the scene. My father-in-law and his late wife took her in at a young age when her parents died.
Advertisement
NEWS
August 12, 2012 | By Michael Finnegan
With business investments and a family inheritance, Rep. Paul D. Ryan of Wisconsin and his wife have accumulated millions of dollars in assets and generated income last year well above his congressional salary, according to his most recent financial disclosure statement. Mitt Romney's newly announced running mate reported assets in the range of $2 million to $7.7 million. The largest was the interest that his wife, Janna, holds in a trust resulting from the 2010 death of her mother, Prudence Little.
CALIFORNIA | LOCAL
December 19, 2013 | By Victoria Kim and Corina Knoll
A 40-inch by 40-inch canvas bearing the silk-screened image of actress Farrah Fawcett, an Andy Warhol creation that became the subject of a 2 1/2-year legal battle, belongs to the star's longtime companion Ryan O'Neal, a Los Angeles jury decided Thursday. The panel sided with O'Neal over the University of Texas at Austin, the actress' alma mater, which said the painting was bequeathed to the school along with her art collection after Fawcett's death in 2009. The trial over the portrait lasted three weeks and became, in part, a scrutiny of O'Neal and Fawcett's relationship.
ENTERTAINMENT
June 6, 2013 | By Jenny Hendrix
Academy Award winner -- and "Girl on Fire" -- Jennifer Lawrence will star in and produce "The Rules of Inheritance," Deadline Hollywood confirms.  The film is an adaptation of Claire Bidwell's Smith 2012 memoir of the same title, about her parents' diagnosis of cancer when she was just 14. The memoir recounts Smith's coming-of-age and struggle with grief as she loses both parents within seven years and throws herself into romance, travel...
BUSINESS
May 16, 2010 | By Ann Marsh
In 2006, Lisa and Clovis Blackwell began receiving an inheritance that amounted to about $160,000 from the estate of Clovis' father. The couple used nearly half the money to make a down payment on a condominium in Pasadena, and much of the rest went toward living expenses, which increased after they had a baby. The money went fast. Nearly all of it is gone, and the condo it allowed them to buy is underwater. But the Blackwells are getting a second chance at handling inheritance money.
ENTERTAINMENT
February 17, 2013 | By Sheri Linden
What's in a name? Ask Bettina Goering, Katrin Himmler and Rainer Hoess. For decades, Germany has grappled with its collective guilt over the Third Reich, but for the progeny of the regime's chief architects, the matter hits far closer to home. Chanoch Ze'evi, the Israeli director of the thoughtful and affecting documentary "Hitler's Children," conducted interviews with five descendants of key Nazi figures. Though Ze'evi's creative choices don't always serve the material - he unwisely attempts to pump up the emotional volume with an intrusive music score - his compassion for his subjects is clear, and their straightforward testimony is provocative.
BUSINESS
November 26, 1995
Re: "Optimism on Boomers' Inheritance Misplaced" (Nov. 13): I suggest you look into the fact that not only is our inheritance an illusion, but our savings for retirement and for our children's education is at risk. Let me use myself as an illustration: Though I barely make ends meet, I have for the past 20 years faithfully tucked away savings for retirement. Now, however, I may soon become responsible for custodial care of my 81-year-old father. Even as it stands now, Medicare does not cover custodial care.
BUSINESS
April 20, 2011 | By Walter Hamilton, Los Angeles Times
Children of rich baby boomers probably shouldn't count on a lush inheritance. Many parents nearing retirement would rather spend their money themselves, a study indicates. Only 49% of wealthy parents say it's important to leave money to their children when they die, according to a survey by U.S. Trust, a unit of Bank of America Corp. Instead, many of those parents plan to use their savings for travel and to focus on personal relationships. One possible reason: Barely one-third of those surveyed expressed confidence that their children would be able to "handle" an inheritance.
BUSINESS
September 5, 2011 | By Walter Hamilton, Los Angeles Times
Carol Willison has made lots of financial sacrifices for her two children over the years, including paying most of her older daughter's medical school tuition. But Willison's generosity has reached its limits. Not only doesn't the 60-year-old Seattle woman plan to leave her daughters an inheritance when she dies, she's trying to spend every last dime on herself before she goes. "My goal is when they carry me away in that box that my bank account is going to say zero," Willison said.
BUSINESS
December 15, 2013 | Liz Weston, Money Talk
Dear Liz: Both of our sons, ages 63 and 59, are currently unemployed. We are 93 and self-supporting with Social Security and my retirement benefits. We live in our own home and are able to handle all our expenses, even though my wife requires a companion for 12 hours each day. I believe we should financially aid both sons, to the limit of our ability, but my wife disagrees. They are the two main beneficiaries of our estate. Each one is scheduled to receive about $40,000 upon our deaths.
