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A SHORT LIST FOR WHY TRUSTS ARE MORE ADVANTAGEOUS THAN A WILL
1. A living trust brings all of your assets together under one single estate plan with ONE set of instructions. This arrangement makes your wishes easier to carry out. Trusts are designed to facilitate the distribution of your estate in that it will be...
Free Seminar – Tuesday, January 27, 2015 – Torrance, CA
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WHY “DO IT YOURSELF/FILL IN THE BLANK” WILLS & TRUSTS OFTEN RESULT IN DISASTER
WHY “DO IT YOURSELF/FILL IN THE BLANK” WILLS & TRUSTS OFTEN RESULT IN DISASTER Retaining the services and expertise of an attorney who can assist you in preparing a smart estate plan requires a serious investment of time and money. The benefits (however) far...
SOME COMMON MISUNDERSTANDINGS REGARDING LIVING TRUSTS
SOME COMMON MISUNDERSTANDINGS REGARDING LIVING TRUSTS: 1. “They cost too much.” A properly written and legally enforceable living trust typically has a higher initial price tag than what a will does. But, when you take into consideration the privacy, legally...
Samuel B. Ledwitz Joins the The National Advocates Top 100 Lawyers
Samuel B. Ledwitz Joins the The National Advocates Top 100 Lawyers Link to Samuel’s Profile at The National Advocates The National Advocates: Top 100 Lawyers is an invitation-only national organization composed of America’s Premier Lawyers. Membership is...
MISTAKEN IDEAS REGARDING ESTATE PLANNING
There is a great deal of confusion and mythology regarding estate planning. It’s a subject that healthy, busy people really don’t want to think about. Understandably, the thought of suddenly becoming unable to function (due to disease or a catastrophic illness) and...
HIPAA PRIVACY PROTECTIONS AND CHARLIE SHEEN
The Health Insurance Portability and Accountability Act, which is also known as “HIPAA”, is a body of laws enacted by Congress in 1996 which are designed to uphold and protect the transmission, confidentiality and privacy of our medical records and other related...
BE CAREFUL ABOUT “REVERSE” MORTGAGES
On the surface, a reverse mortgage seems like an excellent way to supplement your retirement income. By using your house as collateral, a bank will pay you (instead of you paying them) its equity (value) back to you in monthly installments. By taking into account...
WHAT IS “ASSISTED” LIVING?
As we, our parents and relatives age, their ability to live independently eventually becomes unsafe, unrealistic—or both. One option in having them avoid the very real possibilities of household accidents and injuries can be found in convincing our elder loved ones to...
FIREARM TRANSFERS AND MEDICAL/CASUAL MARIJUANA USE: SOME IMPORTANT THINGS TO CONSIDER
Federal law always overrides state law. This is certainly the case with respect to federal gun laws and drug use. Although California law allows marijuana to be used medicinally and recreationally (but not with its wholesale distribution and sale), the federal Bureau...
BE SKEPTICAL WHEN GETTING AN EMAIL OR PHONE CALL FROM THE I.R.S.
In their never-ending pursuit with finding new ways to scare and defraud honest taxpayers, criminals are now employing a new scam. This one involves reaching out to citizens (either by telephone or via the internet), identifying themselves as I.R.S. agents, and making...
Colonel (CA) Martin Ledwitz Honored by the The California Air Force Association (CAFA)
California Air Force Association 2014 Annual Convention: Awards to California Air National and California State Military Reserve Personnel and Units The California Air Force Association (CAFA) held its annual convention from 14 to 16 August 2014 at Vandenberg Air...
Firm President Samuel B. Ledwitz in Summer 2014 Issue of South Bay Magazine
Samuel B. Ledwitz, J.D., LL.M, President/Managing Partner The Law Firm of Bezaire, Ledwitz & Associates,...
The City of Long Beach Mayor’s Office Recognizes Bezaire, Ledwitz & Associates, APC
The Law Firm of Bezaire, Ledwitz & Associates, APC has been recognized by the City of Long Beach for their “philanthropic generosity, and leadership” as well as “seven years of dedicated work to the Long Beach Community.” Al Austin,...
Using Qualified Personal Residence Trusts To Lower Your Taxes
Clintons seek to avoid a tax they once supported Bill and Hillary are reportedly using tax advantaged strategies used by multimillionaires. Read More at fortune.com Qualified Personal Residence Trusts – Bezaire, Ledwitz & Associates, APC Qualified...
