Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education,American Academy of Estate Planning Attorneys, Inc.The “Secure Act” was part of a larger law that passed with (rare) bipartisan support in late-December 2019. It is effective January 1, 2020, for most purposes. This is a series of articles on the Secure Act. The first article looked at the basics of the Secure Act. This second article examines planning strategies for dealing with the Secure Act.As laid out in the … [Read more...]
The Year 2020 (Video)
With the year 2020, if you abbreviate the year by only listing the last two numbers, then you are writing 20 – which then leaves your date subject to fraud. Someone could add two extra numbers after your 20 and make a drastically different date. Watch our video as Attorney Justin M. Kennedy explains why it's vital that you list the full year when you are writing the year 2020 on all legal and financial documents.https://youtu.be/raBVIzqFx1kLitherland, Kennedy & Associates, APC, … [Read more...]
The SECURE Act and What It Means for You
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education,American Academy of Estate Planning Attorneys, Inc.The “Secure Act” was part of a larger law that passed with (rare) bipartisan support in late-December 2019. It is effective January 1, 2020, for most purposes. This is a series of articles on the Secure Act. This first article looks at the basics of the Secure Act.What does it do?The Secure Act does many things, but here are a few of the biggest changes. First … [Read more...]
Reasons an Estate Plan Could Be Challenged: Part 3 – Fraud
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education,American Academy of Estate Planning Attorneys, Inc.This week I’m sharing a blog from the office of Mike Wakshull, a forensic document examiner. I’ll be sharing blogs from Mike Wakshull in this space from time to time.Now, here’s the blog from Mike Wakshull:Blog Author: Mike Wakshull, MS, CQE, CISA, PMPYou see an unfamiliar signature on a will or trust that was allegedly signed by a deceased relative. You … [Read more...]
Reasons an Estate Plan Could Be Challenged: Part 2 – Undue Influence
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education,American Academy of Estate Planning Attorneys, Inc.Estate Planning is critical to making sure your wishes are carried out. This series focuses on how an Estate Plan could be challenged. This series will show the importance of doing Estate Planning in the right way. The first article in the series looked at formal requirements. This second article focuses on undue influence.Undue influence consists of someone … [Read more...]
Reasons an Estate Plan Could Be Challenged: Part 1 – Formal Requirements
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education,American Academy of Estate Planning Attorneys, Inc.Estate Planning is essential for many reasons, which are set forth in prior articles. Links to these articles are set forth at the end of this article. This series will focus on how an Estate Plan could be challenged. This series will show the importance of doing Estate Planning in the right way. This article will focus on the formalities of an Estate … [Read more...]
Medi-Cal Updates Key Figures for 2020
If you are going to qualify for Medicare when you reach the age of 65, and you will have resources when you retire, you may never consider the relevance of Medi-Cal. After all, this is a government health insurance program for financially needy individuals and families.This line of thinking is understandable, but Medi-Cal may in fact be quite important, because this program will pay for long-term care. Since Medicare is a health insurance program that is designed to address the health care … [Read more...]
The SECURE Act: What You Need to Know (Video)
On December 20, 2019, the President signed into law the SECURE Act, this stands for “Setting Every Community Up For Retirement Enhancement" Act. The SECURE Act greatly changes many aspects of IRA planning. Our Attorney Justin M. Kennedy discusses what our prospects and clients need to know about the new law.Watch our video on the new act so that you are aware of the changes that can be expected with regard to IRA planning. We want you to be prepared as much possible so that your estate is … [Read more...]
Tax Planning for 2020
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education,American Academy of Estate Planning Attorneys, Inc.As 2019 has drawn to a close and a new decade dawns, we need to think of…tax planning! Some years Congress tweaks the laws more than other years. This was a relatively quiet year for changes. Still, even in a quiet year, some things change due to inflation increases, etc.Estate Tax PlanningApplicable Exclusion rises from $11.4 million in 2019 to $11.58 million … [Read more...]
The Questions of Estate Planning, Part 6: Why
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education,American Academy of Estate Planning Attorneys, Inc.Estate Planning is often misunderstood. People often think it’s only for the really rich, the really old, or both. But the truth is Estate Planning is appropriate for all of us. Any of us could have a tragedy strike, even early in life. And it’s not just our death that Estate Planning considers, it’s also for our incapacity. Estate Planning can provide sophisticated … [Read more...]
