When most people wonder, “Why do I need a trust?” they are typically referring to a revocable living trust. Revocable Living Trusts are used as centerpieces in estate plans and are appropriate for most people. Should I have a trust now? Yes, consult with a qualified, experienced estate planning attorney to set up a trust now. Your revocable living trust covers three possible time periods: While you are alive and well While you are alive, but disabled After your death What … [Read more...]
Trusts for Privacy
Trusts have many uses. Perhaps the most important is that they can provide privacy at death. Garry Shandling is thought to have used a trust to provide privacy for those he left behind. See the following article by my friend and colleague Steve Hartnett, an estate planning expert. Trusts for Privacy … [Read more...]
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...]
ABLE Acccounts: A Special Option for Special Kids
When planning for children with special needs, it takes special care to preserve their eligibility for public benefits. An ABLE account is a new way to preserve eligibility while gaining tax advantages. Read this article by my friend and colleague Steve Hartnett to learn more about this new tool in planning for those who were disabled by age 26. As of this date, California' ABLE account program has not been fully implemented. However, it is expected to be fully operational sometime during … [Read more...]
Would You Prefer a Charitable Deduction This Year?
Perhaps you would prefer to take a charitable deduction this year. Maybe you have higher income this year, or the reduced ability to take a deduction next year. A donor advised fund may make sense for you. A donor advised fund allows a deduction this year, even though distributions will be made to public charities in future years. Read on to learn more about a donor advised fund. Would You Prefer a Charitable Deduction This Year? … [Read more...]
Donor Advised Funds: IRS Issues New Ruling
A new ruling addresses whether a donor advised fund may satisfy charitable pledges by the donor/advisor. It now may do so, as long as certain requirements are met. Read the guest blog by my friend and colleague Steve Hartnett, an estate planning expert, to learn more about how donor advised funds are a great tool for charitable giving. Donor Advised Funds: IRS Issues New Ruling … [Read more...]
Sager Family Shows Perils of Blended Families
Blended families require special planning. Communication of those plans is key to keep frictions to a minimum. This story examines the controversy in the family of sports reporter Craig Sager, who died in December 2016. Sager Family Shows Perils of Blended Families … [Read more...]
Basics of Estate Planning: Privacy and Estate Planning
Privacy is important, especially in today’s world. Learn how estate planning can enhance or reduce your privacy. Read the following article by my friend and colleague Steve Hartnett on this important issue. Basics of Estate Planning: Privacy and Estate Planning If you have any questions about this topic, we can help. … [Read more...]
Basics of Estate Planning: IRAs
IRAs are complex assets to handle in an estate plan. There are tax issues during life and after death. Read the following article by my friend and colleague Steve Hartnett, an experienced and qualified estate planning attorney. Basics of Estate Planning: IRAs If you need assistance with IRA planning, we can help. … [Read more...]
Basics of Estate Planning: Powers of Appointment – Part 2
Trusts can be very flexible instruments. One of the ways to add flexibility is by using powers of appointment. In Part 2 of his blog, my friend and colleague Steve Hartnett, an experienced and qualified estate planning attorney, continues his examination of the different types of powers of appointment and how that can impact taxation. Basics of Estate Planning: Powers of Appointment – Part 2 If you need assistance with a power of attorney issue, we can help. … [Read more...]
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