Stories abound regarding the “unfair” treatment of beneficiaries under a loved one’s will or trust. The reason someone received favored treatment is often identified as “undue influence.” The complaint generally sounds like, “but for his/her influence, I would have received a better inheritance.” However, we all know beneficiaries do not have to be treated equally. In…
Although it is often said that nothing is certain except death and taxes, informed planning can help you avoid or minimize capital gains taxes. Talking to your estate planner about options can result in significant savings. What is capital gain? Capital gain is the difference between the “basis” in property and its selling price. The basis…
Through my years of law practice, I have helped clients face and plan for a wide variety of circumstances. Despite this variety, there are some important “lessons learned” that remain important no matter the circumstances. Planning is always better. The reasons people avoid estate planning are familiar. Some want to avoid lawyers and their fees;…
At the time of writing this article, as 2016 is coming to an end and we contemplate January’s inauguration of Donald Trump as our next President, there is speculation over expected tax law changes. When coupled with the Republican Congressional sweep, Mr. Trump’s election increases the likelihood of significant tax reform, including repealing the estate…
We recently attended the Southern California Tax and Estate Planning Council Conference and came away with a smart way of looking at retirement assets that we wanted to share. This is the idea of weighing the “purchasing power” of retirement assets when evaluating a traditional IRA and considering a Roth IRA conversion, as well as…
