Recent legislation allows Ohio residents to submit 2 names to the Ohio BMV to be used by law enforcement in the event of a serious automobile accident.

A Democratic Congressman introduced legislation to return the estate tax exemption and credit to 2001 levels – $1 million exemption (indexed for inflation) and a top rate of 55% – effective 1/1/2012. The chances of it passing the Republican controlled House are zero.

Interesting story about an extremely wealthy, reclusive, childless woman who left her fortune to her nurse and others. Her relatives, who she had not presumably seen in 20 years because she lived in an NY hospital under a fake name, are now suing the estate.

I have long doubted their effectiveness in shielding the assets of non-residents of the states purporting to protect them. In light of a recent court decision, there is achart which summarizes their effectiveness. In short, a trust created by a resident of the protecting state prior to any potential claim and not used for bankruptcy purposes, is effective.

Common mistakes made by a widow or widower include: