Retirement assets may be a very large part of a person’s estate at death. It’s important to consider the income tax ramifications of naming a beneficiary, as well as protecting those assets for the beneficiaries. This article, by my friend and colleague Steve Hartnett, an estate planning expert, considers some of these issues. 6 Important Estate Planning Considerations – Part 5: Retirement Assets … [Read more...] about 6 Important Estate Planning Considerations – Part 5: Retirement Assets
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6 Important Estate Planning Considerations – Part 4: Beneficiary Designations
Beneficiary designations can be a simple way to pass assets at death. While beneficiary designations avoid probate, they may introduce other problems. This article, by my friend and colleague Steve Hartnett, an estate planning expert, shows how a revocable trust can provide a more flexible way to achieve a client’s goals. 6 Important Estate Planning Considerations – Part 4: Beneficiary Designations … [Read more...] about 6 Important Estate Planning Considerations – Part 4: Beneficiary Designations
6 Important Estate Planning Considerations – Part 3: Your Kids
An estate plan considers not just to whom assets should go, but also how. Each beneficiary is unique and the estate plan should consider their unique situation. This article, by my friend and colleague Steve Hartnett, an estate planning expert, looks at a couple with three very different children and how they might leave the assets for them in three very different ways. 6 Important Estate Planning Considerations – Part 3: Your Kids … [Read more...] about 6 Important Estate Planning Considerations – Part 3: Your Kids
Lessons We Can Learn from Alan Thicke’s Estate Drama
When a celebrity dies, it is far from uncommon for a contentious legal battle to ensue over the fortune left behind. Sadly, the behavior of the litigants is not surprising. What is surprising, however, is how often the rich and famous fail to leave behind a well drafted and thorough estate plan – a plan that would dramatically decrease the likelihood of litigation. The death of actor Alan Thicke, and the battle over his estate that continues long after his death, is yet another example of this … [Read more...] about Lessons We Can Learn from Alan Thicke’s Estate Drama
Planning for Medi-Cal’s Look Back Period
As clients of our firm well know, we are strong advocates for planning for not only our inevitable passing but also for the possibility for the need for some form of long term care. It’s a fact of life that the longer we live, the greater is the likely need for long term care. Paying for that care can be very expensive. The five basic methods to pay for such care are: 1.privately with one’s one assets; 2. with long term care insurance; 3. with Medicare, which is a limited benefit; 4. with … [Read more...] about Planning for Medi-Cal’s Look Back Period
What is a Testamentary Trust and Why Would I Need One?
One of the primary benefits of a trust is that the assets you include in the trust will likely avoid the probate process. There are different types of trusts and we can assist you in determining which ones are right for you. A testamentary trust is a type of trust that is included in a will or a living trust, but does not go into effect until the person who created it dies. Trust administration is an important process and understanding how a testamentary trust works will help you make a … [Read more...] about What is a Testamentary Trust and Why Would I Need One?
Estate Planning is Too Important to Procrastinate
Only 44% of Americans have even a simple Will. We procrastinate for several reasons. Learn those reasons and how to push past them. My friend and colleague Steve Hartnett, an expert in estate planning, explaing why planning is important. Estate Planning is Too Important to Procrastinate … [Read more...] about Estate Planning is Too Important to Procrastinate
Are You Entitled to Veterans Aid and Attendance?
As a veteran, or the surviving spouse of a veteran, you likely know about some of the more common benefits available to you through the Veterans Administration (VA). You are probably also aware of the complex maze that must often be navigated in order to get approved for the benefits to which you are entitled. You may not find it surprising to learn that you may be entitled to additional benefits through a lesser known program referred to as “Veterans Aid and Attendance (VA&A).” For veterans … [Read more...] about Are You Entitled to Veterans Aid and Attendance?
Sacramento Retirement Planning and the Roth IRA
If you are considering Sacramento retirement planning, it is not too late to start. The truth is, you may not be able to safely rely on your Social Security benefits. Instead, you should be proactive and create your comprehensive retirement plan now. That way, you can relax and enjoy your retirement the way you always hoped you would. One easy way to get started is by opening Individual Retirement Accounts which can help you start saving and investing in your future. One valuable type of IRA … [Read more...] about Sacramento Retirement Planning and the Roth IRA
Why You Should Consider a Testamentary Trust
One of the primary benefits of a trust is that the assets you include in the trust will likely avoid the probate process. There are different types of trusts, so you should discuss your options with your estate planning attorney first. A testamentary trust is a type of trust that is included in a will and does not go into effect until the person who created it dies. Trust administration is an important process and understanding how a testamentary trust works will help you make a … [Read more...] about Why You Should Consider a Testamentary Trust
