Estate Planning Lessons From Gandolfini’s Death

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...
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Wills or Trusts? Which are Better?

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.
  • The probate process is cumbersome.
  • Probate is a very public process.  Many...
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The Michael Jackson Wrongful Death Case – Messy Aftermath

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...
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UNLUCKY WINNER – The Tale of Khan

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...
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QPRT – Disadvantages of a Qualified Personal Residence Trust

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...
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Estate Plans – How Old Do You Have to Be to Have One?

Estate Plans?
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...
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Living Trusts – In-N-Out of Revocable Trust

By Edgar Saenz
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...
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Refinancing Property-Living Trust

Refinancing a Property in a Living Trust

Have you ever had to take your home out of your living trust in order to refinance it? It’s normal and happens all the time.  No need to...
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