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
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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 [...]
Filed under: Estate Planning - Generally, San
Diego Estate Planning | No
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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
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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
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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
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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
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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
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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
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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 [...]
Filed under: Estate Planning - Generally, Probate, Wills | No
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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 [...]
Filed under: Estate Planning - Generally, Probate, Probate
Litigation, Wills | No
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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 [...]
Filed under: Business
Planning, Current
Events, Estate Planning - Generally, Wills and
Trusts | No Comments »
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 [...]
Filed under: Estate Planning - Generally, Probate, Probate
Litigation, Trusts, Wills | No Comments »
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
[...]
Filed under: Business
Planning, Estate Planning - Generally, San
Diego Estate Planning | No Comments
»
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
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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 »
