Judge to Appoint Reciever in Hotelier’s Estate Battle

Posted on May 27th, 2011 No Comments

A judge in Florida said Monday he will appoint a receiver to manage the finances of a corporation that is at the center of an estate battle.

At the center of the estate battle is JBDK LLC, a corporation that was jointly owned by Myrtle Beach hotelier Dorothy Anderson and her husband, James Anderson. Judge Larry Hyman said he is concerned that Bert Anderson, a personal representative of his mother’s estate, has been given no information about how much money has passed through a a company checking account.

According to court documents, James Anderson transferred all of his interest in the corporation to the couple’s other son, Bobby, who has blocked Bert Anderson’s access to the checking account and has refused to provide an accounting for the funds. Bert Anderson filed a lawsuit against his father and brother, claiming that half of the money in the company checking account belongs to his mother’s estate.

If you need assistance with estate planning, please contact the Houston estate planning lawyers of Garg & Associates, P.C., at 281-362-2865.

A Money-Saving Time of Death for Steinbrenner's Family

Posted on July 15th, 2010 No Comments

The New York Post reports that, if there were a perfect time for the death, this year was it for George Steinbrenner. The year of 2010 is a fluke in that Congress failed to address estate tax issues, so there is no estate tax for the entire year. This makes it the year for America’s wealthiest to die, in order for their family to receive the most inheritance.

According to The Post, Steinbrenner’s net worth is estimated around $1 billion. With next year’s 55 percent estate tax, the family would have had to sell around $500 million, probably requiring them to give up the Yankees.

Another well-timed death was executed by a Houston man. According to The NY Post, “Houston tycoon Dan Duncan, a self-made mogul…died at 77 after building one of the country’s largest energy-service companies.” His net worth was around $8 billion, meaning his 2010 death saved his family around $4 billion.

If you or someone you know need help planning an estate, contact the trustworthy Houston estate planning lawyers at Garg & Associates by dialing 281-362-2865.

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