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Why Seniors Need to Be Careful With Deed Transfers

April 13, 2014

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It is not uncommon for elderly homeowners to sign deed transfers giving their homes to a child (or children) in hopes of reducing estate taxes, avoiding probate or to protect the home in case of long-term care claims.  However, this can be a clumsy – and potentially disastrous — way of trying to accomplish these […]

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What Happens if the Surviving Spouse Fails to Fund the Bypass Trust? – Los Angeles Income Tax Planning & Income Tax Litigation Attorney Bruce Givner

April 8, 2014

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Here’s a case that has been talked about among practitioners for years: what happens if, on the first spouse’s death, the surviving spouse fails to fund the so-called bypass (a.k.a “exclusion,” “exemption,” “family,” “decedent’s,” or “B”) trust? The case of Estate of Olsen v. Commissioner shows the downside of what can happen when such circumstances […]

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Take These Steps to Ensure Your California Will Is Valid

March 18, 2014

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The wills of two celebrities who recently died – Philip Seymour Hoffman and Paul Walker – illustrate the importance of keeping your will up to date.  Hoffman died with a 2004 will that left out his two youngest daughters; Walker’s will had not been updated since he created it in 2001. Reviewing your will when […]

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Can Changes Be Made to an Estate Plan After Death?

March 15, 2014

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Building in flexibility into your California estate plan, which includes naming secondary beneficiaries, is an important aspect of creating a comprehensive estate plan.  Still, many people wonder if there is another way that an estate plan can be amended to pass assets to another, even after the estate owner has died. The answer is yes […]

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