Estate of Denial news clips (12/07/16)

Prince’s Estate Worth $200 Million, Court Filings Suggest

Billboard

November 30, 2016

Prince‘s estate is worth about $200 million, a new court filing suggests.

It’s the first time a specific estimate has emerged publicly from court proceedings following Prince’s April overdose death. Since he left no known will, the rock superstar’s sister and five half-siblings are in line to inherit equal shares of the estate — after taxes gobble up about half of it. By comparison, David Bowie‘s estate was worth about $100 million when he died in January, according to his will.

 

How baby boomers and their heirs are preparing for the $30 trillion (with a T) transfer of wealth

CNBC

November 30, 2016

Over the next several decades, baby boomers — the wealthiest and one-time largest, generation in U.S. history — will pass down an estimated $30 trillion in assets to their children and grandchildren.

This so-called great wealth transfer is creating challenges for boomers, their heirs and the financial advice industry alike.

 

RI Lawyer Disbarred for $46M Scam Targeting Dying People

Patch.com

November 30, 2016

CRANSTON, RI Cranston lawyer Joseph Caramadre, who scammed insurers out of $46 million in death benefits, has been disbarred, the Rhode Island Supreme Court said today.

Caramadre opened annuities and other investments for terminally ill customers while concealing their true medical condition from the insurance companies.

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