Tuesday, April 25, 2017

Administering an Estate through Probate With or Without a Will

Only a Trust Avoids the Probate Process In California, a probate process will need to be initiated in order to administer the estate if the decedent passed with no estate planning (Will or Trust). Probate is a Court-Supervised processed that involves a 6-8 month minimum process (more often 15 months or more) in order to […]

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Monday, April 3, 2017

Is This Your Situation — Worried about Taxes on an Asset Sale?

There is always a temptation to just sell off assets that you've accumulated and take the cash. But that generally  results in a tax bill. There may be a way to profit more from those assets by giving them away.  By setting up a charitable remainder trust (CRT), you might be able to transform a tax liability […]

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Wednesday, March 29, 2017

Naming Trusts as Designated Beneficiaries of Retirement Accounts

Treasury Regulations Permit Naming Trusts as (Designated) Beneficiaries of Retirement Accounts While often viewed as a “gray” area, the reality is that a trust can absolutely become eligible for designated beneficiary treatment, qualifying as a “see-through” trust where the post-death RMDs are calculated based on the life expectancy of the oldest of the trust’s underlying […]

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Tuesday, March 28, 2017

Funding a Living Trust

How Do Life Insurance and Qualified Retirement Plans Fit In? The most important aspect of owning a Revocable Living Trust is ensuring that your assets are titled in the name of the Trust and therefore owned by the Trust. There is an exception to this rule, that involves Qualified Retirement Plans (QRP’s), which include your […]

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Thursday, March 23, 2017

What Financial Advisors Should Look for When Reviewing Client(s) Living Trusts

After practicing estate planning for almost 20 years, I’ve learned that having estate-planning documents doesn’t always mean the estate planning goals are being accomplished. Usually, this is a result of not clarifying objectives before legal documents are drafted, or failing to review and update legal documents when significant life changes occur. As a primer for […]

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Monday, March 13, 2017

Handling Your Parents Wealth

People are living longer than ever before and extended lifespans often come with increased wealth. Decisions regarding your parents' assets can be difficult for everyone, and it's not uncommon for families to be pulled apart in the process. Supervising investments. Setting up an effective estate plan. Planning for the possibility of long-term care. Making charitable contributions. […]

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Monday, March 6, 2017

10 Important Tax-Related Developments for 2016

Several significant tax developments happened last year that may affect federal income tax returns that individual and business taxpayers file in 2017. Here's a quick look at 10 key changes that you should be aware of during this tax season. Uncertain Fate of Tax Extenders In 2016, Congress adjourned without addressing numerous temporary tax provisions […]

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