Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is another in a series of blogs on the basics of estate planning. Often, an individual wants to make a gift to charity. They don’t want something complicated, but they want to get the most bang for their buck. Estate planning attorneys and other financial professionals know the client could just contribute cash to the charity. Certainly, that would be fine with … [Read more...] about Basics of Estate Planning: Getting the Most out of Charitable Gifts
Estate Planning
Basics of Estate Planning: Two Common Mistakes with Trusts
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is another in a series of blogs on the basics of estate planning. Trusts are incredibly useful tools. But, like other useful tools, they do not fit every circumstance. They must be used appropriately. For example, a hammer is an exceptional tool to use when looking to drive a nail into a wall. But, if you hit the nail with a glancing blow, the nail will bend and … [Read more...] about Basics of Estate Planning: Two Common Mistakes with Trusts
Basics of Estate Planning: Choosing a Roth or Traditional IRA (or 401k)
Roth and Traditional accounts each have their merits. This blog examines the differences between the two. Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is another in a series of blogs on the basics of estate planning. In this blog, we’ll look at the differences between a Roth and a traditional IRA (or 401k). We’ll also look at considerations in choosing between them. With a traditional IRA (or … [Read more...] about Basics of Estate Planning: Choosing a Roth or Traditional IRA (or 401k)
Basics of Estate Planning: Advising Clients on Selecting Fiduciaries
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is another in a series of blogs on the basics of estate planning. Often, one of the most difficult choices for a client to make is the selection of people to make decisions for them. These fiduciaries may have great control over the client’s affairs, typically at times when the client would be most vulnerable or already gone. Let’s take a look at the … [Read more...] about Basics of Estate Planning: Advising Clients on Selecting Fiduciaries
Basics of Estate Planning: Asset Protection
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is another in a series of blogs on the basics of estate planning. This week, we’ll take a look at asset protection. Much depends upon whose assets you are looking to protect. If the assets are those that are coming to you, the debtor, then typically, those can be protected completely. The debtor could protect their own assets in three general ways: 1) … [Read more...] about Basics of Estate Planning: Asset Protection
Basics of Estate Planning: Estate Planning for Major Life Events
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is another in a series of blogs on the basics of estate planning. Estate planning attorneys do many things. We help people structure their affairs for the various stages of their lives. When the client is starting out, we may help them establish a basic plan. This might include: A Financial General Durable Power of Attorney. This would allow … [Read more...] about Basics of Estate Planning: Estate Planning for Major Life Events
Distinguishing Between Community and Separate Property in Your Estate Plan
When it comes to estate planning, our Orange County estate planning attorneys will tell you that the nature of your property is very important. This is especially true in Orange County and all of California, which is a community-property state. Understanding how community property ownership affects your estate plan is crucial. Here is what you need to know. What is community property? California, along with eight other states, is a community-property state. What that means is any property … [Read more...] about Distinguishing Between Community and Separate Property in Your Estate Plan
Including Veterans Pension Benefits in Your Retirement Planning
Veterans who are working on their retirement plan should always consider the various types of financial support they may receive during their lifetime. The two most common types of financial benefits available for veterans are pension benefits and compensation benefits. In this post, our Los Alamitos veterans pension benefits lawyer will discuss the basics regarding veterans pension benefits. How are compensation and pension benefits for veterans different? When it comes time to plan for … [Read more...] about Including Veterans Pension Benefits in Your Retirement Planning
How Does My Debt Affect My Estate Planning?
Once the executor provides notice of the death to creditors, those with debts owed by the estate must submit a claim. If the debts are determined to be valid, they will be paid from the estate by the executor before any other distributions can be made. This would include bills and funeral expenses. California requires creditors to submit their claims within 4 months of the appointment of the executor. So, many clients wonder what role their debts will plan in their overall estate plan. Let … [Read more...] about How Does My Debt Affect My Estate Planning?
Anniversary of Shark Attack Reiterates Need for Orange County Estate Planning
A year ago, triathlete Maria Korcsmaros of Corona was attacked by a 9-foot great white shark, only 150 yards off the coast of Corona del Mar State Beach. On this one-year anniversary, Korcsmaros returned to the beach, along with one of the lifeguards who was responsible for saving her life on that fateful day. Though her scars are fading, the fact remains that she barely escaped death. This horrible twist of fate should remind us all that Orange County estate planning must never be … [Read more...] about Anniversary of Shark Attack Reiterates Need for Orange County Estate Planning
