Monday, May 22, 2017

Potential Heirs of Prince, say “Lets Go Crazy”

A Case for Having a Living Trust Prince Rogers Nelson (The Artist Formerly Known As Prince) died April 21, 2016 of an accidental overdose of fentanyl, a synthetic opioid drug 50 times more powerful than heroin. Prince follows a long line of celebrities who died suddenly with complicated estates, more complicated family dynamics, and no […]

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Tuesday, May 16, 2017

Spring Cleaning: When Can You Purge Your Old Financial Records?

Feeling the urge to purge? April 18, 2017, was the deadline for individuals and C corporations to file their federal income tax returns for 2016 (or to file for an extension). Before you clear your filing cabinets of old financial records, however, it's important to make sure you won't be caught empty-handed if an IRS […]

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Monday, May 15, 2017

Estate Planning for Boomers

The boomers are coming! That’s the gist of the many reports and news stories that have been published in the last few years. It seems that every week there are at least a few new stories which predict the great changes that are coming as 5 million boomers turn 65 every year for the next […]

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Friday, May 5, 2017

How Much Does It Cost To Set Up a Living Trust?

The most common choice you have when setting up an estate plan is the choice between a Will and a Living Trust.  A Will is always a one-way ticket to probate, unless your estate falls below a minimum threshold of value.   In many states the minimum threshold is about $50,000.  In California, that threshold is […]

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Are All Wills a Matter of Public Record?

Your last Will and Testament is essentially your instructions to the Probate Court as to how you would like your estate distributed.   When you die and your will is submitted to the court, a probate case is opened.  As with any legal case brought before the court, it becomes a matter of public record. Most […]

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Is a Living Trust a Public Record?

This seems to be a very common question.  Many clients assume that they, are and ask how they are supposed to go about recording them.  The answer in fact is the opposite.  Living Trusts are not required to be recorded, are not designed to be recorded and in nearly all circumstances should not be recorded. […]

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Are All Grantor Trusts Revocable?

Most, but not all grantor trusts are revocable, but all revocable living trusts are grantor trusts.  Generally speaking, a grantor trust status does not hinge on whether a trust is revocable or irrevocable, but whether the grantor is responsible, in whole or in part for taxes on the income produced by the trust assets.  There […]

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