Recent Posts in Estate Planning Category
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Posted on Jan 11, 2012 By Los Angeles Estate Planning Attorney
In a Family Limited Partnership there are two types of partners that are involved. These are General Partners and Limited Partners. The General Partners are the ones who actually control the ...
Continue reading "Types of Family Limited Partnerships" »
Posted on Jan 9, 2012 By Los Angeles Estate Planning Attorney
If you are looking for a way to create a limited partnership in order to transfer asset ownership to members of your family without a mountain of tax consequences, a Family Limited Partnership may be ...
Continue reading "Family Limited Partnership" »
Posted on Jan 3, 2012 By Los Angeles Estate Planning Attorney
Welcome to the year 2012! A brand new year with brand new possibilities. And perhaps some brand new property assets? If you are one of the fortunate ones that had a stellar 2011 and have acquired a ...
Continue reading "New Year. New Assets?" »
Posted on Dec 27, 2011 By Los Angeles Estate Planning Attorney
At a glance, online legal form providers may seem like a cheaper alternative way to go for 'do-it-yourself' estate planning. After all, the commercials on radio and television make it seem ...
Continue reading "DIY Estate Planning Is No Substitute for The Real Thing" »
Posted on Dec 26, 2011 By Los Angeles Estate Planning Attorney
While custodial accounts are very similar to trusts, the point of a custodial account is to allow you to transfer property to minor beneficiaries without having to establish a trust. They work in the ...
Continue reading "Custodial Accounts vs. Trusts" »
Posted on Dec 23, 2011 By Los Angeles Estate Planning Attorney
If you want to leave and inheritance to a minor beneficiary, and the amount of that inheritance is not too substantial, a good idea would be to leave the assets in a restricted account. This way you ...
Continue reading "Inheritance To Minors - Restricted Accounts" »
Posted on Dec 15, 2011 By Los Angeles Estate Planning Attorney
In previous posts we discussed types of payments that will qualify for tax exemptions, such as the unlimited education gift exclusion. Another one of these such unlimited exclusions would be payments ...
Continue reading "Unlimited Gift Exclusion for Medical Expenses" »
Posted on Dec 14, 2011 By Los Angeles Estate Planning Attorney
In addition to the annual exclusion gift there are two types of unlimited gifts. These will not count against the annual gift tax exclusion. The first of these unlimited types of gifts would be any ...
Continue reading "Unlimited Gift Exclusion for Education" »
Posted on Dec 13, 2011 By Los Angeles Estate Planning Attorney
Now that all the Thanksgiving leftovers have been eaten and the madness of Christmas shopping has begun, it means that the end of 2011 is fast approaching upon us. However, between the shopping and ...
Continue reading "Annual Exclusion Gift for Year End Estate Planning" »
Posted on Dec 9, 2011 By Los Angeles Estate Planning Attorney
Even if you've already gone through the process of setting up your estate plan, you should always feel free to give your estate planner a call when there are some additional questions or concerns ...
Continue reading "Do Not Hesitate To Call Your Estate Planning Attorney" »
Posted on Nov 18, 2011 By Los Angeles Estate Planning Attorney
Liliane Bettencourt, the heiress to the L'Oreal cosmetics fortune, has recently been found to be mentally incapable of managing her affairs by a French judge. This decision now grants control of ...
Continue reading "World's 2nd Richest Woman Placed Under Guardianship" »
Posted on Nov 15, 2011 By Los Angeles Estate Planning Attorney
Autumn brings about a lot of changes to the surrounding natural environment. One could not be hard pressed to stop and scan the horizon to view these colorful changes. But have you taken the time to ...
Continue reading "Has Your Estate Changed With The Leaves?" »
Posted on Nov 9, 2011 By Los Angeles Estate Planning Attorney
Often times we view the courts and the government as entities that are there to help us in our times of need. However, that may be a false sense of security when it comes to estate affairs. Claims of ...
Continue reading "Estate Abuses By Gov. Officials" »
Posted on Oct 27, 2011 By Los Angeles Estate Planning Attorney
So, what will become of Steve Job's estimated $7 BILLION estate? Many people are well aware of his stake in Apple, but many might not have known that Jobs had a big bite out of Disney as well. He ...
Continue reading "What Will Happen to Steve Jobs' Slice of Apple?" »
Posted on Oct 20, 2011 By Los Angeles Estate Planning Attorney
Is today that big day? Is today the day your child becomes *gasp* an adult? You might have been thinking of the perfect gift to give your child once they turn 18. Perhaps a vacation or a brand new ...
Continue reading "Has Your Child Become A Legal Adult?" »
Posted on Oct 6, 2011 By Los Angeles Estate Planning Attorney
Many people without a proper estate plan may decide to hold their assets in joint ownership. Very commonly these would be things like bank accounts and property that are owned jointly by husband and ...
Continue reading "Pitfalls of Joint Ownership with Your Children" »
Posted on Sep 29, 2011 By Los Angeles Estate Planning Attorney
I want you to take a moment at look at the space surrounding you.. Did you just let out an enormous sigh that almost blew your computer off the desk? Let's be honest, no matter how organized we ...
Continue reading "Creating a List of Key Estate Contacts" »
Posted on Aug 30, 2011 By Los Angeles Estate Planning Attorney
In the 1970's California voters passed a law called Prop. 13. This law limits the amount of property tax that can be assessed on real property until a new owner takes control of the property. When ...
Continue reading "Tax Benefits of Passing Property to Your Child in California" »
Posted on Aug 29, 2011 By Los Angeles Estate Planning Attorney
You may hear a lot about celebrities and their troubles with alcohol and drugs. But sometimes even though they may be struggling with decisions they have made in their personal lives, they've done ...
Continue reading "James Brown Estate Battle Still Wages On" »
Posted on Aug 23, 2011 By Los Angeles Estate Planning Attorney
In these modern times a lot of couples are deciding to forego the traditional marriage route and opt out for a declaration of love and just decide to live together until death (or infidelity) do they ...
Continue reading "Estate Planning for Unmarried Couples" »
Posted on Aug 22, 2011 By Los Angeles Estate Planning Attorney
The end of summer is nearing. And it's getting close to that time again when the kids are going back to school. Distressing for them, but a relief for you! A lot of planning goes into getting them ...
Continue reading "Back To School: Estate Planning" »
Posted on Aug 16, 2011 By Los Angeles Estate Planning Attorney
These days the stock market has become a wild rollercoaster. One day it's way down and the next it's way up. Nobody can accurately predict what the markets are going to be like day to day, but ...
Continue reading "Diversify Stocks Held in Trust" »
Posted on Aug 15, 2011 By Los Angeles Estate Planning Attorney
Maybe you started your life out with very little, you worked very hard your whole life, and obtained a sufficient amount of wealth. And now you'd like to give some of that wealth back to charity ...
Continue reading "Can I Leave Money To Charity When I Die?" »
Posted on Aug 11, 2011 By Los Angeles Estate Planning Attorney
When your loved one passes away without designating a beneficiary for their life insurance policy or the beneficiaries preceded them in death, what happens now? If the decedent had not completed a ...
Continue reading "What Happens to Life Insurance Proceeds Without a Designated Beneficiary?" »
Posted on Aug 10, 2011 By Los Angeles Estate Planning Attorney
When your loved one passes away, and leaves a life insurance policy behind, you will have to determine whether or not that policy must be used to pay off the decedent's debts. The easiest way to ...
Continue reading "What Happens to Life Insurance Proceeds With a Designated Beneficiary?" »
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