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
It’s Important to Have a Coordinated Estate Plan
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
Trust Administration Frequently Asked Questions (FAQs)
What is a Trust Administration? When a Trustor dies, the state of California requires that the Trustee of the Trust take some actions. The extent of these actions depends upon whether the Trust becomes irrevocable at the death of the Trustor or if the Trust provides specific actions for the Trustee to take upon the death. We recommend that upon a death of a Trustor, the Trustee schedule a meeting with an attorney within the first month to discuss the legal requirements upon death and what … [Read more...] about Trust Administration Frequently Asked Questions (FAQs)
Attorneys Justin M. Kennedy and Maggie A. LaBranch-Gonzales Selected as 2021 California Rising Stars
Attorneys Justin M. Kennedy and Maggie A. LaBranch-Gonzales have been selected to the 2021 California Rising Stars list. This is an exclusive list, recognizing no more than 2.5 percent of the lawyers in the state. This is the 3rd year that Justin and Maggie have received this honor. Super Lawyers, part of Thomson Reuters, is a rating service of outstanding lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement. The annual … [Read more...] about Attorneys Justin M. Kennedy and Maggie A. LaBranch-Gonzales Selected as 2021 California Rising Stars
Estate Planning Conference Discusses “For the 99.5% Act,” SECURE, and More
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. The Heckerling conference in Estate Planning is the country’s largest professional gathering in Estate Planning. The conference examines many areas of interest to Estate Planning and Elder Law professionals. It pays particular attention to items of current interest. Last year’s conference was in January 2020, shortly before the beginning of the COVID-19 pandemic. … [Read more...] about Estate Planning Conference Discusses “For the 99.5% Act,” SECURE, and More
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)
Why Should You Hire an Estate Planning Attorney to Prepare Your Estate Plan? (VIDEO)
In this Vlog, Attorney Maggie A. LaBranch-Gonzales discusses the importance and advantages of hiring an estate planning attorney to prepare your estate plan. … [Read more...] about Why Should You Hire an Estate Planning Attorney to Prepare Your Estate Plan? (VIDEO)
Thank You for Helping to Make Our First Annual Community Shred Event Benefitting the Alzheimer’s Association a Success!
Thank you to everyone who participated in our 1st Annual Community Shred Event! We received donations of $1,305 to benefit the Alzheimer's Association and LKA is contributing an additional $195 to make the total donation to the Alzheimer's Association $1,500! … [Read more...] about Thank You for Helping to Make Our First Annual Community Shred Event Benefitting the Alzheimer’s Association a Success!