BUSINESS
July 19, 2013 | Liz Weston, Money Talk
Dear Liz: My partner passed away a little more than a year ago. I inherited his 401(k) and life insurance. I opened an IRA in which to place the amount of the 401(k), but the company told me that after a year (which is now), I have to withdraw the money over five years. Is that really required? I'd like to be able to have it on hand in case of an emergency but at the same time save it for our 2-year-old son's college education. Answer: Since you weren't married, you don't have the option of treating this inherited account as your own. That would have allowed you to delay withdrawals until after you turned 70 1/2 , if you wanted.
BUSINESS
June 22, 2013 | By Minh Dang, Los Angeles Times
The trouble started with the inheritance. Eight years ago, the economy was booming and Jane Osick was on solid ground. She had manageable student loans, a stable job and excellent credit. Then, in less than two years, she racked up $120,000 in credit card debt. How did a sensible schoolteacher dig such a hole? Blame it on the inheritance - a house she helped refinance when her mother was ailing and then remodeled after her mother died. "Looking back, what I should have done was stay out of it," said Osick, 48. "We should have let her lose the house, because what difference would it have made?
ENTERTAINMENT
June 6, 2013 | By Jenny Hendrix
Academy Award winner -- and "Girl on Fire" -- Jennifer Lawrence will star in and produce "The Rules of Inheritance," Deadline Hollywood confirms.  The film is an adaptation of Claire Bidwell's Smith 2012 memoir of the same title, about her parents' diagnosis of cancer when she was just 14. The memoir recounts Smith's coming-of-age and struggle with grief as she loses both parents within seven years and throws herself into romance, travel...
ENTERTAINMENT
April 4, 2013 | By Joe Flint
After the coffee. Before remembering to record NBC's "Hannibal. " The Skinny: For some reason my DVR didn't record "Modern Family" last night but it did capture some good discounts on QVC. You don't need me to tell you that today's headlines include a ton of coverage of Jay Leno and Jimmy Fallon. Also, LucasArts is going away and new episodes of "Arrested Development" will be here for Memorial Day weekend! Daily Dose: Now the British can start living their best life too. Discovery Communications and Oprah Winfrey are taking the OWN Network to Britain and putting its shows on the TLC channel there.
WORLD
March 23, 2013 | By Tom Kington, Los Angeles Times
VATICAN CITY - As he begins work, Pope Francis will find a pile of files in his in-tray on sex abuse and squabbling cardinals. But he will also come across a thick dossier on the Vatican's secretive bank, which his predecessor, Pope Benedict XVI, tried to drag into the daylight after years of suspicion that it was a haven for money launderers. After struggling to get the Vatican onto a coveted European "white list" for clean banks, Benedict suffered a setback last year when his top manager, Ettore Gotti Tedeschi, was fired by the bank's board, officially for incompetence.
CALIFORNIA | LOCAL
July 17, 2002 | From Times Staff Reports
A probate judge has ruled that the stepdaughter of Orange County developer Henry T. Segerstrom may inherit a trust established by her late mother, but that she is not entitled to collect her mother's artwork, antiques and furniture. Mikette Von Issenberg, 53, the daughter of local arts patron Renee Mary Segerstrom, will receive the proceeds of three real estate properties. Issenberg had battled Segerstrom for almost two years, saying that her stepfather was holding her inheritance hostage.
OPINION
July 6, 2010 | By Ray D. Madoff
Dan Duncan is reportedly the first billionaire to die during the one year since 1916 in which there is no estate tax in place. His heirs have hit the tax-free jackpot. Duncan is the poster child for opponents of the estate tax. Described by the New York Times as a "soft-spoken farm boy who started with $10,000 and two propane trucks," he grew his business until he became the 74th wealthiest person in the world. With an estimated net worth of $9 billion, Duncan embodies the rags-to-riches story that Americans love.
ENTERTAINMENT
March 21, 2013 | By Joe Flint
Being the king of late-night TV isn't as valuable as it once was. If Jimmy Fallon takes over for Jay Leno as host of NBC's "The Tonight Show" (when it comes to Leno and succession, it's always better to use "if" and not "when"), he will be taking over real estate that has seen its value drop tremendously over the last several years. Advertising for NBC's "The Tonight Show with Jay Leno" has fallen by more than 40% since 2007, according to Kanter Media, an industry consulting firm.
ENTERTAINMENT
February 17, 2013 | By Sheri Linden
What's in a name? Ask Bettina Goering, Katrin Himmler and Rainer Hoess. For decades, Germany has grappled with its collective guilt over the Third Reich, but for the progeny of the regime's chief architects, the matter hits far closer to home. Chanoch Ze'evi, the Israeli director of the thoughtful and affecting documentary "Hitler's Children," conducted interviews with five descendants of key Nazi figures. Though Ze'evi's creative choices don't always serve the material - he unwisely attempts to pump up the emotional volume with an intrusive music score - his compassion for his subjects is clear, and their straightforward testimony is provocative.
Los Angeles Times Articles
|