Outliving your Retirement Savings

Outliving your Retirement Savings

According to a recent report in The Washington Post, Americans are living longer than ever.  However, within such a notable finding there also comes the realization that people are also living more expensive lives as a result, often without much of a financial safety net gathered along the way.  In fact, the report adds, nearly 20% of Americans over the age of 65-years-old are working today.  While some of these […]

Pet Trusts

Pet Trusts

Evolving attitudes over the last few decades toward domesticated pets has trended widely enough across the American landscape in such a way that it has largely reshaped the way we view animals as being an extended part of our families.  In fact, statistics show that pet ownership in the United States increased roughly 3 percent from 2010 to 2015, to where approximately 65 percent of households now own a pet.  […]

Court of Chancery Issues Judgment Against Son Who Depleted Mother’s Retirement Account

Court of Chancery Issues Judgment Against Son Who Depleted Mother’s Retirement Account

    By:  Brian J. Ferry, Esq. Ferry Joseph, P.A. On October 14, 2015, Vice Chancellor Sam Glasscock III of the Court of Chancery issued a Memorandum Opinion in the matter of Korn v. Korn, C.A. No. 8266-VCG. In his Opinion, the Vice Chancellor issued a judgment in the amount of $401,000 against the Plaintiff, Richard J. Korn, for unauthorized distributions that were taken out of his mother’s Morgan Stanley […]

Chancery Court Compels Fiduciary to Submit to an Accounting under Durable Personal Powers of Attorney Act

Chancery Court Compels Fiduciary to Submit to an Accounting under Durable Personal Powers of Attorney Act

Chancery Court compels fiduciary to submit to an accounting under Durable Personal Powers of Attorney Act   By: Regina M. Matozzo, Esq. Ferry Joseph, P.A. In an opinion issued on June 30, 2014, Master Abigail M. LeGrow held that the authority of an agent pursuant to a power of attorney begins at inception not incapacity and ordered a forensic accounting be conducted by a third party in Estate of Dean, 2014 […]

Establishing a Guardianship in Delaware

Establishing a Guardianship in Delaware

Estate planning is important for countless reasons.  Most people understand the benefits of having a will or trust in place to direct the disposition of their assets upon their death.  However, many people fail to think about is why it is so important to have an advanced health care directive and durable power of attorney in place long before they may ever need to be utilized.  One of the most […]