Law: Estate Planning

According to a recent LA Times article, “the Southern California housing market is red-hot again.” 2015 was the second-busiest year since the 2008 recession, and experts are calling for 2016 to be the year that the peak returns to Orange County. With so much hype in the forecast, it can be difficult for both buyers and sellers to track market trends, sift through all the numbers, and forecast what may or may not happen over years to come. I know I’d rather choose a new paint color or build my dream wraparound porch than pore tediously over CoreLogic statistics. And…
Since its first Wills and Trusts Week in the fall of 2011, the Orange Catholic Foundation (OCF) has had as one of its primary goals to encourage everyone to have an estate plan designed to provide for the needs of their families. Each year in the spring and fall, the OCF works in collaboration with parishes and schools throughout the Roman Catholic Diocese of Orange to provide information sessions led by local Catholic estate planning attorneys and financial advisors to help you protect and provide for your loved ones, update or create your estate plan, and learn more about wills,…
When Trustees finish their work distributing trust assets, they often utter the same comment about the problems they encountered managing a trust: “Nobody knows what to do as a trustee until the job is almost over. It would be nice to know before the job begins.” The complete answer to this question calls for the template of a textbook. But Tina Fey, late of Saturday Night Live, unknowingly gave the simple answer about the trustee’s job when she described a leader: “In most cases being a good boss means hiring talented people and then getting out of their way.” The…
Real Estate Development and Private Money Lender It has been a number of years since I attended high school economics. I won’t name how many, so don’t try to guess. Back then, even in an Advanced Placement class, I think I could categorize the number of topics I learned into about eight varieties: cost-benefit analysis, trade, exchange and interdependence, macroeconomics (as it pertained to business cycles and public debt), the benefits of trade and foreign markets, and some matters pertaining to personal finance. In the years post-high school, some delve deeper: econ majors or those looking to get into the…
If you have not bought or sold a home in a number of years or maybe decades, it is likely there are a few new trends in real estate you should know about when you interview real estate agents.One trend now common among many real estate brokerage firms is called the practice of “going paperless.” This can be a bit scary for some people, especially senior adults who are not accustomed to using computers and tablets in their personal or professional lives. If you have any reservations about the paperless process, you should talk with your agent about any concerns.…
With April 15th only a few weeks away, the time has come to look at some of the available tax deductions for homeowners or for those who bought or sold a home in 2015. In most instances you will need to itemize your taxes in order to qualify for the below tax deductions and credits. If in doubt, talk with a tax attorney or certified public accountant (CPA) to ensure you can claim the deduction. Home Ownership Tax Deductions The following expenses can be eligible for a tax deduction: Your property taxes. The mortgage interest on your primary residence, as…
California is a prime target for senior financial abuse as it is the nation’s highest retirement destination, with an estimated 4.2 million people over age 65 living in the Golden State in 2012. The California Department of Finance projects that by 2020, California’s over-65 population will have increased by 50 percent from 2010 to 6 million and by 2020 will have doubled to 8.4 million as even the youngest baby boomers reach 65 years old.  At an age when the labors of a lifetime should be enjoyed, con artists, unscrupulous companies, caregivers, and even trusted family members are exploiting many…
Back in the 1980’s and 1990’s, when most of us first did our living trusts, Estate Attorneys and Accountants chanted the praises of dividing our estates into two or three parts when the first spouse died. What we were told then was right: the best way to avoid probate and at the same time reduce or eliminate Estate Taxes was to slice the trust in two at the first death to take advantage of the $600,000.00 that each partner in a marriage could pass on to children without any tax bill to pay. For most people, that eliminated the possibility…
According to the Orange County Register, a 91-year-old woman from Brea died in mid-2014, and left her entire estate to her caregiver. After officials discovered the transfer, they removed her assistant as trustee and took away the home she left  him. Why? According to the District Attorney and the ruling Judge, the facts of the case demonstrated “Fraud and Undue Influence” by the caregiver. A caregiver has worked for you in your later years; How can you to safely include this person in your will or your trust? Can you avoid the accusations that destroyed this 91-year-old’s wishes? To avoid…
Whoever said two things in life are certain - Death and Taxes – should have added a third one to that list: Sibling Rivalry. Unless you subscribe to the old Chinese rule of only one child, chances are you have experienced the ugliness of sibling rivalry in your own family. We expect to see this undesirable behavior during childhood but we certainly don’t expect grown adults to exhibit this immaturity after the death of one or both of their parents when they should be pulling together & cooperating with each other. Raising competitive kids in America unknowingly helps breed contempt…
Joint tenancy is often referred to as a “poor man’s will” which is a simple and inexpensive way to avoid probate but it is not appropriate in many cases.  Except between spouses, joint ownership is usually a bad idea. Joint tenancy property passes to the surviving joint tenant, regardless of your Last Will. Despite your best intentions, there’s a trap in holding joint tenancy ownership with an adult child when trying to avoid probate or for “convenience” that you may not have considered. While you may achieve the goal of delaying probate at the first death, your hard-earned assets may…
As an estate planning attorney, one of the questions I get the most is how can I be sure that my kids aren’t going to just waste my money away once I’m gone? Most are concerned that there is nothing they can do, and their adult children are just going to spend their inheritance away without a care for what their parents would have wanted. And we also get many clients that think their family members should be just fine on their own, but want to save their kids some of the financial burden of dealing with their affairs when…
As some senior citizens have learned, even long-standing basics of the law don’t withstand the needs of government agency to pay the costs of health care. In California, the Department of Health Services (DHS) operates under a regulation that changes the common law character of joint tenancy. This regulation, known as 22 CCR 50960.12 [DHS 12], effectively overhauled the legal concept of the Right of Survivorship previously practiced under California Common Law. Under the Right of Survivorship, which existed in joint ten- ancy definitions before California even became a state, if a person owned property with a someone who was…

Latest News

Unique Boutique: Doheny Clothing Exchange

Business Showcase Sorbet Mag

Unique Boutique: Doheny Clothing Exchange

Certain things in life I am very grateful for. These things include chocolate, wine, soul music ...

