Teen thrill-seeker dies when photo pose goes wrong
A 17-year-old photo daredevil died when he accidentally fell from the roof of a nine-story building while posing for a thrilling picture. The teen was reportedly addicted to posting risky, dangerous photos to his Instagram page. Source: Teen thrill-seeker dies...Researchers build tool to help prevent ‘selfie deaths’
In the provocatively titled report “Me, Myself and My Killfie,” the team reportedly found a total of 127 deaths from 2014 to September 2016 that were linked to someone taking or attempting to take a selfie.The number of deaths per year has risen...Armed customer shoots man assaulting woman at party store
Grey issues here. Justified in presenting gun to stop beating of woman? Probably. Justified in shooting once suspect turns to attack him? Not the same disparity of force perhaps, but if suspect may have been able to obtain his gun. Jury will decide. Best we can...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...Prince, Sinatra, Fernandez, Clancy: All Left Estate Messes
The first rule in avoiding estate problems is to always have a will and estate plan in place no matter what your age and put it in a place where people can find it…. The second rule is to hire good attorneys and listen to them. Source: Prince, Sinatra,...Executors Personally Liable for Tax Liabilities of Estate Under Federal Priority Statute, 31 U.S.C. 3713
This is an appeal of summary judgment by the personal representative (the “PR”) of an estate. The lower court found the PR to be personally liable under the federal priority statute, Section 3713, for tax liabilities due from an insolvent estate. Under the...Independence Is Not Just for Young Advisors
So how does someone determine if he is “too old” to make independence work? It really comes down to a few key characteristics shared by those advisors who took the leap: They really wanted it. They believed in their ability to migrate clients and grow. They had...Life Insurance: It Was Never Just About Taxes
This article raises important points — plan for the long-term and don’t let taxes direct the planning over more important goals — plus it’s a good review of the many benefits of life insurance. But as I’ve previously noted, the...Study: Staying in unhappy marriage could be best thing you do
Consider also that your estate plan can include incentives to help your kids and grandkids stay married. Having a child puts a strain on relationships, but staying in an unhappy marriage is the best thing you can do for its long-term success, according to a...Always Say Never
When you have the opportunity to do so, don’t ever, ever, ever let a client surrender or lapse a life insurance policy without talking to you first. I don’t care if you are the estate planning or business attorney, the CPA, the trustee, the family office, the...Now and Then: Nine Reasons Why People Procrastinate Making Wills
A 2015 survey found that 64 percent of Americans don’t have a will. In a blast from the past, we took a look back at a July 1927 article published by Trusts & Estates, to compare the rationale then and now as to why so many individuals defer the drafting of...Plan ahead: 64% of Americans don’t have a will
“You can see in the data that the No. 1 reason people don’t have a will is because they haven’t gotten around to it yet, but that doesn’t tell the whole story. Why haven’t they gotten around to it?” says Lisa Honey, director...Taxation of Aliens Trying to Leave America – Don’t Go Home without your IRS Sailing Permit or You Aren’t Coming Back
Article authored by my friend Brian Dooley, a top international tax expert: Before leaving the United States or any of its possessions permanently or for an extended amount of time, all U.S. resident aliens and nonresident aliens (with certain exceptions) must...Irvine police recover heirloom jewelry stolen by jeweler, dating back to 1892
Recovered at a local pawn shop. Who will handle your jewelry, firearms, other important heirlooms? Are they trustworthy? Nicole Sarber, the owner of the heirloom ring from 1892, went public with her ordeal. Sarber’s boyfriend gave the ring to Cervantes, a jeweler and...Protecting Client Trade Secrets: The Defend Trade Secrets Act of 2016, Part 1
Aggrieved parties have long been able to sue in federal court for copyright, patent, and trademark violations. Surprisingly, no corresponding private cause of action has existed for trade secret theft. Instead, trade secret cases were the domain of state...10 Key Handgun Characteristics that Make Any Gun Easier to Shoot – USA Carry
Of course, the ultimate ease and effectiveness in shooting any gun and the resulting performance and accuracy are a blend of the shooter’s skills, thorough training, repetitive practice, and the gun itself. There is not one magic elixir nor a sole holy grail...Wealth Planners Are Not Afraid of Estate Tax Repeal
In fact, some attorneys see repeal as potentially being a boon for their businesses, especially if the tax is replaced with a capital gains tax such as the one proposed by President Donald Trump on the 2016 campaign trail. Source: Wealth Planners Are Not Afraid...Big reason whites are richer than blacks in America? Lack of black estate planning.
