It can seem as though the utilization of a last will is the simplest and most efficient way to transfer assets. A trust can seem like something that is much more complicated. In fact, when you use a will, the heirs to the estate don't receive their inheritances until the estate has been probated. The probate court supervises the administration of the estate unless you take steps to avoid probate. There is a caveat to the above. In the state of California there are some probate shortcuts that … [Read more...] about Is Probate Always Required?
by Lois G. Tager, M.Ed., CSA and Dedra Jize, OT, CSA At the Litherland, Kennedy & Associates, APC, Attorneys at Law, our Professional Geriatric Care Managers serve the clients of Attorney Roy W. Litherland as well as those who may not require his legal services, but do need the help of a Geriatric Care Manager. We have vast knowledge regarding aging and issues affecting the elderly. Our backgrounds and experiences are varied academically, professionally, and personally … [Read more...] about The Triple A’s of Geriatric Care Managers: Assess, Advocate and Assist
It is useful to see the big picture when you are making plans for the future. When the topic of estate planning arises, people often immediately think about drawing up a last will or a trust to handle the transfer of assets to their loved ones. Without question, this is a key part of estate planning, but there are some other things to consider if you want to be comprehensively prepared for all of the eventualities of aging. Most senior citizens do not pass away after having been in good health … [Read more...] about Preparing For Possible Incapacity
On January 6, 2013, Forbes consulted with American Academy of Estate Planning Attorneys' Director of Education, Steve Hartnett, regarding the 2013 estate tax changes and the fiscal cliff. Here is a link to that Article: More Estate Tax Changes Could Follow Fiscal Cliff Deal. Mr. Hartnett is quoted several times in this Article. The American Academy of Estate Planning Attorneys is a member organization serving the needs of attorneys committed to providing their clients with the best in estate … [Read more...] about American Academy of Estate Planning Attorneys Consulted by Forbes Magazine Re: Estate Tax Changes
We would like to briefly step out of the flow of estate planning topics to ask our readership for assistance. The disaster relief efforts that are being undertaken by various charitable organizations in the wake of the hurricane are consuming a lot of resources as you might expect. If you would like to help those that are assisting fellow Americans in need, simply click this link and do what you can to contribute to the efforts: Hurricane Sandy Relief Organizations There are a number of … [Read more...] about Contribute to Hurricane Relief Efforts
Welcome to Academy Member Websites. This is your first post. Edit or delete it, then start blogging! … [Read more...] about Hello world!
Are you thinking of downsizing and not sure where to go? Are you unsure about what type of home you would like (independent living, assisted care or skilled nursing)? Are housing choice conversations taking up a lot of time with your family? I often help clients search for the perfect living situation. Following is some basic information on the different types of senior living available in our area, and some questions to ask when thinking of downsizing. Independent living is ideal for someone … [Read more...] about Seniors – Thinking of Downsizing? Some Tips to Think About
In 2001 the Economic Growth and Tax Relief Reconciliation Act (“EGTRA”) was passed which among other things repealed the Federal Estate Tax. But because of budget limitations, the repeal is for only one year, the year 2010. January 1, 2011, the estate tax comes back automatically unless the law is again changed by Congress. At the same time is made a change in the law pertaining to capital gains taxes to reflect this repeal. When the estate tax was repealed, the law was changed to provide … [Read more...] about Uncertainty About the 2010 Estate Tax Repeal