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 Torrance, CA. Call to reserve a place today –...FREE SEMINAR Wednesday , April 9, 2014 at 2:00 – WANT TO KNOW MORE ABOUT SUCCESSOR TRUSTEE DUTIES?
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 organization whose mission is to “Eliminate and prevent homelessness through family preservation and unification of our communities.” From her site: ….So much of who I am has gone into this organization and I am happy to share it with you. It saddens me to know there are families struggling to maintain the basic necessities of life; a home, food and clothes. I founded this organization because I truly believe that no man should have to want for shelter or food. Unity of Life will strengthen communities and families through educational programs and affordable housing, while changing the perception of homelessness. My purpose is to help and serve those in need and encourage all people to reach their goals... –Devona E. Chiles Want to help right now? Donate here Unity of Life Foundation, Inc. is a 501c(3) public benefit non-profit corporation . All rights reserved 2003. P.O. Box 5952 Long Beach, CA 90805 ph: 562-225-0566...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 and one woman, and defined “spouse” as a person only of the opposite sex. Section 2 of DOMA also stated that states that did not allow same-sex marriages did not have to recognize those marriages from other jurisdictions. The Windsor court struck down Section 3 as unconstitutional—removing it from the statute as though it had never existed. Section 2 was not ruled on, leaving some gray area when it comes to states’ recognition of out-of-state same sex marriages. The IRS, following the decision, was decidedly less equivocal—issuing Revenue Ruling 2013-17, stating that same-sex couples, legally married in a state or foreign jurisdiction that authorizes the marriage, will be treated as married for all federal tax purposes. In California, Hollingsworth v. Perry held that Proposition 8, which banned same-sex marriages in the state, was also unconstitutional—allowing California same-sex couples to join into IRS-recognized valid marriages. Notably, this does not apply to civil unions, registered domestic partnerships, or other non-marital relationships, regardless of what rights or privileges are bestowed upon those types of unions by states. So what does this decision mean for same-sex couples in an Estate Planning context? Prior to the Windsor decision, same-sex couples historically faced challenges to planning their estates, including: Persistent need to define property rights by contract. High chance of Will contests. Difficulty enforcing inheritance rights of adopted children. Simply, the IRS ruling...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.