Attorney and Founder of the estate planning law firm, Altman & Associates, Gary Altman, Esq., is making full use of the possibilities of social media, with active profiles now on Twitter, Facebook and LinkedIn.

“Studies show that more than 60% of all Americans die without a will, leaving their estates to be divided and taxed according to predetermined federal and state laws, perhaps in ways they didn’t intend.  This is outrageous.  The more venues I have to educate and stress the critical importance of estate planning, the better.  This is why, alongside our estate planning blog, Altman Speaks, we decided to expand our outreach on social media applications.”

Finding Gary Altman/Altman & Associates online:

·     Twitter:  http://twitter.com/garyaltman

·     Facebook:  http://www.facebook.com/GaryAltmanEsq

·     LinkedIn:  http://www.facebook.com/GaryAltmanEsq

·     “Altman Speaks” Blog: www.altmanassociates.net/blog

A California court has made the late Michael Jackson’s mother, Katherine Jackson, the temporary administrator of his estate pending a hearing next Monday.  Mrs. Jackson’s had petitioned for the status out of concerns that a host of third parties could try to steal from the estate.

In addition to various bank accounts, Mrs. Jackson and her attorney worry about Michael’s stake in the Sony-ATV Music Publishing Catalog - which includes Beatles’ works — thought to be the most important asset in the estate.

Right now, it’s uncertain whether Michael Jackson had a will as none of the family members were aware of one.

You wouldn’t think so, but many times celebrities dies without a comprehensive estate plan in place.  It does not surprise me that there are already allegations regarding inappropriate conduct by various parties.  I believe that this will be the tip of the iceberg. 

The lesson for us normal folks is to plan early and to make sure all assets are owned properly and that all retirement accounts have the proper beneficiary designations.  Everything should be coordinated and reflect the exact wishes of the individual.  Moreover, it is important that the people close to you know about your planning, though maybe not the exact details, and know who to call when the unfortunate happens.