THE ART OF FALSETTO

Entertainment Sorbet Mag

THE ART  OF FALSETTO

“The gypsy cri-i-i-ied…” Lou Christie – The Gypsy Cried Was the voice you heard a high pitched female alto, a ...

Segerstrom Center for the Arts and Attila Glatz Concert Productions Proudly Announce Salute to Vi…

Entertainment Sorbet Mag

Segerstrom Center for the Arts  and Attila Glatz Concert Productions  Proudly Announce  Salute to Vienna New Year’s Concert

Celebrate the arrival of 2018 in spectacular style with Salute to Vienna New Year’s Concert at Segerstrom Cente...

Sanctuary Home Furnishings byRenaissance

Business Showcase Sorbet Mag

Sanctuary  Home Furnishings  byRenaissance

Last spring, with the “immense assistance of my design and sales team,” Owner Dennis Penman completely redesign...

Paris in a Cup: French Flair, Lunch Fare, Great Gifts and Holiday “SpecialTeas!”

Business Showcase Sorbet Mag

Paris in a Cup:   French Flair, Lunch Fare, Great Gifts and Holiday “SpecialTeas!”

Paris in a Cup is a transporting experience. That is to say, once inside, you’re in Paris. Segmented into two u...

Mobile Dental USA. Bringing the Dentist to You!

Health & Wellness Jody Robinson

Mobile Dental USA. Bringing the Dentist to You!

Serving private residences/homesNursing homesCorporate buildingsVeterans’ communities There are countless thin...

The “Mindful Mover’s” Wish List

Health & Wellness The ALIGN Pilates & Yoga Team

The  “Mindful Mover’s” Wish List

The holiday season has arrived! But what to do about that perfect gift? Well, if there’s a special someone in y...

Living with Lymphedema. Benefits of Quality Medical Compression Garments

Health & Wellness Livia De Los Rios

Living with Lymphedema. Benefits of Quality Medical Compression Garments

The word “lymphedema” means swelling (edema) that results from the pooling of too much lymph fluid in areas of ...

Finding Body Harmony with Health Works Juice Bistro

Business Showcase Sorbet Mag

Finding Body Harmony with Health Works Juice Bistro

A symphony orchestra is typically comprised of seventy to one hundred musicians. Depending on the work being pl...

Less Bluster, More Bustle. Finding Your Way in the Windy City

Travel Jody Robinson

Less Bluster, More Bustle. Finding Your Way in the Windy  City

My first introduction to the city of Chicago was the 1995 film While You Were Sleeping. B-roll of the city’s sk...

Chicago Eats. Distinctive Dining Destinations

Dining Out Sorbet Mag

Chicago Eats.    Distinctive Dining Destinations

312 Chicago136 N. La Salle Street Old World charm and authentic Italian cuisine is at its finest in the heart ...

Addressing Depression - Naturally

Health & Wellness Mary McPherson

Addressing Depression - Naturally

Depression does not discriminate based on your social standing, how much money you have in your bank account, y...

Battling the Isolation Crisis with ALYCEMates

Health & Wellness Jody Robinson

Battling the Isolation Crisis with ALYCEMates

When one contemplates the term “health crisis,” images from the 1995 medical disaster movie Outbreak come to mi...

A Mission for Michael: Setting a New Standard for Recovery

Health & Wellness Sorbet Mag

A Mission for Michael:  Setting a New Standard  for Recovery

Historically, great change has been associated with fire. A great crucible, reforming lives beneath the purifyi...

Pets of the Month

Home Life Jody Robinson

Pets of the Month

This scruffy little guy is King, a four year old cutie who is hoping to meet his match. While King enjoys playi...

Sad Songs, Heartaches and Tragedies

Entertainment Joe D

Sad Songs, Heartaches and Tragedies

“What in the world’s come over you…?” Jack Scott, “What in the World’s Come Over You” The lyrics of the 1950’s...

The Towers at Laguna Wood Willage

Home Life Sorbet Mag

The Towers at Laguna Wood Willage

Ask any resident of The Towers why he or she moved there and you’ll get a similar response: “I was ready to giv...

SOKA Performing Arts Center presents TenPints New Music Series - John Welsh Band - Latin Reggae

Entertainment Sorbet Mag

SOKA Performing Arts Center presents TenPints New Music Series - John Welsh Band - Latin Reggae

Friday, October 20, 2017 @8:00 PM John Welsh Band creates a sound that blends high energy Latin, West African...

Business Showcase: Shamrock Windows and Doors. Insulating Your Investment and Installing a View of t…

Business Showcase Sorbet Mag

Business Showcase: Shamrock Windows and Doors. Insulating Your Investment and Installing a View of the Future

Average temperatures in White Bear Lake, Minnesota range from -6 degrees Fahrenheit to 106. It isn’t difficult ...

Platinum Pacific. Your Retirement Community Leader in Quality Remodels

Business Showcase Jody Robinson

Platinum  Pacific. Your Retirement Community Leader  in Quality Remodels

There has been a surge in popularity over the past decade in the field of home renovation. At first, it was sim...

Prev Next