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: Simple is not Always Better
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: Simple is not Always Better
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
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
Basics of Estate Planning: Privacy and Estate Planning
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is another in a series of blogs on the basics of estate planning. From the dawn of time, humans have been concerned with privacy. In the biblical story of Adam and Eve, the couple sought the privacy provided by fig leaves as they left the Garden of Eden. When species Homo sapiens emerged, privacy was essential to protect against predators. In today’s world, … [Read more...] about Basics of Estate Planning: Privacy and Estate Planning
Basics of Estate Planning: Powers of Appointment – Part 2
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is another in a series of blogs on the basics of estate planning. The last blog examined the basics of powers of appointment. This blog will examine how they can impact taxation. From a gift and estate tax perspective, there are two kinds of powers of appointment, a limited power of appointment (or “LPOA”), and a general power of appointment (or “GPOA”). They … [Read more...] about Basics of Estate Planning: Powers of Appointment – Part 2
Basics of Estate Planning: Two Common Mistakes with Trusts
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is another in a series of blogs on the basics of estate planning. Trusts are incredibly useful tools. But, like other useful tools, they do not fit every circumstance. They must be used appropriately. For example, a hammer is an exceptional tool to use when looking to drive a nail into a wall. But, if you hit the nail with a glancing blow, the nail will bend and … [Read more...] about Basics of Estate Planning: Two Common Mistakes with Trusts
Special Needs Trusts: Two Words to Say Fairness
By: Matthew M. Shafae, Attorney Litherland, Kennedy & Associates, APC, Attorneys at Law Special Needs Trusts (also called Supplemental Needs Trusts) are specific types of trusts that allow a disabled person to be the beneficiary of a trust while not interrupting his/her eligibility to receive government assistance. Without a Special Needs Trust, persons with disabilities risk losing government benefits if they receive an inheritance, a personal injury award, or receive other funds. In 1993, … [Read more...] about Special Needs Trusts: Two Words to Say Fairness
Advantages of the Clayton Trust
By: Justin M. Kennedy, Attorney Litherland, Kennedy & Associates, APC, Attorneys at Law Prior to 2014, for married clients with estates valued at over one million dollar ($1,000,000), our office often recommended ABC Trusts. This trust structure was used to preserve the Deceased Spouse’s estate tax exemption. For much of that time, there was a one million dollar ($1,000,000) estate tax exemption. Utilizing the ABC Trust structure allowed you to double that, to be able to pass two … [Read more...] about Advantages of the Clayton Trust
