Estate Planning By ES (18) Actor James Gandolfini died recently at the age of 51. That is far too young to leave this sweet old earth. This writer knows. At 51, this writer feels he’s in the prime of life. My heartfelt condolences to his wife and...Read more
By ES (17) Some out-of-state attorneys prefer wills as the primary estate planning vehicle. California attorneys prefer Trusts. Why? When wills are used, Decedent’s assets must usually go through the probate process to reach the intended beneficiaries.Read more
- The probate process is cumbersome.
- Probate is a very public process. Many...
By ES (14) Boy, they make it complicated. I recently received a newsletter from a national investment firm that recommended that its clients consult with an estate planning attorney. Great advice! Furthermore, the firm recommended that prior to meeting with the attorney, the client marshal a...Read more
By ES This past October, the jury in Michael Jackson’s wrongful death lawsuit found no liability on the part of the defendant AEG Live. But that didn’t end the legal proceedings. Appeals have been filed, and Plaintiffs are disputing the size of Defendant’s $900,000 cost bill. As...Read more
The Unlucky Winner – The Tale of Khan By ES The newspaper recently had a photograph of a grinning chap by the name of Urooj Khan. Dressed in a bright red argyle sweater, he held up his winning ticket in the Illinois state lottery. In May of...Read more
A Qualified Personal Residence Trust (QPRT) removes the value of your residence from your taxable estate. It is also a creditor protection vehicle. Thus, the advantages are real and easy to grasp. What are the disadvantages of QPRTs? 1. Death. If you (the settlor) die during the...Read more
Estate Plans?Read more
Does this describe you? You’re 30, single, and own a condominium. Maybe you’re in a long-term relationship. You've got no kids, but a good job. (SINK, single income no kids.) Do you need estate planning? You might think you’re...
By Edgar SaenzRead more
Does this describe you? You created a living trust. Then you transferred your home into it. Later, you took advantage of low interest rates and refinanced. After the financing, you found out escrow took the property out of...