Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. Maybe you grew up without much. You worked hard. You earned a good education. You succeeded in life even though the streets weren’t paved with gold where you grew up. Maybe you even grew up in a very impoverished, oppressed community. Now you (and your spouse if you’re married) have accumulated enough so you’re comfortable. Maybe you’re not a billionaire, but you … [Read more...] about Leaving Assets Can Be Tricky
California’s Proposition 58 (VIDEO)
In this Vlog, Attorney Justin M. Kennedy discusses California's Proposition 58. Proposition 58 is a California constitutional amendment approved by the voters which excludes from reassessment transfers of real property between parents and children that has been effective since November 6, 1986. Proposition 58 is codified by section 63.1 of the Revenue and Taxation Code. Litherland, Kennedy & Associates, APC, Attorneys at Law are members of the American Academy of Estate Planning … [Read more...] about California’s Proposition 58 (VIDEO)
California’s Proposition 13 (VIDEO)
In this vlog, Attorney Justin M. Kennedy discusses California's Proposition 13. Litherland, Kennedy & Associates, APC, Attorneys at Law are members of the American Academy of Estate Planning Attorneys. If you would like to learn more about the importance of estate planning, we invite you to attend one of our free estate planning webinars. … [Read more...] about California’s Proposition 13 (VIDEO)
Five Reasons to Use a Living Trust
The most commonly held misconception about estate planning is the idea that trusts are only useful for a small percentage of people that have very complicated estate planning objectives. There are definitely trusts that are used by individuals that are in unusual situations. This being stated, the revocable living trust is an estate planning device that can be extremely useful for "the rest of us." If you have always thought that you would be using a simple will, you may change your mind … [Read more...] about Five Reasons to Use a Living Trust
Will Your Estate Plan Still Work If You Move?
Before the pandemic, Americans were more mobile than ever. When you move, you have to change your address, your voter registration, and all sorts of other things. But, do you need to revise your estate planning documents? Like with many things in law, it depends on your situation. Read on to learn more. … [Read more...] about Will Your Estate Plan Still Work If You Move?
Proactive Planning Can Prevent a Conservatorship
Estate planning attorneys often focus on elder law matters as well, because the two are inherently intertwined. Yes, it is important to state your final wishes to make sure that your financial assets are properly transferred to your family members after you are gone. At the same time, you should address potential end-of-life issues as well. With the above in mind, let’s look at one of these eventualities that a very significant percentage of seniors will face toward the end of their … [Read more...] about Proactive Planning Can Prevent a Conservatorship
A Living Trust Can Protect a Spendthrift
There are many different tools in the estate planning toolkit, so you should be aware of all of your options so that you can make the right choices. A lot of people assume that there are certain risks that must be taken, but for the most part, this is not the case at all. This dynamic can enter the picture when it comes to leaving an inheritance to a loved one that is not very good at managing money. If you leave a lump sum inheritance, the individual could burn through it very quickly, and … [Read more...] about A Living Trust Can Protect a Spendthrift
Avoid These Inheritance Planning Traps
People are routinely on high alert when it comes to the potential for mistakes that can have negative financial consequences. Strangely enough, many of the same individuals are not as careful when it comes to inheritance planning matters. In an effort to raise awareness, we will highlight a few estate planning traps that often ensnare the unwitting. Ongoing Procrastination A 2019 survey that was conducted by Caring.com underscores the widespread phenomenon of estate planning unpreparedness. … [Read more...] about Avoid These Inheritance Planning Traps
The Basics: “HIPAA” Powers
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is the third in a three-part series of articles on Powers of Attorney. The first article examined the Financial Power of Attorney. The second article examined the Healthcare Power of Attorney and Advance Directive. This third article in the series focuses on a “HIPAA” Power of Attorney. These three documents are the keystone in even the most basic estate … [Read more...] about The Basics: “HIPAA” Powers
The Basics: Powers of Attorney for Healthcare
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is the second in a three-part series of articles on Powers of Attorney. The first article examined the Financial Power of Attorney. This second article examines the Healthcare Power of Attorney and Advance Directive. The third article in the series will focus on a “HIPAA” Power of Attorney. These three documents are the keystone in even the most basic estate … [Read more...] about The Basics: Powers of Attorney for Healthcare
