Many factors go into retirement decisions. This article examines many of those factors, such as where to retire, access to healthcare, income taxation, estate taxation, property taxation, etc. This article includes many links to helpful lists. Retirement is Complicated … [Read more...] about Retirement is Complicated
BLOG
Estate Planning: Simple is not Always Better
Clients often want the simplest estate planning solution possible. While keeping it simple is an understandable goal, the simplest solutions are not often the best. This article shows a couple simple solutions for estate planning and why, in most circumstances, a living trust is at the center of a more robust estate plan and more likely to provide the desired protections. Estate Planning: Simple is not Always Better … [Read more...] about Estate Planning: Simple is not Always Better
Estate Planning: The Simplest Plan is Usually Not the Best
Clients often want the simplest estate planning solution possible. However, the simplest solution is doing nothing. Usually, doing nothing does not result in the desired outcome. Estate Planning: The Simplest Plan is Usually Not the Best … [Read more...] about Estate Planning: The Simplest Plan is Usually Not the Best
Probate Lawyers Can Debunk the Myths
There are many misconceptions regarding probate that cause clients to initiate estate planning with the wrong goals in mind. The focus of your estate plan should be preserving your estate for your family in order to protect their future. Probate processes in each state may be different, so you need to understand the process where you live. This article will attempt to dispel some of the most common myths about probate lawyers are faced with. “The process of probate can take years to … [Read more...] about Probate Lawyers Can Debunk the Myths
How to Handle an Unethical Eviction from a Nursing Home
Nursing home care can be very expensive. Many private health insurance policies don't cover these long-term care services. For California residents who need long-term care, Medi-Cal is the most common source of funding. In fact, Medi-Cal covers nursing home care expenses of nearly 65% of Californians residing in nursing homes. However, applying for and receiving assistance from Medi-Cal takes planning. Getting your parents prepared for the potential need for long-term health care, nursing home … [Read more...] about How to Handle an Unethical Eviction from a Nursing Home
Understanding the Uniform Transfers to Minors Act
A common misconception that clients often have is that a child can directly inherit property. Until an individual reaches the age of majority, which in California is 18, that person cannot inherit property in their own name. Instead, an adult must be appointed as the custodian of the property and manage it until the child reaches the age of majority and can be responsible for the property themselves. Our Los Angeles estate planning lawyers can answer your questions about estate planning for … [Read more...] about Understanding the Uniform Transfers to Minors Act
How Does the Sole Benefit Rule Affect Trust Administration?
Trust administration can be a very challenging responsibility, particularly when a special needs trust is involved. Some of the rules that apply to a special needs trust can be both complex and bewildering. One of the most important considerations with administering a first-party special needs trust is the beneficiary designation. With these particular types of trust, the sole benefit rule can have very important consequences. Depending on the beneficiary designation, needs-based benefits could … [Read more...] about How Does the Sole Benefit Rule Affect Trust Administration?
New Tax Law May Affect State Income Tax, Too!
The new tax law has many impacts on state income taxes in 2018. The law limits the deductibility of state income taxes for federal purposes. It also raises the federal standard deduction amount. However, taxpayers should consider the impact on their state income tax of the decisions they make to minimize their federal taxes. This article examines why. New Tax Law May Affect State Income Tax, Too! … [Read more...] about New Tax Law May Affect State Income Tax, Too!
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 article to learn more about how donor advised funds are a great tool for charitable giving. Donor Advised Funds: IRS Issues New Ruling … [Read more...] about Donor Advised Funds: IRS Issues New Ruling
Planning for Retirement Plans and IRAs: Asset Protection
Perhaps the largest part of most Americans’ wealth is in their qualified plan or IRA. Planning for these assets is one of the most important parts of the estate plan, for many reasons. This article will discuss the asset protection of such plans and how a trust may be used to provide asset protection. Planning for Retirement Plans and IRAs: Asset Protection … [Read more...] about Planning for Retirement Plans and IRAs: Asset Protection
