Category Archives: Estate Planning-General
I Love Vacations
I really cherish and look forward to vacations. Whether it’s a quick day trip or an extended journey, I always try to forget about the work awaiting my return. When the time to return home inevitably rolls around, I’m usually still smiling, however, because I truly enjoy the work I do. I recall reading… Read More »
Blessed Are The Peacemakers
“I don’t care if the lawyers and the courts end up with all of the money. I just don’t want her to get a penny of it.” This is the type of statement I’ve heard several times in a dispute over an inheritance. Usually both parties are gearing up for a fight and neither… Read More »
Death, the Great Equalizer
The death of Michael Jackson (“MJ”) was big news. Like many of you, I was shocked and saddened by his death and spent a lot of time watching and reading media reports about him, his family and his legacy. Even though MJ and his contributions to music will go down in history, his death… Read More »
The Rich Fool
The Biblical parable found in Luke 12:16-21 tells the story of a rich man who was blessed with a great harvest. The man decided to keep all of his riches for himself, retire and “eat, drink and be merry” for the rest of his days. However, that very night God told him that it… Read More »
Giving is Good
Many of my clients wish to make charitable gifts as part of their estate plan. It is common for individuals to leave a share of their estate to their favorite charity, alma mater, fraternal organization or church. If you are considering making a gift to an organization as part of your estate plan, you… Read More »
The Lights Are On, But is Anyone Home?
I often get calls from individuals who request an immediate appointment for an elderly loved one or friend who is mentally slipping away because of dementia or Alzheimer’s disease. They want to help the elderly person complete or make changes to his or her estate plan before it’s too late. I always feel sad… Read More »
Unnatural Bequests
Most of us have relatives, some of whom we are fond of and some we might not love or even like. Regardless of the true character of the relationship, most people believe that their close relatives should leave them something when the relative passes away. In fact, the law presumes that most people want… Read More »
Penny-Wise and Pound Foolish About Estate Planning
Most of us have heard the term “penny-wise and pound-foolish”, an idiom with British roots. A penny is a small amount of money and a (British) pound is a much larger amount of money. “Penny-wise, pound-foolish” is to be cautious (wise) with small amounts of money but wasteful (foolish) with larger amounts or, another… Read More »
Bank Account Safety
The FDIC (Federal Insurance Deposit Corporation) protects depositors against the loss of their insured deposits if an FDIC-insured bank or savings association fails. Several years ago IndyMac Bancorp Inc., a Pasadena-based mortgage lender, failed and was taken over by federal regulators. At that time account holders risked losing all of the money held by… Read More »
Living With Mama
Many parents have an adult child living with them. Sometimes it is for the benefit of the parents — a child can be a wonderful caregiver and provide much needed financial assistance. Oftentimes, however, the adult child is living with the parent because either he or she never left home in the first place… Read More »