The Kiddie Tax can apply to the unearned income of children. Read this blog by my friend and colleague Steve Hartnett, an estate planning expert, to learn if this tax applies to you or your children. Also, learn ways to avoid the Kiddie Tax. Kiddie Tax is Worse Than Ever … [Read more...]
What is a GST Trust?
A Generation-Skipping or “GST” trust can be a good way to keep assets out of the taxable estate of a beneficiary and yet still allow them to be used for the beneficiary’s benefit during life. Read this blog, by my friend and colleague Steve Hartnett, an estate planning expert, to learn more about this type of trust and whether it might make sense for you. What is a GST Trust? … [Read more...]
Your Proof of Identity and Your Estate Plan: What’s the Connection? Also Your Driver’s License My Restrict Your Travel Plans
An essential part of creating a comprehensive estate plan is the execution, that is, signing, of the plan documents. While the execution of some documents, such as Wills, must be witnessed by two witnesses, most documents must be notarized. These include Trusts, Powers of Attorney, certain Assignment forms and Deeds. What does notarization entail? It means signing the documents before a Notary Public commissioned by the State of California. We have such notaries on our … [Read more...]
New Tax Proposal re: Retirement Savings
There are new tax proposals working their way through the House and Senate. These proposals, if passed, would change retirement savings significantly. Read the following blog, by my friend and colleague Steve Hartnett, an estate planning expert, to learn more about these proposals and whether they might impact you or your clients. New Tax Proposal re: Retirement Savings … [Read more...]
When and Where You Die Matters
Where you die matters. While you’ll pay the same federal estate tax no matter where you die, 1/3 of the states have a separate estate or inheritance tax. California is the latest state to consider adding a state estate tax. Read this post by my friend and colleague Steve Hartnett, an estate planning expert, to learn more. When and Where You Die Matters … [Read more...]
Modifying an Irrevocable Trust
Irrevocable trusts often can be modified. They can be modified under the Uniform Trust Code or a state law decanting. Read this post by my friend and colleague Steve Hartnett, an estate planning expert, to learn more about how a modification of a trust can help. Modifying an Irrevocable Trust … [Read more...]
Planning is Critical
It’s important to have a plan. If you don’t have a plan, your state law dictates who gets your property and makes decisions for you. Read the following post by my friend and colleague Steve Hartnett, an estate planning expert, to learn more about a heart-breaking story of someone who didn’t plan and the consequences. Planning is Critical … [Read more...]
Making Trusts More Flexible
Trusts can be drafted to be quite flexible. This article by my friend and colleague Steve Hartnett, an estate planning expert, examines several ways you can add flexibility to your trust. This added flexibility will increase the usefulness of your trust. Making Trusts More Flexible … [Read more...]
Trust Protectors Add Flexibility
Trusts can be drafted to be quite flexible. This article by my friend and colleague Steve Hartnett, an estate planning expert, examines how Trust Protectors can add flexibility to your trust. This added flexibility can increase the usefulness of your trust. Trust Protectors Add Flexibility … [Read more...]
What Are 529 Plans and What Are Their Advantages?
What are 529 plans? Can they be held in trusts? Read this blog by my friend and colleague Steve Hartnett, an estate planning expert, to learn more about these plans and why to consider them. What Are 529 Plans and What Are Their Advantages? … [Read more...]
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