What are my rights as an executor?

Posted on Tuesday, September 22nd, 2015    

A person trusted to be the executor of an estate bears the responsibility of ensuring that instructions in the will are devotedly being carried out, and assets are being managed in a way that is responsible and efficient. To allow executors to carry out these tasks, the court grants them certain rights, usually through a document called a letters testamentary.

As an executor, you may have the right to:

  • Be reimbursed for all the expenses you’ve incurred
  • Receive compensation
  • Hire professionals to work with you
  • Liquidate assets in order to manage the estate’s costs or pay the deceased person’s debts
  • Communicate with the people and institutions who had served the testator during his or her lifetime, and those who would normally keep the information about the deceased person confidential

However, executors are almost always under scrutiny from the beneficiaries involved. If you are an executor and have been accused of claims that would need legal guidance and representation to resolve, speak with our team at Peck Ritchey, LLC by calling our Chicago offices at (855) 328-5787 today.

Peck appointed as liaison to ABA Commission on Law and Aging

Posted on Friday, September 11th, 2015    

Peck Ritchey, LLC, is happy to announce that Kerry Peck has been appointed as the Liaison from the Senior Lawyers Division to the American Bar Association Commission on Law and Aging. Peck’s appointment began on the 1st of September.

The ABA’s Commission on Law and Aging examines a broad spectrum of legal issues that affect people in the later years of their lives. The work that the Commission engages in helps to produce advancements in the following areas: policy and practice research, professional and consumer education in capacity assessment, elder abuse, health care decision making, guardianship, rights of older adults, Medicare, and cognitive impairment.

Kerry Peck to present Judge Marovitz Mentoring award at My Hero Awards

Posted on Thursday, September 10th, 2015    

Peck Ritchey, LLC, is a proud sponsor of this year’s My Hero Awards, which will be held on the 17th of September in Chicago by the Lawyers Lend-A-Hand to Youth organization. The My Hero Awards commemorate leadership in and a commitment to one-on-one mentoring as demonstrated by individuals, corporations, and firms in the community.

Our very own Kerry Peck will be presenting this year’s Judge Marovitz Mentoring award to the Honorable Maureen E. Connors. If you are interested in contributing to the My Hero Awards event, the Lawyers Lend-A-Hand to Youth event page has all the relevant information about how you can buy tickets, become a sponsor, and make a donation.

Dispute over Jimi Hendrix’s estate settled

Posted on Wednesday, September 2nd, 2015    

The legal dispute over the estate of late American guitarist, singer, and songwriter Jimi Hendrix has been settled, according to an article from Rolling Stone.

A settlement has been reached between Jimi Hendrix’s adopted sister and the operator of his estate, Janie Hendrix, and his brother, Leon Hendrix, over a 2009 claim that Leon Hendrix and his company, Hendrix Licensing, sold merchandise that used the late icon’s signature and image without the rights. The settlement, which was reached in July, banned Hendrix Licensing from selling items with the registered Jimi Hendrix trademark. Both parties also agreed on an undisclosed settlement amount.

In 2002, Jimi Hendrix’s father died, leaving the late music icon’s $80 million estate to his daughter, Janie Hendrix. Jimi Hendrix died without a will in September 1970, which has only complicated matters.

Failing to plan your estate could put your loved ones’ financial welfare at risk. At Peck Ritchey, LLC, we help Chicago residents secure their loved one’s futures through estate planning. Call us at (855) 328-5787 today.

Bobbi Kristina Brown dies at the age of 22

Posted on Friday, August 7th, 2015    

Bobbi Kristina Brown, the daughter and only heiress of late singing icon Whitney Houston, died at the age of 22 on July 26, according to a report by the International Business Times.

Bobbi Kristina was in a coma and treated for about six months after being found unconscious in a bathtub at her home in Roswell, Georgia. During this time, her large inheritance from her mother became the center of speculation. According to the New York Daily News, Whitney Houston’s will states that in the event of her daughter’s death, Bobbi Kristina’s grandmother and two uncles would inherit the fortune. Whitney Houston’s will didn’t include Bobbi Kristina’s father, Bobby Brown, after the ex-couple’s divorce in 2007.