I don’t agree with everything in this article, but it does make a good point about the lack of estate planning. It is surprisingly tough sometimes to get families to consider holding funds in trust to prevent kids from blowing their inheritance, and I can...Utah Jazz Owners Demonstrate Power of Dynasty Trusts
Utah Jazz Owner, Gail Miller, recently made basketball news by announcing that she and her family had transferred the NBA team and the Vivint Smart Home Arena into a dynasty trust. Gail Miller and her late husband, Larry Miller, bought the franchise in 1985 for...Leaked White Paper by ATF COO Says No Need to Restrict AR-15 Imports, Silencers
A leaked white paper by Ronald Turk, second in command at ATF, advocates cutting back gun regulations in a number of areas out of both respect for the Second Amendment and also improving the ATF’s mission of fighting crime. Among his many ideas are...The Last Taboo: Your Parents Still Won’t Talk About Their Money With You
“Delaying conversations until a life event forces the subject means making decisions during a time of crisis that are often driven by emotion — by this time, options are fewer and time is tight — having conversations and a plan of action well before one must...Help Your Clients Manage Political Risk
But, what about political risk? Given today’s volatile political environment, it seems especially prudent to raise this topic. A quick glance at the headlines is all one needs to appreciate that these are treacherous times that require organizations to take...CPAs: Top 10 list for fiduciary income tax returns and planning
As we near tax season, below are some tips for CPAs when planning and preparing tax returns for trusts, along with a link to an upcoming webinar on this very topic.Remember, trusts with 2016 taxable income over $12,400 pay regular income tax at the top income...As Top-Tier Artists Age, the Art World Hopes to Cash In
At 77, Mr. Close is among a critical mass of prominent — and profitable — artists in their twilight years (including Claes Oldenburg, 88; Ed Ruscha, 79; and Gerhard Richter, 84) facing important decisions about how to secure their creations and provide for...58 Years Ago, The Day The Music Died
Buddy Holly left a legacy of sorts, but was it really his legacy? He died intestate, so that is doubtful. Holly’s legacy was written by those who took control, instead of being carried out by trusted family he could have placed in control. The chapters...Trump’s Travel Ban Spooks International Wealthy
Of course, the fear is more about money than family. However, the number one fear voiced by Fisher’s clients is loss of access to their assets. “Access and concern about being able to affect change in U.S. located assets are key.” Source: Trump’s Travel...SEC to Mandate Succession Plans for RIAs
Another regulation that brokers adhere to, but will likely come now to RIAs, is the mandate that the firm has a documented business succession plan in the event the advisor dies suddenly or otherwise becomes incapacitated. The risk is that many RIAs are smaller...Children are Children, Right?
The Will included the following provision about children: “For the purposes of this Will, a child or children of a person named in this Will shall mean the biological and legally adopted children of such person.” Was this definition intended to define who...Divorcing Spouse Busts through Delaware Dynasty Trust to take $30 Million Mansion (Kloiber Case)
Kloiber case recap: Does a Delaware Dynasty Trust still work? Yes, but only if it’s a fully discretionary trust. Do not ever draft a Delaware trust with health, education, maintenance and support distribution language since that is susceptible to the Garretson v....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....Reverse Mortgage Part of Financial Planning
With a reverse mortgage you will never have a mortgage payment as long as you live in the home. Because it is insured by the government, you will never owe more than the home is worth, and the property may be willed to your heirs.The heirs may refinance the...Older workers feel on track for retirement. Are they?
Yet the economic recovery has been tepid, leaving out or squeezing many workers. Many of those laid off are in part-time or lower-level positions, or drifting in and out of the labor force. Many depleted their nest eggs to pay living expenses while they were...Brain games linked to delayed cognitive decline in elderly
This is not the first such study, and I have previously suggested that attendance at my free training events, including my laser simulated range, could spark an interest in a healthy new hobby. “Mentally stimulating activities perhaps in combination with...Judge Neil Gorsuch: Cause for Concern?
