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Where did the Living Trust Come From?

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

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...

Prop 19 Update

Posted by James Burns | Mar 09, 2021 | 0 Comments

February 16, 2021 became the deadline for any title changes in order to avert the consequences of proposition 19 which again eliminates the inter-generational transfer protection from property tax reassessment. Now the only way children can inherit your home is if they physically move into it...

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...

Plan To Have Medicare Coverage For Your Winter Travel

Posted by James Burns | Dec 16, 2019 | 0 Comments

As a senior you should plan to protect your health no matter where you might venture. If you currently have Medicare or a Medicare Advantage plan, you shouldn't have any problems getting the care you need anywhere in the US. It's when you decide to travel outside the US that you'll likely encount...

Qualified Charitable Contributions for 2019

Posted by James Burns | Dec 09, 2019 | 0 Comments

We are nearing the end of 2019 and the opportunity to give for this year.  If a person has reached the age of 70.5 they can make cash donations to charities that are approved by the IRS that are outside of the scope of their IRA. These qualified charitable distributions will allow a person to red...

Should You Use Credit Or Debit Cards For Holiday Shopping?

Posted by James Burns | Nov 27, 2019 | 0 Comments

Holiday shopping is underway for many with “Black Friday” and “Cyber Monday” already behind us.  One small question you might ask yourself is whether you should pay for your items with a credit or debit card.  There's a lot of debate about whether you're better off using a credit or debit card b...

2020 Contribution Limits for Employer Sponsored Plans

Posted by James Burns | Nov 11, 2019 | 0 Comments

The 2020 contribution and benefit limits have been released by the IRS. The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government's Thrift Savings Plan is increased. The following limits are applicable to 401(k), 403(b), most 457 plans, an...

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