Your estate may be worth a little or a lot at your death. The items which your beneficiaries might cherish could be the sentimental ones. Read on to learn how your will or trust could provide the ability for you to keep a list and update it without needing to see your lawyer every time you change your mind on an item. The Little Things May be the Most Important … [Read more...] about The Little Things May be the Most Important
Estate Planning
Domestic Asset Protection Trusts
Domestic Asset Protection Trusts are spreading to more jurisdictions. However, their protections may be waning. Read on to learn more about Domestic Asset Protection Trusts. Domestic Asset Protection Trusts … [Read more...] about Domestic Asset Protection Trusts
Top Four Reasons to Create a Comprehensive Estate Plan
If you are like most people, you want your estate to be protected for your loved ones. One of the best ways to do that is to create a comprehensive estate plan. Without one, your loved ones may have to overcome significant tax liability and other unwanted consequences. Not having an estate plan may also mean leaving many of the decisions regarding your estate to the court instead of making them yourself. Let our Los Angeles estate planning attorneys help you create your plan now. No. 1: Estate … [Read more...] about Top Four Reasons to Create a Comprehensive Estate Plan
Selecting an Agent
Choosing the right Agent under a Power of Attorney is one of the most important choices. This article discusses the qualities of an ideal Agent and qualities to avoid in selecting an Agent. Read on to learn more. Selecting an Agent … [Read more...] about Selecting an Agent
Turning the Page on 2018 and Looking Forward to 2019
As we turn the page and bid farewell to 2018, we look forward to 2019. This article summarizes the major changes for 2019, both in the tax area and in other areas. Read on to learn more. Turning the Page on 2018 and Looking Forward to 2019 … [Read more...] about Turning the Page on 2018 and Looking Forward to 2019
Grantor Trusts Provide Flexibility and Ease
A trust may be taxed as either a grantor trust or a nongrantor trust. Each type of trust has advantages and disadvantages. This article examines a grantor trust and situations in which it might be useful. Grantor Trusts Provide Flexibility and Ease … [Read more...] about Grantor Trusts Provide Flexibility and Ease
Nongrantor Trusts Can Be Very Useful in Certain Situations
A trust may be taxed as either a grantor trust or a nongrantor trust. Each type of trust has advantages and disadvantages. This article examines a nongrantor trust and situations in which it might be useful. Nongrantor Trusts Can Be Very Useful in Certain Situations … [Read more...] about Nongrantor Trusts Can Be Very Useful in Certain Situations
How to Preserve Your Legacy With Estate Planning
Despite the obvious benefits, many of the wealthiest families have not taken adequate steps to protect their estates and ensure that their wealth is passed down from one generation to the next. Even families of modest wealth can reap amazing benefits from appropriate estate planning. If you are concerned with how to preserve your legacy for generations to come, let our estate planning attorneys help you to prepare now. Understanding How to Preserve Your Legacy Proper planning can certainly … [Read more...] about How to Preserve Your Legacy With Estate Planning
Proposed Regulations Address “Clawback” Issue
The Tax Cuts and Jobs Act temporarily doubled the amount which can be given free of tax. However, that amount reverts to the permanent, undoubled amount in 2026. The estate tax ordinarily includes prior taxable gifts and then applies the exclusion to the total. However, in 2026 or later, this could result in a tax on amounts which weren’t taxable when gifted. This issue is the “clawback.” New Proposed Regulations resolve this issue. Read on to learn more. Proposed Regulations Address … [Read more...] about Proposed Regulations Address “Clawback” Issue
Being Thankful and Sharing Your Blessings
Thanksgiving is a time for sharing. This article examines ways for giving effectively, both to loved ones or to charity. It examines the use of 529 plans and ABLE accounts for loved ones. It examines gifting of appreciated assets to charity and bunching charitable deductions for the most bang for the buck. Read on to learn more. Being Thankful and Sharing Your Blessings … [Read more...] about Being Thankful and Sharing Your Blessings