Estate Planning: Affordable Care Act and expanded Medi-Cal
Under the Affordable Care Act (“ACA”), low income persons under age 65 may enroll in the expanded Medi-Cal in order to meet the federal requirement that everyone have health care insurance. At age 65, Medicare covers doctor visits, hospital visits and some...
Casey Kasem’s Ordeal Offers 5 Estate-Planning Lessons
Beloved radio personality Casey Kasem passed away last Sunday, leaving behind a media legacy and some eye-opening lessons regarding end-of-life/estate planning. Read...
Martin Ledwitz at the The Air & Waste Management Association’s 107th Annual Conference & Exhibition in Long Beach – June 24-27, 2014
From The Air & Waste Management Association Website “Join the Air & Waste Management Association for our 107th Annual Conference & Exhibition on June 24-27, 2014 at the Long Beach Convention Center in Long Beach, California. This is the...
3 Ways to Avoid an Estate Planning Scam
a few minutes ago CHICAGO, Illinois – Every time you turn on the news, it seems like there is a new scam making headlines. By now, we’re all familiar with Bernie Madoff and his infamous Ponzi scheme. Many people have also heard about the “grandparent...
Eight Common Estate Planning Objectives Of Married Couples
As the previous posts demonstrate, estate planners still struggle with how to structure estate plans for married couples in order to accomplish both the tax and nontax objectives of such couples. Introducing the portability election into the arena has only made such...
So You Have Been Named Executor of An Estate – What Does It Mean?
An executor is a person named by a Will in charge of wrapping up the decedent’s estate and making sure that the wishes of the decedent are followed. Often, people name close friends or relatives as executors of their estate, reflecting on that person’s...
Estate Planning News – Undue Influence Update -May 5th, 2014
[wp_lightbox_prettyPhoto_video link=”https://vimeo.com/57999385″ description=”Undue Influence” source=”https://smartestateplans.com/wp-content/uploads/2014/05/ui.png” title=”Undue Influence”] In this week’s edition...
Serving The Community – Attorney Gayle Carson
Attorney Gayle Carson of the Law Firm of Bezaire, Ledwitz & Associates, APC sits as a Director on the Cabrillo Beach Yacht Club : San Pedro, CA. Gayle Carson, Top Row, Third from Right. CBYC provides sailing instruction for all community youth, regardless of...
SAMUEL LEDWITZ JOINS THE LOS ANGELES CHAPTER 147 AIR FORCE ASSOCIATION
2014 1Q AFA 147 Newsletter (Full Newsletter) “We would like to welcome as a new Community Partner, the law firm of Bezaire, Ledwitz & Associates, APC. Mr. Samuel B. Ledwitz, a partner, (and pictured at our Mixer) will represent the firm as the designated Air...
Estate Planning News – April 22nd, 2014 – IRA Inheritance
In this week’s Estate Planning News, our firm has highlighted the oft-overlooked area of Estate Planning and IRAs. We chose three articles that explain different IRA planning strategies, ideas, and perspectives on how IRAs can and should be used in an Estate...
IRS Notice 2014-19: Further Recognition for Same-Sex Married Couples
As we have discussed in previous posts, the impact of the United States v. Windsor case has been broad. This landmark ruling invalidated provisions of the Defense of Marriage Act, paving the way for recognition of same-sex marriages when it comes to federal tax...
Why An Advance Directive Is A Crucial Part Of Estate Planning
Today is a day that, until recently, I wasn’t aware had any independent significance other than being April 16. However, April 16 is – and has been for the past seven years – National Healthcare Decisions Day. You can see the website dedicated to this purpose...
Estate Planning News – April 14th, 2014
In this week’s inaugural edition of Estate Planning News, our firm has selected some helpful articles from around the web that cover problems commonly encountered by clients during the Estate Planning process: so our readers won’t make them! In an article...
“Why Do I Need an Estate Planning Attorney?” To Avoid a Do-it-Yourself Disaster!
Our firm frequently comes into contact with prospective clients who want to know why they should pay attorneys’ fees for an Estate Plan when they can produce “the same product,” for a fraction of the cost, by filling out a form online. Unfortunately, the pitfalls of...
