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September 2013 Archives

Photos of Robert Johnson are continued subject of dispute

Blues fans may have heard about the dispute involving photographs of the legendary blues musician Robert Johnson. The dispute, which has been going on for nearly 25 years, involves the question of who has rights to the photographs. On one side of the dispute are the descendents of Johnson’s half-sister Carrie Harris Thompson. On the other side is Sony Music Entertainment; Delta Haze Corp., and Johnson’s sole heir, Claud Johnson.

Major pitfall of asset protection planning: fraudulent conveyance

For families with significant wealth, estate planning has to take a slightly different focus than for those with less wealth. One of the ways this is evident is the need for wealthy families to make risk management a prominent part of their estate planning efforts. Risk management refers to the task of addressing risks to family assets. Major areas of concern are business liability, personal liability, health care risks and risk to specific assets.

King estate sues MLK center to terminate license

The estate of the late Rev. Martin Luther King Jr., which is run by King's two sons, filed a complaint late last month in Atlanta, requesting that a judge prevent The Martin Luther King Jr. Center for Nonviolent Social Change from using his memorabilia, image and likeness. The nonprofit, located in Atlanta, is run by King's only remaining living daughter, Bernice King, making the suit a truly family affair.

Estate planning focus, for many, now on income tax

With the ushering in of a new estate tax regime, the emphasis has been shifting for financial and estate planners and their clients. Whereas the focus for many used to be on strategies for avoiding estate tax, now that the exemption amount is permanently set at over $5 million and the income tax rate is over 43 percent for some, the focus is more no how to avoid income tax.