Estate Linked to Friend of Bernie Madoff to Pay $250M to Victims

A recent developing story involving Stanley Chais, a friend of the infamous Bernie Madoff and participant in Madoff’s Ponzi scheme, outlines the potential perils that can plague an estate administration involving a bad actor. Stanley Chais’ estate is the subject of a recent settlement in California which, pending approval from a New York federal bankruptcy judge, is expected to provide approximately $15M in restitution to California’s attorney general and over $250M to a trustee recovering funds for Madoff’s victims.

The Importance of Titling Your Assets in Estate Planning

The Importance of Titling Your Assets in Estate Planning The Tennessee Court of Appeals’ recent decision, In Re Estate of Calvert Hugh Fletcher, highlights the importance of titling assets. This case involves a joint checking account with rights of survivorship established by a married couple, the Fletcher’s, after they refinanced their home mortgage. After depositing…