Joint Tenancy is Usually Bad Estate Planning
For a deeper understanding of this subject, please take our self-paced online course or attend one of our live seminars. All training is free. Follow @guntrust If attacked, do you want to be Victor or Victim? At SacredHonor.US, we hate for people to die...Armed Israeli Citizen Stops Terror Attack as First Responder #2A #CCW
[UPDATE 10/14/2015: Internal Security Minister Gilad Erdan announced the easing of certain restrictions on gun ownership on Wednesday in an effort to allow more citizens to bear arms in light of the ongoing wave of Palestinian terror. One of the new measures is...EU Invalidates US-EU Safe Harbor Regime
The Court of Justice of the EU has just ruled invalid the entire US-EU Safe Harbor regime for cross border transfers of personal data. High tech companies involved in such transfers will want to keep a close eye on this and get counsel immediately. Follow...Governor Brown Signs SB 707, Turning Schools into Killing Fields #2A
So this is what they call common sense gun legislation? There has never been a recorded instance of a person licensed to carry a concealed handgun shooting up a school. Never. Ever. In fact, such licensees have cleaner records than the average peace officer. Yet...GOOD SHOOT: Craigslist Crime Thwarted By Father’s Armed Son, Two Shots Hit Two Targets #2A
A classic study of felons in prison for burglary has long been cited as evidence that their number one fear was encountering an armed citizen during a home invasion. Why do the wolves of politics (and the sheep who empower them) claim the street is any different? For...Do #Guns Cause Murder? Comparison of US, Other Countries #tcot #2A
Want firearm training? We make it easy.Dr Ben Carson Supports Arming Teachers #tcot #2A
[UPDATE: Be advised there is an issue with Ben Carson’s voter registration. As with Trump, he recently registered as Republican. However, it appears Carson converted to GOP due to Reagan and then got jaded with the establishment types so much that he registered...Shooter asked if they were Christian; if they said yes, they were shot in the head #tcot #1A #2A #CCW
One popular objective of incentive trust planning is the transmission of religious values. Values we characterize by convention are sometimes related to each other and sometimes are different ways of looking at the same thing. For example, many Christians voice...Private Training at Front Sight #tcot #2A #CCW #OC
I am scheduling multiple private training classes throughout 2016 at Front Sight Firearms Training Institute. Unlike the regular classes, private training allows custom instruction according to skill level and multiple attempts at passing the skills test. (This is...CALL GOV BROWN AT 916-445-2841 TELL HIM TO VETO SB 707 #tcot #2A #CCW
On 8 Sep 2015, SB 707 was presented to Gov. Brown for signing. This ill-conceived bill targets concealed carry licensees (who train for safety more than cops, shoot better than cops , and have far less criminal history than cops) , prohibiting them from carrying...NSSF Confirms with ATF: Rule 41P Will Not Be Implemented Anytime Soon #tcot #2A
Per latest NSSF Bullet Points: NO IMPLEMENTATION YET SEEN FOR NOTICE 41P AS FINAL RULE . . . NSSF has confirmed with ATF that the bureau is unlikely to publish Notice 41P (NFA Trusts) as a Final Rule for quite some time. This is in part because EPS resources are being...Music Legacy? Firearm Legacy? Musical Targets Can Transmit Both at Once
I have had quite a few clients draft gun trusts and regular trusts with an eye to transmitting a firearm legacy. Most had not considered the option and were pleased to find out how easy it is to incorporate such incentives into their estate plan. Recently one wife...#EstatePlanning and Leonard Nimoy’s Last Tweet #LLAP #Spock
A Ukrainian-American legend passed today. He left a message for all of us in regard to estate planning. I think he would agree that we should leave a legacy, not merely property. Leonard Nimoy’s last tweet: A life is like a garden. Perfect moments can be had,...SCOTUS Case Affecting Gun Trusts for Felons #2A #tcot
