Last year at this time, Los Angeles estate planning attorneys were concerned about protecting clients' assets from potentially high taxes. Fears that the IRS tax-free part of an estate would drop from above $5 million to $1 million were unfounded. Federal estate taxes...
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Year: 2013
Confusion erupts when California estate plans are unshared
A Los Angeles parent with adult children is incapacitated by severe illness. The children are uncertain whether estate planning documents exist, including powers of attorney that permit someone to manage the parent's finances or health care decisions. The children...
California estate plan “flaws” may reflect a decedent’s wishes
Actor James Gandolfini was worth an estimated $70 million at the time of his death. Reports said the star of the HBO series "The Sopranos" left behind a will that passed the bulk of his fortune to a baby daughter and siblings. Critics felt estate planning mistakes...
Planning a California trust for a special needs child
Parents of a disabled child often worry how to set up an estate plan that provides an inheritance without disqualifying the child from valuable government benefits. Estate planning trusts can be designed to help a special needs beneficiary without sacrificing...
Are relatives qualified to be executors of California estates?
This question can only be answered by you as a testator, the will creator. The decision to designate a spouse or other relative as the executor of your estate depends on the qualities, abilities and willingness of the family member. An estate planning attorney would...
Estate planning just got easier for California gay couples
Los Angeles estate planning attorneys just got very busy. In one fell swoop, the U.S. Supreme Court threw out the Defense of Marriage Act and shot down Proposition 8 in California. Gay couples who reside in the state now can marry and gain federal financial benefits...
Making a California estate plan that works for you and heirs
What excuses do people in Los Angeles use to avoid making an estate plan? The same excuses people across the U.S. employ. If your internal argument includes "I'm too young to think about death" or "I'm not wealthy enough to make a will," then it's likely you may die...
$300 million dispute over California heiress’s estate
The California estate of Hugette Clark remains unresolved two years after the 104-year-old woman's death. Multiple parties, including relatives of the last descendent of a $300 million copper mining fortune never knew, are disputing two wills Clark left behind. A...
Are California boomers ready to commit to estate plans?
The youngest members of the baby boom generation are celebrating the last year of their 40s. First-born boomers entered retirement age two years ago; they turn 67 this year. The massive generation adds to the 65 and older population at the rate of 10,000 people per...
Are you up for the job of a California estate executor?
The word "executor" sounds like a title that could enhance a resume. In fact, a person who can handle the responsibilities of a California executor is probably well qualified for many jobs. Estate administrators known as fiduciaries have immense responsibility to a...