The role of an experienced and qualified estate planning attorney is crucial in helping you navigate complex legal terrain to protect your assets, your loved ones, and your legacy. Here's what you can expect when engaging the services of an estate planning attorney: 1. Personalized Assessment: Your attorney will start with a comprehensive evaluation of your financial and family circumstances, long-term goals, potential tax liabilities, and your wishes regarding healthcare and … [Read more...] about The Role of an Estate Planning Attorney: What to Expect
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What We Can All Learn from Diller v. Richardson – Part II
Clients create Estate Plans to work in a certain way. They raise their concerns with the drafting attorney and a qualified Estate Planning attorney includes safeguards to ensure that the plan works as intended and desired yet contains provisions flexible enough to change if circumstances require a change. Almost all of us have read or heard of cases in which the plan did not work as intended and litigation ensured. In fact, we often read about them in the news. The Diller v. Richardson case … [Read more...] about What We Can All Learn from Diller v. Richardson – Part II
What We Can All Learn from Diller v. Richardson – Part I
Clients create Estate Plans to work in a certain way. They raise their concerns with the drafting attorney and a qualified Estate Planning attorney includes safeguards to ensure that the plan works as intended and desired yet contains provisions flexible enough to change if circumstances require a change. Almost all of us have read or heard of cases in which the plan did not work as intended and litigation ensured. In fact, we often read about them in the news. The recent California case of … [Read more...] about What We Can All Learn from Diller v. Richardson – Part I
Understanding Inheritance Taxes and How to Minimize Their Impact
Inheritance tax, often confused with estate tax, is a tax imposed by certain states in the U.S. on individuals who inherit assets from a deceased person's estate. Unlike the estate tax, which is levied on the entire value of an estate before distribution, inheritance tax is paid by the beneficiaries. The rate of inheritance tax, where applicable, often depends on the relationship between the deceased and the beneficiary, as well as the value of the inherited property. Here are some strategies … [Read more...] about Understanding Inheritance Taxes and How to Minimize Their Impact
R-E-S-P-E-C-T Find Out What It Means To…Your Estate Plan
Individuals often have reservations about seeking out an attorney’s help with their Estate Plan. Sometimes they worry about the cost, other times they think that they can do it on their own, and sometimes they die before the thought of creating an Estate Plan ever crosses their mind. Unfortunately, the issues that arise from a lack of proper Estate Planning on death don’t care who we are. As this blog demonstrates, even celebrities like Aretha Franklin struggle with creating a comprehensive … [Read more...] about R-E-S-P-E-C-T Find Out What It Means To…Your Estate Plan
Exploring the Many Issues Surrounding the Estate and Trust of Richard Blum – Part III
Every state that recognizes trusts as a legal entity imposes fiduciary duties upon the Trustee of such trust. These duties may have different names in different jurisdictions, but ultimately a breach of fiduciary duties means that the Trustee has failed to do what is required of them under the terms of the trust instrument and local law. This third and final part of a three-part series by my friend and colleague Tereina Stidd, an estate planning expert, examines a case ripped from the headlines … [Read more...] about Exploring the Many Issues Surrounding the Estate and Trust of Richard Blum – Part III
Exploring the Many Issues Surrounding the Estate and Trust of Richard Blum – Part II
Every state that recognizes trusts as a legal entity imposes fiduciary duties upon the Trustee of such trust. These duties may have different names in different jurisdictions, but ultimately a breach of fiduciary duties means that the Trustee has failed to do what is required of them under the terms of the trust instrument and local law. This second part of a three-part series by my friend and colleague Tereina Stidd, an estate planning expert, examines a case ripped from the headlines that … [Read more...] about Exploring the Many Issues Surrounding the Estate and Trust of Richard Blum – Part II
Exploring the Many Issues Surrounding the Estate and Trust of Richard Blum – Part I
Every state that recognizes trusts as a legal entity imposes fiduciary duties upon the Trustee of such trust. These duties may have different names in different jurisdictions, but ultimately a breach of fiduciary duties means that the Trustee has failed to do what is required of them under the terms of the trust instrument and local law. This first part of a three-part series by my friend and colleague Tereina Stidd, an estate planning expert, examines a case ripped from the headlines that … [Read more...] about Exploring the Many Issues Surrounding the Estate and Trust of Richard Blum – Part I
The Magic of Grantor Trusts
Grantor trusts are a particularly powerful tool in estate planning. They allow the taxpayer to remove assets from their taxable estate, while those assets can grow tax-free because the grantor is paying the income tax for the trust. My friend and colleague Steve Hartnett, an estate planning expert, has looked into these useful planning tools. Read on to learn more about the magic of grantor trusts. … [Read more...] about The Magic of Grantor Trusts
Avoiding Family Disputes Over Inheritances
Inheritances can be a sensitive topic. When not handled properly, they can lead to rifts and disputes that mar family relationships, sometimes permanently. But with foresight and strategic planning, many of these conflicts can be avoided. Here's a guide on how to navigate inheritances without causing familial tension. 1. Open Dialogue: Initiating discussions about estate planning with your family can be uncomfortable but is often necessary. By being open and honest about your decisions and … [Read more...] about Avoiding Family Disputes Over Inheritances