City of Arcadia 16th Annual Law Day Celebration
City of Arcadia Law Day is coming up soon. The City of Arcadia and the Arcadia Chinese Association will co-sponsor this free Ask-a-Lawyer Program at the Arcadia Public Library on Saturday, May 10, 2014 from 10 a.m. to 1 p.m. Volunteer attorneys, along with other...
Video – Shirley Reid, Client Testimonial
[wp_lightbox_prettyPhoto_video link=”http://youtu.be/uteQxYMT5Ow” description=”Shirley Reid, Client Testimonial” source=”https://smartestateplans.com/wp-content/uploads/2014/04/samshir.png” title=”Shirley Reid, Client...
South Bay Bar Association “Ask a Lawyer” Program May 1, 2014
Members of the South Bay Bar Association will be available to answer your legal questions at no charge in celebration of National Law Day. The Law Firm of Bezaire, Ledwitz & Associates, APC will be participating in the “Ask a Lawyer” Program. Mark your...
DOMA: Perry Doesn’t Address State Law Concerns
DOMA: Perry Doesn’t Address State Law Concerns As discussed in previous posts by this blog and numerous other commentators, the landmark Supreme Court case United States v. Windsor resulted in the Defense of Marriage Act (commonly abbreviated as “DOMA”) being ruled...
Updated 2014 Successor Trustee’s Handbook
We have just published our updated 2014 Successor Trustee’s Handbook. It is available to read online here: Successor Trustee Handbook We will also be distributing printed copies to the attendees of our April 9th Seminar in...
FREE SEMINAR Wednesday , April 9, 2014 at 2:00 – WANT TO KNOW MORE ABOUT SUCCESSOR TRUSTEE DUTIES?
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Congresswoman Janice Hahn and Samuel B. Ledwitz at Assistance League San Pedro-South Bay
Congresswoman Janice Hahn and Attorney Samuel B. Ledwitz at the Assistance League of San Pedro. The only volunteer Post Office celebrated its 50 year anniversary. The profits go to helping the local kids get access to food, clothes, and dental work so they can go to school and have a comfortable day and learn without having to worry about the basics of life.
Unity of Life Foundation
Devona E. Chiles, the Senior Paralegal at our Firm, is the Founder of the Unity of Life Foundation. We support her tireless efforts as much as possible and would greatly appreciate your consideration in doing the same. Her Website has information about her...
Estate Planning For Your Children – It’s Not Just About The Money
Most people near the age of majority do not have large estates (money or property) and many families assume that this means an estate plan is completely unnecessary. This is simply not true. A comprehensive estate plan does much more than protecting property from probate and directing the disposition of assets—estate plans also tell medical and financial institutions who is authorized to make decisions on your behalf. Without current, effective documents, these institutions may refuse to release medical information and will likely not allow family members to make healthcare decisions.
DOMA and Estate Planning
Recently the United States Supreme Court ruled on United States vs. Windsor—a case that argued the constitutionality of the Defense of Marriage Act (DOMA). DOMA’s Section 3 controversially defined a “marriage,” for federal tax law and benefits, as only between one man...
Spring 2014 Newsletter
Portability Explained Preserving Estate Tax Exemptions for Married Couples.
You’ve Been Named Successor Trustee – What Does That Mean?
FREE SEMINAR – SUCCESSOR TRUSTEE DUTIES – Wednesday April 9, 2014 at 2:00 p.m 970 W. 190TH STREET, TORRANCE, CA 90502
Spotlight: Accident Law, The Most Important Thing You Can Do Before Your Accident By James L. Pocrass, Esq. Pocrass & De Los Reyes LLP
WHEN WAS THE LAST TIME YOU REVIEWED YOUR TRUST? WE OFFER FREE THREE YEAR REVIEWS!
What is a 1035 Exchange?
A 1035 exchange is a provision in the tax code that most people have not heard about. It allows for the direct exchange of accumulated funds in a life insurance policy or annuity for another life insurance policy or annuity without creating a taxable event.
Using an A-B Trust to Control your Assets
When there is a blended family with children from multiple marriages, special considerations should be placed into the estate plan.
Without proper planning, the surviving spouse could be left without the means to provide for him or herself. Additionally, we also see lopsided distributions, which typically result in one spouses children suing the others.