Henderson v. United States is an important case in regard to a special form of gun trust I occasionally draft for individuals about to plead guilty to a felony/misdemeanor wobbler, or in 5150 situations, so they can eventually get their guns back. Government position...Orange County Diocese Publishes Gun Control Hit Piece #2A #CCW #tcot
The following two articles were featured together in the February 11, 2015, edition of the Orange County Catholic, published by the Diocese of Orange in California, in a spread which at first glance appears to be a balanced look at the pros and cons of gun ownership,...LASD Releases Active Shooter Video, I Give You Free Front Sight Training to Prepare #2A #CCW #tcot #OC #SoCal
The LA Sheriff’s Department released a video on preparing to survive when facing an “active shooter” (a term which could easily describe me and over 40 million other American target shooters, but in Orwellian govspeak refers to a crazy and/or...Rule 41P Gun Trust Update per ATF Booth at SHOT Show #2A #tcot
I skipped SHOT Show this year, so am getting this second-hand from Oklahoma gun trust attorney Matthew Riggin: I attended the SHOT show last week and visited with the agents at the ATF booth to ask this very question. ATF confirmed that they had 9500 comments to...InvestmentNews Article on Gun Trusts #2A #tcot
I was interviewed for this InvestmentNews article on gun trusts: http://www.investmentnews.com/article/20150114/FREE/150119965/bullseye-how-gun-trusts-can-hit-the-mark-with-clients-estate-planning I was quoted briefly in the article, and they asked me to write a...Gun Trusts Considered by America’s Top Planner Event #2A #tcot
A few months ago I attended the America’s Top Planner event here in Orange County which attracted major influencers from around the country to learn new planning techniques in a novel format. ATP interviewed me for an idea submission and this is the result:...Proto-terrorists from Sea to Shining Sea? Dial 911-1911
This content is for members onlyLifetime Benefits of Estate Planning
When people evaluate how much an estate plan is going to benefit them, they typically focus on the common benefits of a common cookie-cutter plan, i.e., avoiding probate, avoiding death tax, reducing settlement costs. These are in fact hard and substantial...Family Protection Clinic
This short video illustrates some of the handgun drills we practice in our Family Protection Clinic, where in addition to firearm training you get a recap of California gun law and learn of recent developments in estate planning. Learn about real family protection and...Will Contests: Undue Influence
Related to lack of capacity is another basis for challenging a will—that of undue influence. Undue influence occurs where a testator has the required testamentary capacity, yet that capacity is subject to the control of someone else who seeks to manipulate the...Will Contests: Lack of Capacity to Make a Will
Not everyone can make a will. To make a will, you must have “testamentary capacity.” The requirements vary by state, but generally you must be 18 years of age and be of “sound mind.” Lack of capacity when executing a will can lead to the will being challenged in a...Will a Gun Trust Protect My Guns if SB374 Becomes Law?
This content is for members onlyWhy Every Gun Owner Needs a Gun Trust
[UPDATE: Another reason to have a gun trust: This memo warns that gun owners using a common revocable joint living trust may be at even more risk of incurring criminal liability.] Although gun trusts are now a popular means of obtaining Title II weapons...What does Property Mean?
Estate planning attorneys must ask clients about property they own. This important information is gathered in questionnaires and during interviews. “Property” is one of those terms that is often confusing because many people use the term colloquially in a sense which...What Documents Constitute an Estate Plan?
