by Justin M. Kennedy, Attorney at Law Litherland, Kennedy & Associates, APC, Attorneys at Law Recently I met with a client, Tammy, who wanted to immediately gift her home to her son, Eugene. Even though Tammy already had a comprehensive estate plan with our office that included a Living Trust, Tammy had talked with her friends who suggested gifting the home now was in her best interests. When I asked more questions, Tammy shared that one of her friends, Mike, had died without a Living Trust … [Read more...] about Gift Now or Let Them Inherit?
6 Important Estate Planning Considerations – Part 4: Beneficiary Designations
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is part of a series of 6 blogs on important estate planning considerations. I’ll intersperse these blogs with other timely blogs. The first article in the series showed how an estate plan prepares one for incapacity during life and not just for the distribution of assets at death. The second article in the series focused on how an estate plan should take into … [Read more...] about 6 Important Estate Planning Considerations – Part 4: Beneficiary Designations
Why Would I Want a Revocable Living Trust?
If you would like to learn more about revocable living trusts, attend one of our free living trust seminars: https://www.attorneyoffice.com/seminars/ … [Read more...] about Why Would I Want a Revocable Living Trust?
Estate Planning: The Simplest Plan is Usually Not the Best
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. Estate planning contemplates two different general time periods: During life and after your death. Estate planning needs also vary based on the goals you are trying to achieve. For example, after death, do you simply wish to transmit your assets, or do you wish to provide your loved ones with asset protection, tax protection, divorce protection, or other … [Read more...] about Estate Planning: The Simplest Plan is Usually Not the Best
Benefits of a Revocable Living Trust
Living Trusts are an excellent vehicle of asset transfer. They assist you in avoiding probate and legal quagmires, and protect your privacy. It’s important to receive solid estate planning guidance before making final decisions regarding what estate planning documents are appropriate for you, and to carefully weigh the benefits and potential drawbacks. To assist you in learning more about revocable living trusts, we invite you to attend one of our free living trust seminars. Click here to view … [Read more...] about Benefits of a Revocable Living Trust
Estate Planning – You Have Choices
You have choices when planning your estate. You are not required to utilize a last will to direct the distribution of your assets after your death. Instruments such as revocable living trusts are viable options and they are not exclusively for the wealthy. Your estate must be probated when you use a last will as your primary asset transfer vehicle. Probate comes with considerable costs. Depending on the overall value of your estate and its relative complexity, the costs associated with … [Read more...] about Estate Planning – You Have Choices
Sager Family Shows Perils of Blended Families
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. Blended families require special planning. Sometimes, the children from the prior marriage bond with the new spouse and the family moves forward in a happy, newly modified form. However, frequently, the new marriage brings conflict between the new spouse and the children of the prior marriage. Such is the case with the Sagers. In 1980, sports reporter Craig Sager … [Read more...] about Sager Family Shows Perils of Blended Families
Free Living Trust Seminars January 18, 20, 24 and 27
Helping to keep our community informed is important to us. We regularly get out into the community to provide helpful information to people here in the greater Bay Area. To this end, we present an ongoing series of informational workshops covering various elder care and estate planning topics. Our workshops and seminars are free of charge and open to the public. During the next two weeks, we will be offering seminars that focus on living trusts. Why Consider a Living Trust? Some people … [Read more...] about Free Living Trust Seminars January 18, 20, 24 and 27
Sorting Through the Taxes That May Impact Your Estate Plan
By: Matthew M. Shafae, AttorneyLitherland, Kennedy & Associates, APC, Attorneys at Law The “T-word” usually makes our eyes glaze over and we picture an overworked accountant wearing a green eyeshade crunching a bunch of numbers for us every April. Well, unfortunately, I can’t make them go away, but I can attempt to explain how taxes may impact your estate planning. Within the context of your estate plan, there are typically three main taxes that are relevant: the estate tax, … [Read more...] about Sorting Through the Taxes That May Impact Your Estate Plan
Three Benefits of a Living Trust
There are a number of legal devices that are used in the field of estate planning. Depending on your unique circumstances, various different courses of action may be appropriate. Many people assume that they should use a last will to direct future asset transfers, but in fact a revocable living trust may be a better alternative. You may have heard about the numerous benefits of living trusts. In this blog post, we will address three of those benefits. Avoiding Probate One of the … [Read more...] about Three Benefits of a Living Trust
