Some More of Our Readers’ Questions Answered
MARCH 7, 2011 VOLUME 18 NUMBER 8 Two weeks ago we answered some of our readers’ frequent questions, and we solicited more. We heard from several of you with good questions of general interest. Among those (with identifying information and some details stripped out): My wife and I do not have any obvious family member […]
Benefits Eligibility Irrelevant in Lawsuit Over Trust Terms
FEBRUARY 6, 2011 VOLUME 18 NUMBER 5 What can a parent do to ensure continuing care for his or her adult child with a disability? That was the dilemma facing Californian Earl Blacksher in the late 1980s. His daughter Ida McQueen lived with him in the family home in Oakland. She was developmentally disabled, and […]
Trustee Is Not Required To Create Special Needs Sub-Trust
DECEMBER 27, 2010 VOLUME 17 NUMBER 40 Kenneth Boyd established a revocable living trust in 2002. He named his daughter Carol Boyd as trustee, and directed that the trust be divided, upon his death, into three shares. One share each was to go to Carol, to Kenneth’s mother Elizabeth Boyd, and to Carol’s son Ben […]
Estate Tax Reform 2010 — Is It Over Yet?
DECEMBER 20, 2010 VOLUME 17 NUMBER 39 The ink is not yet dry on Congress’s tax and unemployment insurance compromise. Signed just last week by President Obama, the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 has now become law. It continues previous income tax breaks for everyone, regardless of wealth. It […]
Despite the Lawyers’ Best Efforts Heirs May Contest Estate Plan
NOVEMBER 22, 2010 VOLUME 17 NUMBER 36 Our clients usually have similar goals in their estate planning. They want to take care of their children. They may want to leave something to charity. They usually want to minimize taxes that they, their estate or their beneficiaries might have to pay. And they often tell us […]
Even With a Will the Probate Court May Need to Interpret
NOVEMBER 15, 2010 VOLUME 17 NUMBER 36 When we help you plan your estate our goal is to figure out who you would want to be in charge of your finances and personal affairs, who should receive your assets and in what proportion, and what you want done at a future time when you are […]
Trust Named as IRA Beneficiary? Here’s How it Works
OCTOBER 18, 2010 VOLUME 17 NUMBER 32 Three weeks ago we wrote about how to leave an IRA (or other qualified retirement plan) to a special needs trust for your child who has a disability. Two weeks ago we wrote about whether you should (and how you would) name any trust as beneficiary of an […]
Agents Under Power of Attorney Justify $20 Million in Expenditures
OCTOBER 11, 2010 VOLUME 17 NUMBER 32 Imagine this: you have a long-standing history of philanthropy and community involvement. You have substantial assets and you feel that you should use some of them to enrich the community where you live, where you made your fortune, and where your children were raised. Your spouse agrees with […]
How To Leave An IRA To A Child Who Has a Disability
SEPTEMBER 27, 2010 VOLUME 17 NUMBER 30 This is so confusing to clients, but it needn’t be. The rules are actually simpler than they seem. Stay with us, and we’ll walk you through it. OK, here’s the set-up: You have three children, one of whom (the youngest) has a disability. We’ve decided to name her […]
Estate Tax or Death Tax — Who Actually Pays Any?
AUGUST 9, 2010 VOLUME 17 NUMBER 25 Want to read about the debate over estate tax reform/repeal/reinstatement? There is plenty of literature. You can easily learn about the history of the estate tax (going back to 1797 in the United States, or to the 7th century BCE elsewhere). Want more? You can see the arguments […]
