Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is the first in a two-part series on Roth IRAs. This first part will look at the basics of Roth IRAs. The second part will look at more advanced planning strategies. An Individual Retirement Account (IRA) is a savings vehicle in which a deduction may be taken upon contribution (with limitations). The maximum contribution in 2021 is $6,000, and those age 50 and … [Read more...] about Roth IRAs Can Be a Great Planning Strategy: Basics
Estate Planning Reduces Stress During High Anxiety Times
Blog Author: Tereina Stidd, J.D., LL.M. (Tax), Associate Director of Education, American Academy of Estate Planning Attorneys, Inc. Everyone who lived through September 11, 2001, shares a common experience. Although colored by our individual circumstances, we remember looking at the horrific images of destruction and misery and wondering why this tragedy occurred. Since that fateful day, Americans have flocked to churches, synagogues, mosques, and other places of worship seeking answers to … [Read more...] about Estate Planning Reduces Stress During High Anxiety Times
Assisted Living: What is It, and is It Right for You?
by Dedra Jize, OT., CSA Geriatric Care Manager, Litherland, Kennedy & Associates, APC, Attorneys at Law September 12th through 18th marked National Assisted Living Week. Does Hallmark make a card for that? I doubt it but it does give us a moment to pause and think about it. First, what is Assisted Living? It’s a home or community that provides 24-hour supervision and additional daily support with things like dressing, showering, toileting and medication management along with all that … [Read more...] about Assisted Living: What is It, and is It Right for You?
Taxation of Nongrantor Trusts
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is the final article in a three-part series on the taxation of trusts. The first part reviewed how a trust can be “substantially owned” by someone, i.e., what is commonly known among Estate Planning or Trusts & Estates attorneys as a “grantor trust.” It also looked at the advantages of using a grantor trust. Here is a link to the first article in the series. … [Read more...] about Taxation of Nongrantor Trusts
Is Your Married Joint Living Trust Too Complicated? (VIDEO)
In this vlog, Litherland, Kennedy & Associates Attorney Maggie A. LaBranch-Gonzales discusses the structure of married joint living trusts and why you should review your plan, especially if it was created prior to 2017. … [Read more...] about Is Your Married Joint Living Trust Too Complicated? (VIDEO)
Tax Reporting with Trusts
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 on the taxation of trusts. The first part reviewed how a trust can be “substantially owned” by someone, i.e., what is commonly known among Estate Planning or Trusts & Estates attorneys as a “grantor trust.” It also looked at the advantages of using a grantor trust. Here is a link to the first article in the series. This … [Read more...] about Tax Reporting with Trusts
Litherland, Kennedy & Associates Law Firm Team Joins 2021 Walk to End Alzheimer’s
2021 Walk to End Alzheimer's - San Francisco, CA Saturday, November 6, 2021 Alzheimer’s disease is relentless. So are we. Alzheimer's disease touches so many people; It affects our clients, our family members and our friends. It can feel lonely and isolating to be facing it, or to be supporting someone who has been diagnosed with it. But we're not alone. Our office is walking for all of our clients, our family members, and our friends who have been affected by this unforgiving … [Read more...] about Litherland, Kennedy & Associates Law Firm Team Joins 2021 Walk to End Alzheimer’s
Advantages of Using a “Grantor Trust” in Planning
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is the first in a three-part series on the taxation of trusts. The first part reviews how a trust can be “substantially owned” by someone, i.e., what is commonly known among Estate Planning or Trusts & Estates attorneys as a “grantor trust.” It will also look at the advantages of using a grantor trust. The second article in the series will examine the … [Read more...] about Advantages of Using a “Grantor Trust” in Planning
Happy Grandparents Day
by Dedra Jize, OT., CSA Geriatric Care Manager, Litherland, Kennedy & Associates, APC, Attorneys at Law Happy Grandparents Day! Although I think that grandparents should be celebrated every day, it was decided to be the first Sunday after Labor Day back in 1978. For those who are grandparents…congratulations. For those who are grandparents, but the grandchildren live far away, read on. Or maybe you are young and single, or middle age and no children or perhaps this topic brings … [Read more...] about Happy Grandparents Day
Dangers of Do-It-Yourself Estate Planning
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. Occasionally, those who aren’t Estate Planning attorneys will attempt to do their own Estate Planning. They think they can find a document online or use a friend’s document and can figure it out. Unfortunately, there are many pitfalls one could run across. Let’s look at three of these pitfalls which one must sidestep. Bill and Mary had a house worth $500,000, an … [Read more...] about Dangers of Do-It-Yourself Estate Planning
