John and Mary are going through a divorce in California. They have no children. Mary has not worked outside the home during their entire marriage of 10 years. She now suffers from Parkinson's Disease and is unable to work. Their respective attorneys have jointly determined that, based upon John's income and Mary's need, John should pay approximately $1,500 / month in More...

  Estate planners use trusts to protect beneficiaries from their inability, their disability, their creditors and their predators. Included under "creditors" are the IRS and divorced spouses. More sophisticated estate planners generally create multi-generational dynasty trusts for their clients' descendants that are (1) estate tax protected, (2) creditor protected More...

  If you’ve ever thought about a living trust, it’s probably because you hate the idea of going through probate.  Living trusts have been heavily marketed on that basis over the past several years and, yes, living trusts certainly do avoid probate.  But, there’s a whole lot more to living trusts than just that.  In fact, avoiding probate is not even one of More...

  If you have a revocable living trust, funding of the trust is an essential step to ensure that the trust operates as intended. Funding your trust with the bonds that you own is just one step in this funding process. In order to transfer your bonds to the trustee of your trust, you will need to identify the type of bond, and select the proper method of transfer. You will also want More...

Parents spend years providing, protecting and caring for us as their children. We honor them by giving Mother a day in May and Father a day in June to express our appreciation for their years of effort in our behalf. Wouldn't it be great if there was some way we could make sure that they too are provided for, protected and, if needed, cared for as they age? One of the most satisfying aspects More...

  I have received a number of emails lately about when to fund a living trust. It's a question that seems to confuse a lot of people because there appears to be several right answers. And, there are - depending upon your reasons for establishing a living trust in the first place. First, funding a living trust simply means transferring your property to your trust. How you transfer property More...

If you’re the parent of a disabled child, you’re probably concerned with the uncertainty of your child’s financial future and the realization that you will not always be around to provide for him.   Understanding your disabled child’s future needs and eligibility for available resources will allow you to create a plan that will protect his financial security. A More...

  The term "QDOT" is an acronym for "Qualified Domestic Trust."  Some people prefer to use the acronym "QDT," but we'll refer to this type of trust as a QDOT.  Qualified Domestic Trusts were created under the Technical & Miscellaneous Revenue Act of 1988 (TAMRA), effective for decedents dying after November 10, 1988.  Prior to TAMRA, the More...

Planning for your disabled child’s financial future will protect his or her financial security and eliminate the emotional strain placed on family members left with the responsibility to care for this child upon your death. One of the most important concerns parents of a disabled child have is the uncertainty of the future and the realization that they will not always be around to More...

  Question:   My father passed away in April 2006. I have distributed the funds according to the Trust except for approximately $28,000 that is to go to my niece (my father's granddaughter). She has not returned her W9 as she is hesitate to receive the money because of the fact that she is on SSI. I want to close the Trust account and be able to file the necessary taxes the More...

  You may be one who says: "I don't need a trust. I don't have a large estate. I don't need fancy planning. It's too expensive anyway. And complicated. So I just don't need a trust!" And so you ask: "Why would I want to have a trust?" I'm going to describe in a few simple words why you will benefit from a trust. First, let me explain what a trust is. A trust is a More...

Another thing that prevents us from taking this step is that most of us simply do not want to think about what would happen if we die or become incapacitated. This type of thought frightens us or makes us feel bad. We do not want to comprehend the fact that we will die some day. But, what will happen to our family? Are there small children in the home? Where will they go? What will happen to More...