Author Archives: admin

Probate Alternatives: Totten Trusts and Pay on Death Accounts

One issue which comes up often is whether certain accounts must go through probate – or not. Stripping away everything else, a probate is a lawsuit which resolves the ownership of property. If you do not appoint an owner of … Continue reading

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Who Owns What? Titling Your Assets

Asset titling is a misunderstood but important part of estate planning. It is easy to believe that the so-called experts like banks, investment companies and escrow companies automatically place property into the “proper” name, but that is not always the … Continue reading

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Financial and Estate Planning for Possible Dementia

I remember the doctor’s appointment I made for my mother when I first began questioning whether she had dementia. I sat and listened to his questions testing her cognitive loss.  The questions, which I later discovered were fairly standard, were … Continue reading

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Oh, Thank You Mr. Bobrow: IRA Rollover Rules Have Changed

In 2008, Mr. and Mrs. Bobrow made a series of single-day transfers from several Individual Retirement Accounts (“IRA”) to others. Unfortunately for all of us, one of the transfers occurred more than 60 days after the corresponding withdrawal, which the … Continue reading

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Protecting Your Estate from “Social Engineering” Fraud

One aspect of estate planning is keeping your assets, and not having them stolen.  This came to my attention this weekend, when I received an automated “social engineering” call on my cellphone, something like: “This is ATT.  It has come … Continue reading

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Don’t Forget to Review Beneficiary Designations

Even a well tuned estate plan can be defeated by failing to update beneficiary designations for bank accounts, brokerage accounts, and qualified plans (such as IRAs). Here are some points to consider: If a designation is made, it will ordinarily … Continue reading

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Lessons from “Little Sweetie’s” Estate

Most of us live pretty mundane lives.  But not Hong Kong billionaire Nina Wang, who died in 2007 at age 69.  Wang, nicknamed “little sweetie” because she liked dressing in traditional Chinese clothing and wore pigtails, was the heiress to … Continue reading

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Thoughts on Giving to Charities

I have had a number of clients who have no children or natural heirs, and have struggled with what to do with their estates after death.  Others want to “mix it up,” giving some to their heirs, but not everything.  … Continue reading

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Problems with a Joint Tenancy

While the method is often used, holding property in joint tenancy is not always the best estate planning tool.  It  often has unexpected results. What is joint tenancy?  Under California law, a joint tenancy is property held in undivided equal … Continue reading

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“Death Tax” Hikes Hitting Farmers

On January 1, 2013 the individual estate tax exemption is set to fall from $5 million to $1 million, following the expiration of the Bush tax cuts. The maximum tax rate will rise from 35% to 55% of assets. If … Continue reading

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