At one point, Bobbi Kristina Brown’s boyfriend, Nick Gordon, was also believed to be the next in line to receive her fortune. Bobbi Kristina and Nick claimed that they had married in 2014, but Bobbi Kristina’s father said no marriage records exist. While she was in a coma, a judge granted her father and her aunt as co-guardians over her, but the financial situation was not mentioned at that time.

Why nursing home planning is necessary

Posted on Tuesday, July 21st, 2015    

A good estate plan ensures that your heirs are well provided for in the event of your death or incapacity. However, a better estate plan is the one that addresses not just the needs of your children, but also your needs as your situation begins to necessitate the service of a long term care facility.

The service of a nursing home can be so costly that planning for it as early as today is necessary to protect the assets you have amassed over the years. Nursing home costs have the potential to deteriorate funds you intended to pass down through the family. With nursing home planning, however, you can plan to provide for your health later in life without trading off the financial future of your family.

Nursing home planning is part of the estate planning services our team of probate attorneys at Peck Ritchey, LLC, offers. Call us at (855) 328-5787 and start planning for you and your family’s futures today.

A third of the affluent have not established estate plans

Posted on Thursday, July 9th, 2015    

A survey among 750 individuals with investible assets of at least $1 million revealed that 38% of the affluent in the country have failed to establish an estate plan, CNBC reported on June 29.

The study showed that wealthy families with estate worth between $1 million and $5 million were less likely to plan for their financial future compared to those with assets reaching $5 million or more. Democrats and independents were also less likely to seek financial advice for their estate needs.

Experts believe that the reluctance of many wealthy families to plan for their estates lies on the ever-changing federal-estate tax law, which was only made permanent in 2013. Because of the changes, many affluent families have grown weary of keeping their estate documents up-to-date.

However, planning for your estate should never be an exhausting, endless legal task. Our team of Chicago probate attorneys at Peck Ritchey, LLC, can help you draft an accurate and compliant estate plan. Call us at (855) 328-5787 and start securing the financial future of your family today.

Audrey Hepburn’s sons in dispute over her personal items

Posted on Thursday, June 18th, 2015    

The sons of Hollywood icon Audrey Hepburn are reportedly embroiled in an estate battle against each other over a storage locker filled with their mother’s mementos – from jewelry and hats, to awards and photographs, Inquisitr reported on May 27.

According to the report, the Breakfast at Tiffany’s star wrote a will that granted her two sons, Sean Ferrer and Luca Dotti, ownership over the contents of the locker. However, the two were not able to divide up the memorabilia on their own, as Heburn’s will did not specify which son would keep which items.

Sean and Luca were the late star’s only children from two different marriages.

Preparing your estate could be a very difficult and confusing endeavor without the help of a probate attorney who can help you ensure that your will is as clear and unambiguous as possible. Consult with our Chicago-based legal team at Peck Ritchey, LLC, by calling (855) 328-5787 today.

Robin Williams’ children and wife granted extension to settle estate

Posted on Tuesday, June 9th, 2015    

Late comedian Robin Williams’ widow and his adult children have been given more time to settle their differences over Williams’ memorabilia in private, according to a report by the SF Gate on June 1.

Judge Andrew Cheng gave a new deadline of July 29, by which both parties should reach an agreement relating to the star’s disputed personal items and provide the results of an appraisal on his home in Bay Area, which would affect how much money his widow would get. To date, only 60 of the 360 disputed items have been settled. In March, the judge previously gave both parties until June 1 to divide up his mementos to avoid an ugly court battle.

Robin Williams’ widow filed a petition last December claiming that some of the comedian’s personal effects were removed from their Tiburon home a couple of days after his death.

Protecting your rights in an inheritance dispute like this requires the help and guidance of an indomitable, assertive probate attorney who can advocate for your rights and interests. Speak with our legal team at Peck Ritchey, LLC, by calling (855) 328-5787 to learn more about how we can help you during this trying time.

Peck Ritchey, LLC, looking to hire Legal Executive Assistant

Posted on Friday, June 5th, 2015    

The team at Peck Ritchey, LLC, is looking to fill an available position for a Legal Executive Assistant. The person who fills this role will provide a high-level of support to the firm’s Managing Partner. You can read more about the position by clicking here.

If you are interested in this position or have a referral, please call (312) 201-0900 and ask for Chelsea.

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