Posted on November 6th, 2008 by Roy Newman
The dust has begun to settle after the election - and both the legislative and executive branches are controlled by the Democratic Party. If Obama’s estate tax plan becomes law, the $3.5 million exemption of 2009 would be retained, but amounts in excess of that would be taxed at 45%. The top tax rates of [...]
Filed under: Current Events, Estate Planning - Generally, Tax | No Comments »
Posted on September 30th, 2008 by Roy Newman
What is the best way to find a good estate planning or probate lawyer in San Diego? There are many resources that can help you find an attorney – but not all of them will produce an optimal result. Two good ways of finding an attorney are by contacting your friends or the [...]
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Posted on September 24th, 2008 by Roy Newman
If you are appointed as executor, administrator, or personal representative (What are the duties of a personal representative?) of an estate, you are responsible for filing a tax return. An estate tax return must be filed within 9 months of the decedent’s death. Internal Revenue Code §6075. You may file for an extension [...]
Filed under: Estate Administration, Estate Planning - Generally, Estate Tax, Probate, San Diego Estate Planning | No Comments »
Posted on September 22nd, 2008 by Roy Newman
The executors (See “What is a California Personal Representative?“) of Superman’s estate – Joanne Siegal and Laura Siegal Larson – have successfully reclaimed the estate’s half of Jerome Siegal’s copyright of Superman by terminating its grant to Warner Brothers, Time Warner, and DC Comics.
The opinion is an interesting read on the creation and promotion of [...]
Filed under: Current Events, Estate Administration, Estate Planning - Generally, San Diego Estate Planning, Will Contests, Wills | No Comments »
Posted on September 21st, 2008 by Roy Newman
Who may write a will in San Diego? Any person that is eighteen years of age and of sound mind may write a will (But should you? See Will Advantages; and Disadvantages of a Will). A person is of sound mind if they understand the rights, risks, and consequences of the testamentary act, [...]
Filed under: Estate Planning - Generally, Probate, Probate Litigation, San Diego Estate Planning, Will Contests, Wills, Wills and Trusts | No Comments »
Posted on September 19th, 2008 by Roy Newman
A will is a living, breathing legal document (See “What Will Happen if I Die Without a Will?”. There are many ways in which people have tried – and failed – to revoke California wills (See “Advantages of a Will” and “Disadvantages of a Will“) that have produced unexpected and unintended results. Just [...]
Filed under: Estate Planning - Generally, Probate, Probate Litigation, San Diego Estate Planning, Will Contests, Wills, Wills and Trusts | No Comments »
Posted on September 17th, 2008 by Roy Newman
If San Diego estate planning is anything like the rest of the nation, it is in pretty bad shape. The National Association of Estate Planners & Councils has planned the third week of October for a National Estate Planning Awareness week. The reasons for the promotion?
70% of Americans do not have a [...]
Filed under: Current Events, Estate Planning - Generally, Powers of Attorney and Living Wills, San Diego Estate Planning, Trusts, Wills, Wills and Trusts | No Comments »
Posted on September 14th, 2008 by Roy Newman
Now that the big accounting firms have been stung by IRS investigations, indictments, and convictions of the promoters of off the shelf tax shelters (like the POPS, PICOs, and FOCUS of Arnold and Porter), they have largely stopped offering speculative “investments” and offshore asset protection trusts. Now “a few smaller accounting and regional law [...]
Filed under: Asset Protection Trusts, Estate Planning - Generally, Estate Planning of the Rich and Famous, Offshore Trusts, San Diego Estate Planning, Tax, Trusts | No Comments »
Posted on September 10th, 2008 by Roy Newman
Statutory Trust Revocation May Reward Devious Spouses - Punish Sloppy Trust Drafting
It has long been settled that under California probate law, if the trust does not provide for an exclusive method of revocation, the settlors may revoke either by the method contained in the trust or by resort to procedures outlined under statutory revocation. [...]
Filed under: Estate Planning - Generally, Probate, Probate Litigation, San Diego Estate Planning, Trusts, Wills and Trusts | No Comments »
Posted on September 8th, 2008 by Roy Newman
Many parents do not realize that if circumstances suddenly change, as in unforeseen death, incapacity, or some other circumstance prevents their ability to care for their children, a legal guardianship process will be instituted in which a caregiver is selected by a California probate court. For example, if a parent were arrested while her [...]
