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California’s new Uniform Trust Decanting Act brings Opportunity, Risk

California recently (9/14/18) joined a few other states that have enacted the Uniform Trust Decanting Act. A lot of states have decanting statutes, several dozen in fact, but they vary greatly and this uniform act is more restrictive than those in some of the more...

One in three Americans who get an inheritance blow it – MarketWatch

  “Great wealth transfer” has joined “silver tsunami” in the lexicon of aging America. It refers to the wave of wealth, estimated to be in the trillions, which will flow from the oldest generation in the coming decades. Yet evidence suggests that many Americans...

Introducing the IT-LIT: Irrevocable Terror Life Insurance Trust

Are 72 virgins really enough? What if they turn out to be 72 Virginians? If you are bound and determined to blow yourself into smithereens or commit some other irrevocable act of terror, at least buy some life insurance so your (surviving) descendants can live like...

The flexibility of stretch IRAs: Learn how your IRA can benefit your spouse and other beneficiaries

  IRA stretch is great in theory, but your beneficiary can withdraw the principal at any time and there is no asset protection. As an estate planning attorney, I can make the stretch real by using an asset-protected standalone IRA Beneficiary Trust, separate from...

The Other Reasons For Estate Planning

  Good discussion of incentive trust planning: Many subjects that serve as substantial planning motivators aren’t found on client questionnaires and are frequently absent from planning discussions. Source: The Other Reasons For Estate Planning (Well actually, we...

Carrie Fisher and Debbie Reynolds Dynastic Deaths Give Offspring Legacies and Millions to Inherit Overnight

  Luck all around, despite the bad planning. Carrie had formal next of kin, daughter Billie Lourd, who inherits the house, the money and presumably the French bulldog even if the outspoken and occasionally erratic actress forgot to leave a valid will behind....

Philanthropic Planning Challenges … Mission Possible or Impossible?

  While it’s important that charities and their staff understand how to match various tools, such as charitable remainder trusts (CRTs), charitable lead trusts (CLTs), charitable gift annuities and other gift plans with the needs of their donors, which may...

World’s oldest man Mbah Goto celebrates what he claims to be his 146th birthday

  He has outlived all 10 of his siblings as well as his four wives, the last of whom died in 1988. All of his children have also died, and now he is survived by his grandchildren, great grandchildren, and great-great grandchildren. Source: World’s oldest...

#AssetProtection: Five Tips for Talking About Money With Adult Children

As parents, our clients want the best for their children, perhaps especially when those children become adults. Learning good financial habits can be central to a successful and independent adulthood. Yet, most young adults feel they’re thrown into the world without...

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