The documents constituting an estate plan should be selected according to the circumstances and particular goals of a particular plan, but there are certain documents which commonly appear in most plans. BASIC ESTATE PLANNING For example, in a basic foundational...WealthCounsel Member
WealthCounsel, LLC, is the country’s premier community of estate planning attorneys. Over 2500 attorneys at over one thousand law firms across the country are members of WealthCounsel. As a group, WealthCounsel attorneys are considered to be thought leaders in the...Trust Parties, Rights, Responsibilities & Duties
Trust parties include: Trustor/Settlor/Grantor There are several different terms used for the person who creates a trust. “Grantor” is the term used under the Internal Revenue Code. “Trustor” was used in California prior to the current Trust Law taking effect in...Trust Creation in California
Elements of trust creation in California: Trust Elements There are four elements required for creation of a valid express trust: 1. Intention to Create a Trust The settlor’s intention to hold trust property for the benefit of another must be manifested unequivocally,...The Team Approach to Estate Planning
The team approach to estate planning is the only approach to an effective plan. Particularly in the design phase, but also with implementation, estate planning is best done as a team effort of individuals from several disciplines. The core team consists of an estate...Revocable Trusts in California
In order to be revocable by the settlor, a revocable trust must obviously be an inter vivos trust (or “living trust”). The Revocable Living Trust (or “RLT”) is a popular estate planning device because of many advantages it has over a will-based plan. The two main...Reverse Mortgages and Irrevocable Trusts
This content is for members onlyNo Contest Clauses
Do you plan to make UNEQUAL distributions to your kids? Are you worried that one or more of your children may challenge your estate plan or any particular transfer or change in beneficiary you have made, or a particular loan arrangement you have made with a child who...New Gun Trust Reg: Obama Nation to Spy on Family Planning
An excerpt of the following article was posted in opposition to ATF’s Proposed Rule 41P. (Originally published 9/2/2013) Seems I am always working on Labor Day. This year, it’s reviewing the latest nonsense to arise by Executive Order in the Obama Nation. Last...Landmark Supreme Court Case: Retirement Trust Necessary for Asset Protection
Asset protection is an important benefit an estate plan can provide for your family, but oftentimes there is no such planning with respect to retirement assets. This is why I have long encouraged clients to consider a separate “Standalone Retirement...IRS Approves Another NING Trust
Want to escape high state income taxes? On March 7 the IRS in PLR 201410010 approved another NING trust (Nevada Incomplete-gift Non-Grantor Trust), which is incomplete for transfer tax purposes while remaining a non-grantor trust for income tax purposes. This trust,...Irrevocable Trusts in California
An irrevocable inter vivos trust (IRT) is a trust created during the settlor’s lifetime, over which settlor retains no power to alter, amend or revoke. Although RLT’s typically become irrevocable on the settlor’s death, they are not called irrevocable trusts. Trusts...Incentive Trusts
If you have either life insurance or accumulated wealth, you may want to create a safety net for your children. Planning is critical if your children are young, in case something happens to you before they are ready to face life on their own without the benefit of...Incentive Trust Basics
Incentive trusts are designed with the purpose of influencing behavior of the beneficiaries. The type and scope of these provisions is limited only by the imagination of the drafter, and a few more practical limits such as the assets required for implementation...How to Set Up a California Pet Trust with Teeth
Many pet owners are concerned about how their pets will be cared for after the owner dies or becomes incapacitated. Existing estate plans can be easily modified to at least partially address this problem. A client’s durable power of attorney and/or revocable living...Gun Trust Basics
Why EVERY gun owner should have a gun trust; avoiding accidental felonies; carrying on a legacy of firearm training, etc. Gun trusts can also be drafted with incentive provisions for carrying on the firearm legacy. Gun trusts are purpose-built to hold guns. The...GUN TRUST ATTORNEYS ISSUE WARNING
[UPDATE: For the last three years (since August 2016) I have not generally recommended the lifetime funding of gun trusts in California. Passage of AB 1292 in July 2019 has significantly enabled and clarified use of gun trusts — however, there are limits under the new...Gift Tax and Exclusions
Gift Tax Without the gift tax, families could avoid estate tax by making lifetime transfers to children, and gifts to children in a lower income tax bracket could reduce income tax as well. To the extent gift tax applies, these goals are frustrated. The gift tax is...Generation-Skipping Transfer Tax
Much as the gift tax is designed to frustrate avoidance of estate tax, the generation-skipping transfer (GST) tax is designed to deal with transferors who may attempt to avoid both estate and gift tax at successive generations by making transfers to recipients two or...Express Trusts
An express trust is declared in express terms and arises from voluntary action of the parties, usually in the form of a trust instrument that defines the duties of the trustee and the rights of the beneficiary. When we are discussing trusts, usually we are talking...Estate Tax Update
The American Taxpayer Relief Act of 2012 (ATRA) was passed on January 1, 2013, and was signed into law on January 2, 2013. The changes are often referred to as “permanent” because there are no sunset provisions. However, the Obama Administration has already proposed...Estate Planning and Basis Step Up
A primer on basis step up and estate planning: When you sell an item of property, you generally pay tax on the capital gains. This tax is applied to the excess of the sale price over your tax basis in the property. Your basis is generally the purchase price, perhaps...
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