Diminished Capacity and Estate Planning

Courtney Sebo / June 30, 2017
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As anyone who has created an estate plan knows, in order to finalize the plan, you must sign documents.  These documents may be wills, trusts, powers of attorney, health care directives, deeds, or any other related form or document.  In order to sign these documents, a person must have sufficient capacity, otherwise the documents may […]

Please: get the correct acknowledgement if you want to deduct that property contribution

Robert Lynn / June 30, 2016
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“Close” counts with horseshoes and hand grenades. Unfortunately, it doesn’t count for entitlement to deduct a charitable contribution, once the amount claimed exceeds a trigger point. When that happens, the taxpayer’s own records – no matter how convincing – won’t suffice. There has to be an acknowledgement from the charity itself that follows the law […]

Prince Leaves a Complex, Unplanned Estate

Manish Bhatia / May 4, 2016
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Unfortunately, too many recent newsletters have focused on the death of musical legends. This month left us with another untimely death. Prince, whose legal name was Prince Rogers Nelson, died on April 21st at his Paisley Park recording studio and home in Chanhassen, Minnesota. As unbelievable as it may seem, according to his sister, Tyka […]

The Right Way to Inherit

Manish Bhatia / December 20, 2015
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While an inheritance is often considered a gift by the recipient, from a tax perspective, there optimal ways to inherit a retirement account. From the language used to designate the beneficiaries to important IRS-imposed deadlines, the manner in which a retirement account is inherited can significantly affect its value. If you are the beneficiary of […]

Year-End Estate Planning To-Do List

Manish Bhatia / December 5, 2015
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The end of the year is an ideal time to review your current estate plan and confirm that you are taking advantage of all planning opportunities available to you. This includes not only tax planning, but also asset protection, probate avoidance, beneficiary designations and changes in your family and financial situations. On the other hand, […]

Lamar, Khloe & the Urgency of Estate Planning

Manish Bhatia / November 14, 2015
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Former NBA and reality TV star, Lamar Odom, was found unconscious on October 13, 2015, and remains hospitalized in Los Angeles. Odom and his wife, Khloe Kardashian, had been separated for years and were in the middle of a divorce that had not been finalized, allowing his estranged wife to serve as his health care […]

Overcome Obstacles to Effective Healthcare Directives

Anne Denny / July 21, 2015
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Are improvements to healthcare directives necessary and possible? The answer is an emphatic YES! As a trusted advisor, you can blaze the trail for your clients. In the past three decades, a relatively low percent of adults have completed a healthcare directive. So what shortcomings are impeding the national acceptance of advance care planning? 10 […]

Questions To Ask Aging Parents

Jennifer Santini / June 22, 2015
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We are often approached by clients, who have aging parents, to find out the best way to raise the topic of estate planning with their parents. Typically the client is in the process of drafting his or her own estate plan and they realize quickly how messy the administration of an estate can be if […]

An Introduction to Trusteed IRAs

Maggie Green / June 8, 2015
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An individual retirement account (IRA) is typically established in one of two ways. As a custodial account, where the bank or financial institution is simply acting as a fiduciary and must follow the directions of the account owner (including the instruction to cash out the entire balance). An IRA can also be held in trust (the […]

Coach Dean Smith

Jamie Held / April 30, 2015
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Men’s college basketball coaching legend, Dean Smith, passed away on February 7, 2015. Coach Smith utilized a revocable trust in his estate plan. He included a unique bequest.

Unintended Consequences of Disinheriting Children

Jennifer Santini / March 5, 2015
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One thing I learned quickly after becoming an estate planning attorney is that there are often times when my clients’ wishes are not the same as what I would do in their particular situation. For example, the first few times I encountered clients who wished to disinherit their children for reasons more emotionally driven than […]