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Category Archives: Law
Repeal of Federal Estate Tax?
Donald Trump is on record as favoring the repeal of the federal estate tax. With Republicans controlling the executive, legislative and judicial branches of the federal government, will repeal actually happen? Democrats will filibuster such legislation in the Senate, and … Continue reading
Posted in Death tax, Estate Planning, Law, Trump, Trusts, Uncategorized, wills
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Misconceptions about Financial Powers of Attorney- Each of the following statements is false
1. Financial powers of attorney allow your agent to act when you want him or her to act, but they prevent your agent from acting when you don’t want him or her to act. 2. If your bank or broker … Continue reading
Posted in Estate Planning, Law, POA, special needs, Uncategorized
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New IRS Form 8971
On the later of March 31, 2016 or 30 days after the filing of an estate tax return (form 706), for 706s filed after July 31, 2015, the filer is also required to file form 8971 with the IRS and … Continue reading
Posted in Estate Planning, Law, Super Lawyer, taxes, Trusts, Uncategorized, wills
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Making Sure Your Title Insurance Policy Will Be In Force When You Need It
When real estate is purchased, the buyer typically also buys a title insurance policy. When the buyer later sells, if there is a problem with title to the property, the title insurance company is obligated to take care of it. … Continue reading
Posted in Estate Planning, Law, special needs, Super Lawyer, taxes, title, title insurance, Trusts, Uncategorized, wills
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Homestead
Some people have recorded a document entitled homestead indicating that they want a certain dollar amount of the value of their principal residence to be protected from their creditors. Some companies even solicit people to have the company prepare and … Continue reading
Posted in Estate Planning, Law, special needs, Super Lawyer, taxes, Trusts, wills
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Benefits of a Special Needs Trust
If a child has a disability, he or she may qualify for special programs such as Medi-Cal or SSI. These programs typically require that the child have very little or no assets in order to qualify. Sometimes, the government entity … Continue reading
Posted in Estate Planning, Law, special needs, Super Lawyer, taxes, Trusts, Uncategorized, wills
Tagged special needs, Trusts
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Tale of the Trust Protector
An irrevocable trust can designate a trust protector and give him or her certain powers, for example, to change the trustee or to move the trust administration to a different jurisdiction. A trustee is a fiduciary because he or she … Continue reading
Posted in Estate Planning, Law, Super Lawyer, taxes, Trusts, Uncategorized, wills
Tagged living trust, Randy Spiro, super lawyer, Trust, Wills
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Number of Taxable Estates for Federal Estate Tax Purposes
A taxable estate is one in which the net value after applicable deductions exceeds the dollar amount of the exclusion/exemption for the year in which the person died. As the exclusion/exemption amount has increased over the years, the number of … Continue reading
Posted in Estate Planning, Law, Super Lawyer, taxes, Trusts, Uncategorized, wills
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The need to file an estate tax return even when it is not required
A person can die in 2011 with up to $5,000,000 and his or her estate will pay no federal estate taxes. The federal estate tax return, form 706, is not required to be filed if the gross estate of a … Continue reading
Posted in Estate Planning, Law, Super Lawyer, Uncategorized
Tagged Advanced Health Care Directive, Conflicts, Epic, Estate, Estate Planning, Living Trusts, living will, Randy S, Randy Spiro, Trusts, Wills
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Hiring an attorney
Whether you need a bankruptcy attorney, a criminal attorney, or an estate planning attorney, the worst question to ask him or her is: “Do you handle (fill in the type of case or the area of law)?” Many attorneys need … Continue reading
Posted in Estate Planning, Law, Super Lawyer, Uncategorized
Tagged Estate, Estate Planning, Living Trusts, Randy Spiro, Wills
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