The Basics of Estate Taxes
Here is a quick breakdown of all the basic points people should be aware regarding Estate Taxes. What are Estate Taxes? Estate taxes are paid to the federal government for the transfer of property upon death. Federal estate taxes are based on the size of the estate?...
2013 End of Year Newsletter
December Newsletter – Full Newsletter Topics: A-B Trusts: Is It Time to Switch to an A-B Disclaimer Trust? Technology and Estate Planning – Your Digital Legacy Spotlight: Real Estate Free Seminar, A-B Disclaimer Trusts – Wednesday January 15,...
Keeping Track of Trust Assets
When someone passes away, one of the first things a Trustee need to do is to find out what assets are in the trust, which need to be put into the trust, and which have direct beneficiary designations. Most estate plans have an inventory sheet where all the trust...
What You Need to Know About Pet Trusts
Pets are the most often overlooked members of the family when it comes to estate planning. Some might think that it’s a bit silly to think about estate planning for pets, but pet loves sure don’t. It’s really a serious matter. Most pets eventually...
3 Simple Real Estate Mistakes That Trigger Probate
Every year, during our free 3-year reviews, without fail, we find that a few of our clients have inadvertently placed a piece of real estate in danger of going through probate. Refinancing When interest rates drop, like they have in the past few years, many people...
Why You Should Rethink Joint Tenancy Agreements
Sometimes people can get a little too cleaver in their attempts to avoid probate, and save some money in legal fees. One of the maneuvers we see quite a bit involves adding children, or other family members to accounts are joint tenants. Unfortunately, this maneuver...
Estate Tax Exemption to Change in 2013
*** Update *** As of 8:00 PM PST on January 1, 2013 The US House of Representatives passed the Senate bill designed to avert the Fiscal Cliff. President Obama has signaled that he will sign it into law. Included in this bill is a new Federal Estate Tax Exemption. The...
What is the Best way to Avoid a Conservatorship?
The best way to avoid a conservatorship is to plan ahead and make sure you’re protected in the event that you become incapacitated. Under California law, if a person is found to be legally incompetent, the probate court can appoint a conservator to oversee a...
How Can I Use a Trust to Take Care of my Children?
You can use a Revocable living trust to specify a trustee to hold the trust assets and keep them invested until your child or children reach an age your feel comfortable with. This type of trust is referred to as a Spendthrift Trust, and can be folded right into your...
What does Stepped Up Basis mean?
The “Stepped up Basis” (new value) is a new basis which is available to property received through inheritance. The basis of a property is the value used to determine gain or loss for income tax purposes. Basically, it is the cost of the property (what you...
What Kind of Revocable Living Trusts can a Married Couple Have?
Basically there are two types of revocable living trusts for married couples. The first type is called a simple or basic trust. With a basic trust, while both spouses are living, they continue to manage the estate together as they had before creating the trust. Upon...
Can a Single Person create a Revocable Living Trust?
Yes. A single person can create a Revocable Living Trust. The more important question is “Should a Single Person create a Revocable Living Trust?” The answer to that is also a resounding, YES! In fact, it is much more important for a single person to...
Probate Law Changes Starting in 2012
There are a couple of new Probate Law changes this year: The threshold for file a probate went up from $100,000 to $150,000 pursuant to California Probate Coded section 13000. This amount does not include bank accounts held in joint tenancy or accounts with...
What is a Revocable Living Trust?
A Revocable Living Trust is an alternative to a will, is the cornerstone of most estate plans. You transfer your property from yourself, as trustor, to yourself as trustee. No one else is involved with your trust while you are living. You can buy, sell, trade, invest,...
What is the gross value of the estate?
The gross value of the estate is the fair market value of the estate before the debts are paid. For example, a $200,00 home is left to a child by a parent in a will. As the estate goes through the probate process, there will be fees of approximately $8,000 in...
What is probate?
Probate is the legal procedure used to transfer title to assets upon death. The superior Court supervises the payment of debts, taxes and probate fees. The court the supervises the distributions of the estate to the heirs. Unfortunately however, the process is both...
What is Estate Planning?
Estate Planning is the area of the law which deals with putting property to the best possible use for your benefit during your lifetime, and for the benefit of your “beneficiaries” after your death. If the estate has been well planned, your asses should be...