Filed under: Estate Planning - Generally, Probate, Probate Litigation, Trusts, Wills, Wills and Trusts | No Comments »
Posted on September 7th, 2008 by Roy Newman
A guardianship is appointed for juveniles whose parents cannot take care of their children anymore for any number of reasons, such as a physical illness, military deployment, drug or alcohol problems, or child neglect. In California, there are two types of guardianships, each of which is handled by the San Diego Probate Court.
Probate Guardianship of [...]
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Posted on September 1st, 2008 by Roy Newman
A New York City couple murdered in their home left several unsigned self-written wills as part of their legacy. The wills are likely invalid under New York Probate (and California) law, but that didn’t stop Mark Schwartz from drafting several provisions which may leave some relatives feeling bitter. Knowing that his brother “hopes [...]
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Posted on August 6th, 2008 by Tort
“This is a fun topic. Are there public policy limits to how you can give away your property in your Will or trust? The answer is yes . . .” [Death and Taxes Blog]
Filed under: Estate Planning - Generally, Probate, Probate Litigation, San Diego Estate Planning, Trusts, Wills, Wills and Trusts | No Comments »
Posted on July 29th, 2008 by Tort
“Most people don’t realize that we have two systems of taxation. One taxes income as it’s earned; the other taxes wealth as it changes hands. During a person’s lifetime, we call this transfer tax the gift tax. At his or her death, we call it the estate tax, and it could carry significant tax consequences [...]
Filed under: Estate Planning - Generally, Estate Tax, Gifts and Gift Tax, Tax | No Comments »
Posted on July 22nd, 2008 by (author unknown)
“The price tag for the nation’s housing crisis escalated again with reports Tuesday that a record number of Californians lost their homes to foreclosure in the last three months and that a potential bailout of mortgage giants Fannie Mae and Freddie Mac could reach $25 billion.
The figures were released as the House prepared to vote [...]
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Posted on July 21st, 2008 by Tort
“There are those “life changing moments”… like buying your first home, getting a divorce or starting a business that may require the help of an attorney. Attorneys, after all, do more than provide legal information; they offer strategic advice and apply sophisticated technical skills to legal problems. The question is: How do [...]
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Posted on July 10th, 2008 by (author unknown)
“Americans can save billions of dollars annually on credit card and other interest payments by raising their credit scores, but many consumers still don’t know enough about the complex numerical values that represent their credit risk.
Washington Mutual estimates that, because financial institutions offer lower interest rates to consumers with better scores, consumers could reduce credit [...]
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Posted on July 7th, 2008 by Tort
“One way of doing this is through divorce mediation. The basic attitude marking divorce mediation is a focus on solving problems, not fighting the fight. It is a voluntary process which gives a divorcing couple the opportunity to make their own arrangements for their financial and personal future, while protecting themselves and their children from [...]
Filed under: Estate Planning - Generally, Powers of Attorney and Living Wills, Premarital Agreements, San Diego Estate Planning | No Comments »
Posted on June 25th, 2008 by (author unknown)
“Stumbling emotionally over his words at a special shareholder meeting, Angelo Mozilo, the company’s founder, chairman and chief executive, said he saw no future role for stand-alone mortgage lenders such as Countrywide, which thrived during the housing boom and had suffered badly during the bust.”
Filed under: Estate Planning - Generally, San Diego Estate Planning | No Comments »
Posted on June 18th, 2008 by Trusts EstatesProf
Trusts & Estates Prof Blog Writes:
“Under current law, there will be no estate tax for individuals who die in 2010. Accordingly, some wealthy individuals may plan for their demise to occur during 2010.
The following is from Stephen Moore, Death by Taxes: Seniors May Plan Their Demises to Maximize Their Bequests, Wall St. J., [...]
Filed under: Estate Planning - Generally, Estate Planning of the Rich and Famous, Estate Tax, Gifts and Gift Tax, San Diego Estate Planning | No Comments »
