When you’re deciding to whom to leave assets, most people choose their children or other descendants. However, you also need to decide on the “contingent remainder” beneficiary. In other words, who should get your assets if all your other beneficiaries are gone. My friend and colleague Steve Hartnett, an estate planning expert knows this area. Read on to learn more about this often-confusing concept. … [Read more...] about What’s an “Atom Bomb” or “Contingent Remainder” Beneficiary?
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Puerto Ricans are Unique, as Is Estate Planning for Them
Puerto Ricans hold a unique position under U.S. law. U.S. estate taxation treats those from Puerto Rico different from other U.S. citizens or citizens from other countries. My friend and colleague Steve Hartnett, an estate planning expert shares his thoughts. Read on to learn more. … [Read more...] about Puerto Ricans are Unique, as Is Estate Planning for Them
Use the Exclusion or Lose It
Currently, each person can give $11.58 million during life or at death. However, that amount will be cut in half by January 1, 2026. It may go down even sooner according to my friend and colleague Steve Hartnett, an estate planning expert. Read on to learn why and how you should use it before you lose it. … [Read more...] about Use the Exclusion or Lose It
Building Flexibility into Your Plan
There are all sorts of formalities to an estate plan. Does that mean you can’t change anything by yourself? Read the blog by my friend and colleague Steve Hartnett, an estate planning expert, to learn how your estate plan, if done properly, can give you the flexibility to make changes by yourself as to certain assets. Read on to learn more. … [Read more...] about Building Flexibility into Your Plan
Planning for Incapacity
There is more to estate planning than disposing of your assets after your death. Planning for your incapacity is just as important. Read this post by my friend and colleague Steve Hartnett, an estate planning expert, to learn more about how incapacity planning can save you and your loved ones' anxiety. Read on to learn more. … [Read more...] about Planning for Incapacity
What Does It Mean If Medi-Cal Imposes a “Waiting” Period?
Many seniors enter their retirement years knowing little about Medi-Cal, California’s Medicaid program, because they were covered by employer-sponsored or privately funded health insurance throughout their working years. That lack of knowledge can be problematic – and costly – if you are one of those seniors and you now need to qualify for Medi-Cal. In fact, you may find yourself subject to a lengthy waiting or "look back" period during which Medi-Cal will not cover any of your health care … [Read more...] about What Does It Mean If Medi-Cal Imposes a “Waiting” Period?
Proving Undue Influence in a California Will Contest
In the normal course of events, the terms of a decedent’s Last Will and Testament are made public shortly after his/her death. Usually, the terms are not surprising; however, occasionally the terms of the Will are not at all what was expected. In fact, it may be that the entire Will does not sound like something the decedent would have written. When that is the case, you could have the basis for a Will contest if you believe that those terms are the result of someone exerting “undue influence” … [Read more...] about Proving Undue Influence in a California Will Contest
Who Will Make Healthcare Decisions for Me If I Can’t Make Them?
Like most people, you probably take the ability to make decisions for yourself for. What would happen, however, if you were unable to make decisions for yourself one day because of your own incapacity? Chances are good you would prefer to make as many of those decisions ahead of time as possible to ensure that they are honored. One way to do that is to execute an advance directive. In this blog, we'll explain who will make healthcare decisions for you if you can’t make them. Are Your … [Read more...] about Who Will Make Healthcare Decisions for Me If I Can’t Make Them?
Planning Is Important
Planning is important. End-of-year tax planning is one part of that planning. This year you should also consider whether you’ve had any payroll tax withholdings deferred. If your employer deferred those withholdings, you’ll have more money withheld next year than usual. That means you’ll have less money for other things, like IRA contributions. My friend and colleague Steve Hartnett, an estate planning expert, has many good insights to share. Read on to learn more. … [Read more...] about Planning Is Important
Estate Planning for Members of the LGBTQ+ Community
For members of the LGBTQ+ community, and their supporters, much has changed for the better over the last several decades. Just recently, one of the hardest fought battles was finally won – the right of same-sex couples to marry. With that victory finally in hand, members of the LGBTQ+ community often ask if LGBTQ+ estate planning remains necessary now that same-sex couples can legally marry. Let's explore estate planning for members of the LGBTQ+ community. Recent LGBTQ+ Victories Whether … [Read more...] about Estate Planning for Members of the LGBTQ+ Community
