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How to Protect Your Children in and around Laguna Niguel with Your Estate Planning Documents

Posted by James Burns | May 18, 2021 | 0 Comments

Families in Aliso Viejo, Laguna Niguel and other cities in Orange County are keeping their children safe by making sure they have comprehensive legal documents naming guardians.     A good comprehensive estate plan that protects your children will include naming guardians but also providing them with health care powers of attorney over your children in case there is a need for health care immediately. This is often a gap in many plans as there should be 4 core ...

What College Bound Children Need Before They Leave In Case of a Medical Emergency?

Posted by James Burns | Apr 01, 2021 | 0 Comments

Children 18 or older are not longer children. A parent no longer has any rights over their finances, privacy or health care unless they get proper legal documents in place. There are three key documents to have before your child heads off to the dorms. Can you even imagine…? Your son or daughter goes off to college, gets into a very serious car accident and is sent to the ER. And when you call, frantically, to find out if he or she's okay... Nurse: “How old is your son/daughter?” You: “He/She just turne...

Why its a Bad Idea to Every Put Your Child on Title of your Home with You?

Posted by James Burns | Mar 31, 2021 | 0 Comments

Never add your children to title of your home unless you're ready to transfer the entire property to them. By the way; you missed the boat on doing that to avoid Proposition 19 so you might as well hang on to title but use your living trust.     If I add my child's name to the title of my house🏠, wouldn't that be the easiest way to avoid probate and transfer it quickly after I die? Short answer: NO!Here's the scoop: You're running a lot of risk when you do this. Take these into consideration:❌ Want...

Where did the Living Trust Come From?

Posted by James Burns | Mar 16, 2021 | 0 Comments

The living Trust or the concept of using a trust can be traced back in history to the Norman Conquest of England in 1066. We can trace trust history as far back as Norman Conquest of England in 1066. Prior to the Norman Conquest, English law was different, but with the Norman Conquest William decreed that he, as King, owned all the land. From time to time he gave control to others to administer his lan...

What is a Last Will & Testament?

Posted by James Burns | Mar 16, 2021 | 0 Comments

The oldest known will was discovered in Egypt by archeologist William Matthew "Flinders" Petrie in 1890. It was dated by scientists to have been made in 1797 B.C. by a man by the name of Ankh-ren. We then find in the Code of Justinian, collections of laws and legal interpre...

Make Sure Your Documents Stay Safe for Family

Posted by James Burns | Dec 02, 2020 | 0 Comments

We finally solved one of the missing pieces of the puzzle. After years of seeing estate plan documents go missing, destroyed or misplaced we've created cloud lockers as a place to store your documents and preserve them from all types of difficulties so that they remain ready for your family when ...

What Should I Do About My Minor Children?

Posted by James Burns | Aug 21, 2020 | 0 Comments

👨‍👩‍👧 Nobody will ever love or know your children better than you do. And it's going to be really hard finding a guardian who matches all of your opinions when it comes to religion, money, values, etc. So how do you make sure that your guardian knows how you want your children to be r...

“My Spouse Just Passed Away. What Do I Do?"

Posted by James Burns | Aug 21, 2020 | 0 Comments

“My husband just passed away. What do I do?” Taking action after your loved one passes can be tough and confusing.  So we made this simple checklist of what needs to be done within 30 days. Please share with anyone who you feel might need it, or is going through the grieving proces...

Do You Know the Difference Between These Two Documents

Posted by James Burns | Aug 19, 2020 | 0 Comments

Did you know?? These two documents sound the same, but they are completely different legal documents that serve separate purposes. A Living Will describes your medical wishes if you're unable to express them on your own. A Living Trust is used to transfer property to loved ones outside of the ...

Does No-Contest To Your Estate Really Work in California?

Posted by James Burns | May 07, 2020 | 0 Comments

Clients routinely want a no-contest clause in their estate plan just in case someone wants to challenge the estate. However, in the state of California there is not going to be an exclusive bar to challenge and there are some instances where you need to keep the option open for your beneficiary; ...

Does This $190 Million Cryptocurrency Mistake Scare You?

Posted by James Burns | May 07, 2020 | 0 Comments

This new type of currency or investment has added to the list of estate planning mistakes and is why it pays to hire professionals. This estate planning mistake is so costly and why we encourage our clients to make their passwords accessible (digitally in an online vault) to their Successor Trust...

SECURE Act & Your Retirement

Posted by James Burns | Feb 24, 2020 | 0 Comments

Under previous law, a non-spouse beneficiary could take distributions from an inherited IRA over the beneficiary's life expectancy, resulting in advantageous income tax deferral (we called it the “stretch”). Under the SECURE Act, the “stretch” for most non-spouse beneficiaries has been reduced to...

Asset Protection is Common Sense

Posted by James Burns | Jan 26, 2020 | 0 Comments

A taxpayer may arrrange his business affairs in a way to minimize his taxes; and if such arrangements are not shams, the courts should be hesitant to disregard form and exalt substance. Haley v. United States, 400 F.Supp 111 (1975). Just as a taxpayer may structure his affairs to minimize ta...

529 Plan Overview after Secure Act

Posted by James Burns | Jan 17, 2020 | 0 Comments

The SECURE Act expands the definition of qualified higher education expenses to include student loan payments and costs of apprenticeship programs, leaving more options for families. The funds in a 529 can also be used to pay for room and board, books and supplies, special services, and computers...

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