Is Probate Always Necessary? from Roy W. Litherland When an estate passes through probate, the court supervises its administration. Learn more about probate in campbell california in this presentation. … [Read more...] about Is Probate Always Necessary?
Is Probate Always Necessary?
Is Probate Always Necessary? from Roy W. Litherland When an estate passes through probate, the court supervises its administration. Learn more about probate in campbell california in this presentation. … [Read more...] about Is Probate Always Necessary?
Is There a National Organization of Elder Care Attorneys?
Elder care is a particularly important area of specialization at the present time, because an unprecedented number of Americans are attaining senior citizen status. The baby boomer generation is reaching the age of retirement, and this is having a big impact. Elder law or elder care attorneys help people who are concerned about the eventualities of aging. You should certainly discuss everything with a licensed attorney if you want to be optimally prepared for the future. There are a number of … [Read more...] about Is There a National Organization of Elder Care Attorneys?
What Is the Uniform Probate Code?
Back in the 1960s, forces within the legal establishment determined that the process of probate should be simplified and streamlined. Each state was using a different probate code, and interested parties wanted to see uniformity among the states. In 1964, the National Conference of Commissioners on Uniform State Laws worked in conjunction with the American Bar Association to draft a Uniform Probate Code. It took them quite a bit of time to put the code together, but the final version was … [Read more...] about What Is the Uniform Probate Code?
Can Estate Tax Laws Change?
Wealth preservation is a serious consideration for high net worth individuals. Reaching your goals is only part of the equation. There are forces of asset erosion out there that can significantly reduce the financial legacy that you are leaving behind for the benefit of succeeding generations. Taxation There is a federal estate tax in place, and it carries a very hefty 40 percent maximum rate. At the time of this writing in 2014, the estate tax credit or exclusion is $5.34 million. If the … [Read more...] about Can Estate Tax Laws Change?
Is There a Medi-Cal Asset Limit in San Jose California?
Is There a Medi-cal Asset Limit in San Jose California? from Roy W. Litherland Medicare is a government health insurance program most people will qualify for Medicare coverage when they reach the age of 65. Learn more about medi-cal asset limit in san jose california in this presentation. … [Read more...] about Is There a Medi-Cal Asset Limit in San Jose California?
What Is a Totten Trust?
Sometimes legal documents are referred to by multiple different names. This can be confusing, and we try to clear things up on this blog. With this in mind, we will look at the Totten trust in this post. Transferring Assets When you hear about a trust in an estate planning context, you may assume that the device is going to be very complicated. This is why many people who are not fully informed turn away from viable solutions. There is a type of trust called a Totten trust that is actually … [Read more...] about What Is a Totten Trust?
When Does a Trust Terminate?
A trust can be a very useful estate planning tool. There are a number of different types of trusts that can accomplish varying objectives. Sometimes people assume that trusts are only useful for very wealthy people, and it is true that high net worth individuals can benefit from the creation of certain types of trusts. There is a federal estate tax, and it carries a $5.34 million credit or exclusion in 2014. This is the amount you could transfer to people other than your spouse tax-free. … [Read more...] about When Does a Trust Terminate?
What’s the Difference Between SSDI and SSI?
There are many different acronyms that come into play when you are looking into estate planning and elder law topics. SSDI and SSI are two of them. Because they are so similar, some people think that there is no difference. In fact, there are some significant differences. SSDI The acronym SSDI stands for Social Security Disability Insurance. When you are working and paying taxes, you are paying into the Social Security program. This program is in place to provide senior citizens with income … [Read more...] about What’s the Difference Between SSDI and SSI?
Why Do I Need a Power of Attorney?
A power of attorney is a legally binding document. If you are creating a power of attorney, you are referred to as the principal or the grantor of the device. As the grantor, you name an agent or attorney-in-fact. When you create a power of attorney, you are giving the agent the power to act on your behalf in a legally binding fashion. You can decide on the extent of the power that you want to give to the agent. There are general powers of attorney, and limited powers of attorney. With a … [Read more...] about Why Do I Need a Power of Attorney?