I’m not all that concerned about this, actually. Pryor’s support of same sex marriage and transgender nonsense was a much greater threat to the Second Amendment than the apparent views of Gorsuch here. I may actually agree with Gorsuch on this. The...Misdiagnosis of Women’s Heart Disease
Heart disease is the leading killer of women, responsible for one in every four female deaths, and this danger was highlighted by the tragic death of actress Carrie Fisher in late 2016. But almost two-thirds of women who die suddenly from heart disease had no...Armed robber forces armed woman outside, gets shot
Police said Kirton then forced the victim outside at gunpoint, but she was able to retrieve her personal gun to defend herself. Source: Winchester police: Armed robber recovering from wounds afterOC Register Lists “Radical Traditional Catholicism” as Type of Hate Group
[bctt tweet=”Journalism or hate? OC Register lists traditional Catholicism as type of hate group! #tcot #ccot #catholic #2A #NRA” username=”guntrust”] The 2015 Hate Map is nearly 14 percent bigger than the 2014 map. The Southern Poverty Law...HEIRS ACCORDING TO SHARIAH – Principles of Succession
The shares and percentages of wealth distribution between the heirs is based on clear formulas. There are so many combinations of families that each cannot be stated. However some primary principles are that the sons get double the share of the daughters hence...Creditor Protection Update: Protecting Your Assets with a “DAPT”
The list of states is growing, but Nevada is still king for most family situations, even before considering proximity to California. On December 5, 2016, Michigan joined Alaska, Delaware, Nevada, Utah and South Dakota as one of the 17 states that permit the use...COGNITIVE AGING AND THE CAPACITY TO MANAGE MONEY
While Americans often worry about not having enough money in retirement, they seldom worry about their capacity to manage that money.1 At first glance, this lack of concern appears justified because many financial activities are so routine – like paying the monthly...Did San Francisco Eliminate its Transfer Tax Exception for Certain Gifts?
This past November, San Francisco voters approved Proposition W, a ballot measure that increased real property transfer tax rates and made certain other changes to the language of the San Francisco transfer tax ordinance. One of the changes provides that any...Current Political Violence Highlights Importance of Private Trust Planning
By now, hopefully most people are aware that probate avoidance is one of the core benefits of a properly drafted and funded revocable trust, even one done by a trust mill that lacks the sort of comprehensive planning we do. Why is probate bad? Well, one of the...Few Patients Have Advance Care Directives Available
Results: Among study patients (n = 104), 59% reported completing some form of ACP: living will 52%, heathcare power of attorney 54%, do not resuscitate 38%, and medical orders for scope of treatment or physician orders for life-sustaining treatment 6%. Whites...Estate Planning for College Students? What Every Parent Needs to Know
When a child is away at school and falls ill or otherwise needs medical attention (including for mental health purposes), most parents assume that they will be contacted and will have all the rights and responsibilities to direct care. You may be surprised to...Tax Deductions for Estate Planning Fees – Epilawg
If you are stuck doing your own allocation, here are some things to consider when calculating the tax deduction. Attorney’s fees paid in connection with drafting a credit shelter trust, formulating generation skipping tax provisions, marital deduction planning,...Poor planning means government will take half of Prince’s estate
Prince’s estate has until Saturday to file an estate tax payment for the late rock superstar, and the taxes are expected to ultimately swallow nearly half the estate’s estimated $200 million value, meaning a likely windfall of roughly $100 million for the...Income Sprinkling to Minimize Tax Liability
Income sprinkling is often a good strategy to avoid such high tax rates. In such a scenario, the income accumulated in a trust is distributed before December 31st of the year, and it is counted as income for the beneficiary. Unless the beneficiary is also in...Some Firms Apparently Not Yet Planning for Possibility of Repeal
While it is true that there is uncertainty in tax planning now (there always is) and there is a distinct possibility that the estate tax will be repealed and we should of course urge our clients to update after such a major change, it is not true that we cannot...Planning For Protection and Control
The government isn’t the only entity from which clients may wish to shield their assets. Perhaps your client owes money all over town, but would still like to leave something for his kids, or maybe he doesn’t trust his daughter’s husband and wants to ensure...
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