Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. An Estate Plan includes various different moving parts. The Revocable Trust may be the keystone of the plan, but it’s important to consider how the other parts of the plan will work with…or against…the plan. Let’s look at a simple example. John had three children and he wished to leave his assets to them equally. He had $6 million in various assets. John hired an … [Read more...] about It’s Important to Have a Coordinated Estate Plan
LGBTQ+ Estate Planning Frequently Asked Questions (VIDEO)
In this video, Attorney Maggie A. LaBranch-Gonzales answers LGBTQ+ frequently asked estate planning questions. … [Read more...] about LGBTQ+ Estate Planning Frequently Asked Questions (VIDEO)
What Assets Should You Fund Into a Living Trust? (Video)
In this video, Attorney Maggie LaBranch-Gonzales discusses what assets you should (and should not) fund into a Living Trust. To view Maggie's video on the Importance of Funding Your Trust, click on this link. 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 seminars. … [Read more...] about What Assets Should You Fund Into a Living Trust? (Video)
Senior Living Communities (Video)
In this video, Geriatric Care Manager Dedra Jize, OT., CSA discusses the different types of Senior Living Communities. 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 seminars. … [Read more...] about Senior Living Communities (Video)
The Importance of Funding (Video)
In this video, Attorney Maggie LaBranch-Gonzales defines what funding is, what assets you should fund into your living trust, and why you, more than anyone else, determine the effectiveness of your trust. 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 seminars. … [Read more...] about The Importance of Funding (Video)
Estate Planning: Make Today the Day
Studies are conducted periodically to gain an understanding of the estate planning preparedness of adults in the United States. Unfortunately, the results are never encouraging. Most people that are over 65 have a will or some other estate planning document, but a significant percentage of people in this age group do not. The vast majority of Americans that are under the age of 40 are completely unprepared. If you are a young adult and you are single, you should have a will or a trust, but … [Read more...] about Estate Planning: Make Today the Day
COVID-19 aka the Coronavirus: A Reminder to be Prepared
by Attorney Maggie A. LaBranch-Gonzales Litherland, Kennedy & Associates, APC, Attorneys at Law If you’ve heard me speak in our seminars or workshops, or you’ve had the pleasure of meeting with me at the office, I can imagine you hearing my voice right now (kindly) reminding you that we all die. (Way to be blunt, right, Maggie?) But, seriously, for me, the most important part of Estate Planning is not necessarily what happens when you’ve passed away, but whether you are adequately … [Read more...] about COVID-19 aka the Coronavirus: A Reminder to be Prepared
Making Trusts More Flexible
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. In the past, trusts often were drafted with little flexibility. Now, more and more, trusts tend to be drafted with more flexibility and there are even ways to change “irrevocable” trusts. This is the first of a three-part series. This first part examines ways of building flexibility into a trust. The second part examines using Trust Protectors to add flexibility to a … [Read more...] about Making Trusts More Flexible
Planning is Critical
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. Sometimes people seem to think that if they don’t plan for death, it just won’t happen. In fact, 58% of American adults have no will, no trust, and no estate plan at all, according to a recent study by Caring.com. Unfortunately, whether you plan for it or not, death is inevitable. If you have no plan, your state of residence has a plan for you, it’s called … [Read more...] about Planning is Critical
When You Love Your New Spouse, But You Love Your Kids More
Whether You Should Disinherit Your New Spouse and How California Law Protects Your Omitted Surviving Spouse by Magdalena A. LaBranch-Gonzales Litherland, Kennedy & Associates, APC, Attorneys at Law What happens if you marry your spouse after you created your estate plan but they are not mentioned in your plan when you die? California considers that person an “omitted spouse.”[i] An “omitted spouse” is a spouse who married the decedent after the estate plan was already created but … [Read more...] about When You Love Your New Spouse, But You Love Your Kids More
