Posted on July 21, 2014 by cebca
The following is a guest blog post by April E. Frisby of Frisby Law. April is a lawyer in Orange County who practices business and securities transactional law, as well as estate planning. April is also an adjunct law professor at Whittier Law School
It can be hard to get folks to think about estate planning—especially the younger ones in the beginning stages of their careers. They believe that there will be many changes in their life before end-of-life planning becomes necessary or they think they don’t have enough money to worry about it. Or, perhaps most risky, they think they can just pick up a form at a stationary store or print it from a website and they’ll be all set. Hopefully the following points will help you convince folks that they need your expertise to get an estate plan in place now! Continue reading
Filed under: Estate Planning, Legal Topics | Tagged: estate plan, living trusts, nomination of guardian, power of attorney, will and trusts | 1 Comment »
Posted on July 16, 2014 by Robert Denham, Esq
The law says that retirement funds are exempt property in bankruptcy, but the Supreme Court has held that this exemption doesn’t apply to inherited IRAs. End of story? Not quite. Continue reading
Filed under: Bankruptcy Law, Business Law, Elder Law, Estate Planning | Tagged: bankruptcy, banruptcy exemptions, creditors, Estate Planning, heirs, Individual Retirement Account, inherited IRA, retirement accounts | Leave a comment »
Posted on June 9, 2014 by Julie Brook, Esq.
Posted on February 12, 2014 by Robert Denham, Esq
What do Bela Lugosi, Fred Astaire, and now Bing Crosby have in common? Astaire and Crosby appeared together in the film Holiday Inn, but all three have shaped the law on a deceased personality’s right of publicity. Continue reading
Filed under: Business Law, Estate Planning, Legal Topics | Tagged: Bela Lugosi, Bing Crosby, Fred Astaire, posthumous right of publicity, right of publicity | Leave a comment »
Posted on February 5, 2014 by Julie Brook, Esq.
Every estate plan should consider potential incapacity. In California, one of the primary vehicles used to plan for an individual’s incapacity is a durable power of attorney for financial management (DPOA) (the other is an advance health care directive for health care decisions, see Being Prepared Is Ageless: Everyone Should Have an Advanced Health Care Directive). Let’s look at the pros and cons of using a DPOA.
Filed under: Elder Law, Estate Planning, Legal Topics | Tagged: capacity, DPOA, Durable Power of Attorney, estate plan, incapacity, legal capacity | 5 Comments »
Posted on January 15, 2014 by Robert Denham, Esq
Good news, bad news. The Tax Court has approved a gift tax avoidance scheme, but there’s a catch. Continue reading
Filed under: Estate Planning, Legal Topics, Tax Law | Tagged: Estate Planning, gift tax, gift tax exemption, tax consequences, tax planning | 1 Comment »
Posted on December 9, 2013 by Robert Denham, Esq
Under IRC §408(d)(8), IRA owners over age 70 ½ can distribute up to $100,000 per year directly to charity and never recognize any income on the distribution. But to get this benefit, you must act fast because the law expires at the end of this year. Continue reading
Filed under: Estate Planning, Legal Topics, Tax Law | Tagged: charitable contribution deduction, charitable gift, gift tax, IRA account, IRA distribution, IRS, tax dedudction | Leave a comment »
Posted on November 20, 2013 by Julie Brook, Esq.
When there are issues involving your client’s capacity or the existence of undue influence, you may want to get a neuropsychologist on the case to perform assessments and/or act as an expert witness. Continue reading
Filed under: Elder Law, Estate Planning, Legal Topics | Tagged: capacity, consultant, elder law, expert witness, incapacity, neuropsychologist, undue influence | 1 Comment »
Posted on November 15, 2013 by Robert Denham, Esq
Ever since the graduated probate fee was declared unconstitutional in Estate of Claeyssens (2008) 161 CA4th 465, the legislature has been nickel-and-diming estate planners and their clients with filing fees. Now we have to deal with multiple fees for lodging wills, which used to be free. Continue reading
Filed under: Elder Law, Estate Planning, Legal Topics | Tagged: court fees, executor, filing fee, lodging a will, probate, wills | Leave a comment »
Posted on October 25, 2013 by Robert Denham, Esq
Michael Jackson is back in the news. The IRS added some $700 million to the reported value of Jackson’s estate, based on posthumous publicity rights valued by the estate at $1200. The news brought to light an interesting issue: To get a regular trial with a district judge on a tax deficiency, you have to pay the tax first. Continue reading
Filed under: Estate Planning, Legal Topics, Tax Law | Tagged: estate tax, IRS, Michael Jackson's estate, tax deficiency | Leave a comment »