In recognition of International Day of Friendship on July 30, this is a good time to consider how the presence or absence of vibrant social relationships affects well-being. Amid the many challenges of aging, one aspect of seniors’ lifestyles shapes nearly every other dimension of their lives. This essential aspect is simple: social interaction. An older adult’s involvement in social relationships and frequent face-to-face contact with others leads to better physical health, … [Read more...] about CRUCIAL CONNECTIONS – Social Ties Support Seniors’ Quality of Life
Avoiding an Audit
The Internal Revenue Service recently released its Strategic Operating Plan. In that plan, the Service indicated that it planned to conduct more audits, especially on the wealthiest taxpayers. Hearing that you are facing an audit is enough to strike fear into even the most stoic of individuals. No one is immune from audit; however, taxpayers following certain steps are less likely to be audited than those who don’t. Read on to learn more. … [Read more...] about Avoiding an Audit
What Independence Day Teaches Us About Estate Planning
The 4th of July reminds people of the flag, freedom, and fireworks! As our nation’s birthday approaches, we should reflect upon what freedom means to us. Creating an Estate Plan provides a level of individual freedom – a peace of mind regarding your family’s well-being and the legacy that you leave for them once you are gone. Read on to learn more. … [Read more...] about What Independence Day Teaches Us About Estate Planning
Courts Allowing More Flexible Trust Amendments
As much as I enjoy writing about celebrity Estate Planning gone wrong, and less often, right, occasionally, a court opinion catches my attention. That’s particularly true when the decision will have lasting implications for Estate Planning. This blog returns to the basic lessons about amending a Trust. In an increasingly litigious world, disgruntled beneficiaries feel emboldened to fight for what they think is theirs. It doesn’t always work out in their favor, especially when they base their … [Read more...] about Courts Allowing More Flexible Trust Amendments
Is There a California Estate Tax?
A lot of people have questions about the taxes that enter the picture when someone dies. In this post, we will provide some answers to estate tax questions, starting with the California estate tax myth. State-Level Estate Taxes You may have heard about the families of high-profile celebrities who lived in California facing estate tax responsibility. This can lead to the assumption that there is a California estate tax, but this is simply untrue. There are 12 states in the union that have … [Read more...] about Is There a California Estate Tax?
What You Should Know About Conditional Gifts
Grantors like the idea of placing conditions upon a gift. In many ways, it’s the final opportunity to exert control or influence on the beneficiary. Most courts try to uphold the conditions as long as they are not void as against public policy or otherwise illegal or immoral. This article explores what happens when a Trustee fails to strictly enforce the conditions placed upon a bequest. Read on to learn more. … [Read more...] about What You Should Know About Conditional Gifts
Litherland, Kennedy & Associates Attend Exclusive Legal Conference in Minneapolis
Silicon Valley estate planning and elder care law firm Litherland, Kennedy & Associates attended one of the nation’s leading legal education conferences in Minneapolis, MI from May 2 to May 5. The American Academy of Estate Planning Attorneys hosted their 31st annual Spring Summit which included top estate planning law firms from around the country. The American Academy is committed to helping its Member attorneys innovate the way they approach their law practice. The conference focused … [Read more...] about Litherland, Kennedy & Associates Attend Exclusive Legal Conference in Minneapolis
The “Juice” and an Executor’s Duties
Certain individuals have a knack for making headlines. Orenthal James Simpson was one of those people. He first made headlines for his talent on the football field. Later, he made them as an actor and broadcaster. In 1994, he made headlines when he was arrested for the murder of his former wife, Nicole Brown Simpson, and her friend, Ronald Goldman. Orenthal James Simpson died on April 10, 2024, and with his death, his presumed Executor made headlines, perhaps for the last time for the “Juice.” … [Read more...] about The “Juice” and an Executor’s Duties
Meet Attorney Srushti Shah Chauhan
A Heart for Families When a family loses a loved one, the process of grieving can be a long and difficult one. There are also numerous details that need to be addressed when it comes to taking care of the deceased person’s belongings, outstanding bills, final tax returns, and figuring out what work needs to be done to settle their estate. As the lead Trust Administration attorney for our firm, Srushti Shah Chauhan is ready to help guide families through the process of administering the … [Read more...] about Meet Attorney Srushti Shah Chauhan
What Taylor Swift Can Teach Us About Estate Planning
Regardless of your feelings about her music, her attendance at National Football League games, or anything else related to the popstar, it’s hard to argue that Taylor Swift isn’t a cultural phenomenon. In 2023, Taylor launched a multi-city tour that broke records for attendance, sales, merchandising, and gross revenue; the Federal Reserve credited her with boosting the country’s economy; and Time magazine named her Person of the Year. While interesting, these statistics only tell part of the … [Read more...] about What Taylor Swift Can Teach Us About Estate Planning
