Wills and Estates

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    The Caretaker of Muncy Farms

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    In November 1940, four children showed up after dark at a stone farmhouse in rural Pennsylvania. They arrived by car down a long dirt driveway. The headlights illuminated the tall elm trees surrounding the manor house, and the rooms inside were lit up brightly.Brian, Susan, Sheila and Malcolm Barlow, ages 12 to 5, had just endured the blackout of the London Blitz, the German bombing during World War II.To protect her children, Violet Barlow, their mother, had placed them on a boat from England to Canada, a 3,000-mile journey. The children then took a train to New York City, where they spent several weeks in immigration limbo, and then got on another train to the small town of Muncy, Pa.Awaiting them was Margaret Brock, who owned the farmhouse and country estate called Muncy Farms, dating to 1769 and set on more than 800 acres of fields and woods along the Susquehanna River. Muncy Farms was once part of a 7,000-acre estate. The original stone farmhouse dates to 1769. Some 85 years later, Malcolm Barlow, the youngest sibling, still remembered the menu that first night. “It was leg of lamb, brussels sprouts, roasted potatoes and apple pie à la Mode,” he said. “A very British dinner.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Digital Estate Planning: How to Prepare Your Social Media Accounts

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      When planning your estate, leave instructions for handling your online accounts, data and other electronic affairs.How do you want your social media pages, smartphone photos and computer files handled after you die? While property and money distribution are usually at the top of the estate-planning list, don’t forget to leave instructions regarding your digital accounts and assets — so your survivors are left with more than just random bits and pixels from your online presence.Here’s a short guide to getting your digital material in order, as well as advice for dealing with the accounts of those who departed without leaving directions.Create a Digital DirectiveA law known as the Revised Uniform Fiduciary Access to Digital Assets Act, enacted by most states, gives a chosen representative (like your estate’s executor) the authority to manage your electronic affairs. For specific instructions, create a document stipulating how you want your online accounts and all digital content handled when you die or become incapacitated, and keep it with your other estate papers.Giving access to your account user names and passwords will greatly help your representative, but proceed carefully. You will need a safe place to list the credentials for all your financial institutions, as well as for any e-commerce stores, insurance policies, online storage, email, social media platforms, cable and wireless carriers, medical apps, and media subscriptions.The 1Password app can hold all kinds of confidential information.1PasswordOne way to encrypt and store this sensitive information is to enter it all into a password-manager app. Wirecutter, the product review site owned by The New York Times, recommends 1Password ($3 a month for an individual plan, $5 a month for the shared family plan) or Bitwarden (free, with in-app upgrades). Apple and Google have their own free apps, which save and store passwords on devices running their software.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      How Rupert Murdoch Could Fight Back After a Big Legal Defeat

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      Rupert Murdoch lost a bid to rewrite a family trust to give his son Lachlan control of his empire after he dies. But the nonagenarian media titan plans to appeal.Rupert Murdoch failed in his attempt to give sole control of his media empire to Lachlan, his eldest son.Emily Najera for The New York TimesMurdoch’s next move Rupert Murdoch has lost his bid to hand control over his media company to his elder son, Lachlan Murdoch, after he dies. A Nevada commissioner ruled against his attempt to modify the terms of a family trust that would have stripped three of his other children of their voting rights over his empire.The media mogul, who plans to appeal the ruling, is used to getting his way, The Times’s Edmund Lee writes for DealBook. Now what?A recap: Under the current arrangement, when Murdoch dies, four of his children — Lachlan, James, Elisabeth and Prudence — will have an equal say in what happens next because they will inherit his voting shares.But Elisabeth and James have different political leanings from Lachlan and their father, and James has indirectly criticized how Fox News operates. The three siblings contested the attempts to change the trust.This was perhaps the last maneuver of Murdoch’s seven-decade career. The 93-year-old wanted to give Lachlan control over his news outlets — which include Fox News, The Wall Street Journal, The New York Post and major newspapers and television outlets in Australia and Britain — to maintain their right-leaning slant.Fox News stars have been instrumental in helping President-elect Donald Trump through his three presidential campaigns.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      What to Do With an Inheritance

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      A sudden windfall while grieving can be an emotional minefield, particularly for younger adults. Experts share ways to handle it wisely.Michael Hay knew his mother was financially secure, but he didn’t fully know her situation until she was admitted to a hospital in August and he was granted her power of attorney. Even then, it wasn’t until his mother’s unexpected death, about a month later, that Mr. Hay understood that he and his two sisters were about to inherit a sum that would make a real difference in their lives.Nine months later, Mr. Hay, 47, says he’s still processing the shock of suddenly losing his 78-year-old mother while gaining an inheritance he wasn’t prepared to receive.“I still call it ‘my mom’s money’ even though it’s legally in my name,” said Mr. Hay, who works at a tech start-up and lives in Madison County, N.Y.Mr. Hay’s reaction to his sudden wealth is not unusual. “It is a big shock both emotionally and financially, and I don’t know that anyone is ever prepared,” said Kathryn Kubiak-Rizzone, founder of About Time Financial Planning in Rochester, N.Y. She recommends that beneficiaries not make any financial decisions for the first six months because they’re likely to still be grieving.Research shows that more adult children may find themselves unexpectedly inheriting wealth over the next two decades. The silent generation, or people born roughly between 1928 and 1945, and its successors, the baby boomers, are expected to transfer significant wealth to members of Generation X and millennials over the next 20 years, according to the Wealth Report, a publication from Knight Frank, a London global property consultant.Federal Reserve figures show that half of all inheritances are less than $50,000, but with boomers reaching 80 and beyond, members of their family may begin to inherit more wealth. More than half of millennials who are anticipating an inheritance from their parents or another relative expect to gain at least $350,000, according to a survey by Alliant Credit Union in Chicago. (Whether they actually receive that much is another question.)We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More