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Category Archives: Uncategorized
IS THE CONFLICT BETWEEN YOUR HUSBAND AND WIFE ESTATE PLANNING CLIENT NON-WAIVABLE?
Husband and wives rarely retain separate attorneys when creating an estate plan. When the spouses sign a conflict waiver, and if they have an actual conflict, is it waivable? Kevin Mohr, in “Unwaivable Conflicts of lnterests” (Los Angeles County … Continue reading
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Basis in the Era of Uncertain Estate Taxes
Except for IRAs and retirement plans, assets owned by a person at his or her death receive a new cost or stepped up basis equal to their value at the person’s death. This new basis is relevant for capital gain … Continue reading
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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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End of Life Option Act
On October 5, 2015, Governor Brown signed Assembly Bill No. 15 authorizing the following procedure: The patient must be at least 18 years old and has established that he or she is a California resident. He or she has submitted … Continue reading
Finding The Correct Title Insurance Policy
I have sent clients of mine who have bought real estate individually and who have later transferred the real estate into a revocable trust a letter asking them to call their title insurance company to request a CLTA 107.9 endorsement … Continue reading
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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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Portability- The Best Kept Secre
Recently the IRS released statistics for federal estate tax returns (form 706s) filed in 2011, which was the first year of portability (the ability of the surviving spouse to add the deceased spouse’s estate tax exemption to the surviving spouse’s … Continue reading
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Tagged Advanced Health Care Directive, assets, Conflicts, corperations, Dynasty Trust, Epic, Estate, Estate Planning, HIPAA, IRS, Legal, Legal Conflicts, living trust, Living Trusts, living will, NEW RULES, pour over wills, r, Randy S, Randy Spiro, special needs, stock, super lawyer, superlawyer, tax, taxes, transfering assets, Trust, Trusts, Trusts. Decendants, will
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When the original of the trust document has been lost
A person who has a revocable living trust may inadvertently lose the original trust document. He or she will typically continue to hold title to assets in the name of the trust. The person can still furnish copies from his … Continue reading
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Tagged assets, Estate, Estate Planning, IRS, Legal, Legal Conflicts, living trust, Living Trusts, living will, pour over wills, Randy S, Randy Spiro, special needs, super lawyer, taxes, Trust, Trusts. Decendants, will, Wills
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