Is now a good time to update my estate plan? The answer is more than likely, yes. Knowing when to update your estate plan is probably not something that is at the top of your list. It’s been a few years since you completed your estate plan. That binder is sitting quietly in your closet,…
Since Kobe Bryant’s tragic passing earlier this year, his wife recently realized their infant daughter was not included in his trust. In the Bryant family trust case, and others we’ve experienced, more than likely the omission was an accident. Assuming it was an accident, what are the steps you, as the living spouse or child,…
“Why wouldn’t they just form a living trust and put their house in it? After all, once that is done, their house is safe because the trust provides asset protection.” Unfortunately, this is a common misconception regarding how trusts work and the protections a trust can provide. Before covering some details about the differences between…
The story always starts the same, “there was supposed to be money, but we don’t know what happened.” For a vast majority of inheritance disputes, compelling the trustee to provide the beneficiaries with an accounting of the trust assets is a vital and mandatory first step. But before jumping in with an accounting of the…
By R. Zebulon Law, Esq. LL.M., CPA & Christina M. Chan, Esq. On December 22, 2017, President Trump signed H.R. 1, the Tax Cuts and Jobs Act. Part of the law concerns the estate tax exemption limit, which has doubled from $5.6 million to $11.2 million per person. The new estate tax exemption limit is effective…
By R. Zebulon Law, Esq. LL.M., CPA This morning (December 22, 2017), President Trump signed H.R. 1, the Tax Cuts and Jobs Act. This is the most significant tax legislation in 30 years, and we wanted to share some of our initial impressions and observations with our clients and friends. Probably the most signification change…
Dear friends, family and clients: We wanted to make you aware of a recent legislative change that will go into effect in the new year. The California State Senate passed the Building Homes and Jobs Act (SB-2). The bill’s purpose is to provide funding for affordable housing in California, it will be funded by an…
November 2017 Law Stein Anderson LLP wants to remind our clients, friends, and families that on June 26, 2017, the IRS issued Internal Revenue Bulletin 2017-26, which essentially extended the deadline to file certain estate tax returns to January 2, 2018. This is an interesting opportunity, which in some cases, could help save some estate…