Our blog includes posts about a wide range of estate planning topics, including trust-based estate plans, estate planning when you have a disabled adult child, planning as part of a blended family, and planning for charitable giving. To learn more, contact our office to discuss how we can help you create an estate plan that best fits your needs.
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Guidance on California's End of Life Option Act: John Goralka and Kiran Dhillon Author Los Angeles Lawyer Article After a number of delays, California's End of Life Option Act (the Act) became effective in June 2016.1 Only a few states have either legislatively or judicially approved an end of life or death with dignity option: Oregon, Washington, Vermont, Montana,2 and California. The Act is not without controversy. Some... -
In the News: 10 Ways to Prevent a Family Dispute Over Inheritance A complete estate plan does not simply provide for moving assets from one generation to the next. A complete estate plan will focus on the enlightened dreams that you have for the next generations and the people that you wish them to be even if you are not here to... -
Estate Planning: Learn How the 'Step-Up Basis' Tax Rules Work and Reduce Taxes on Capital Gains When planning your estate, it's important to understand the "cost" or "basis" for tax purposes that an individual gets in property he or she inherits. This is an area that's often overlooked when families start to put their affairs in order. Traditionally, estate planning has focused on reduction of estate... -
IRA Charitable Donations: An Alternative to Taxable Required Distributions You can make cash donations to IRS-approved charities out of your IRA using so-called "qualified charitable distributions" (QCDs). This strategy may be advantageous for high-net-worth individuals who have reached age 70 1/2. It expired at the end of 2014, but QCDs were made permanent for 2015 and beyond under the... -
In the News: John Outlines Six Steps to Ensure Peace of Mind for Those Approaching Death In his Kiplinger article "Six Estate Planning Tips for Those Approaching Death," John Goralka outlines six actions an individual should take to ensure peace of mind for themselves and their family facing impending death or serious illness. Having an attorney in fact that you can trust while you are still... -
In the News: John Explains Estate Planning for an Aging Population Are You Financially Prepared for Retirement? In Penton’s Wealth Management’s July e-newsletter, John Goralka discusses the obstacles that come with a long lifespan in his article “Estate Planning for an Aging Population.” As Americans are living longer, it’s essential to financially prepare for retirement. Individuals who fail to plan accordingly... -
In The News: John Explains 3 Key Takeaways from Prince's Estate-Planning Mistakes Prince may have sung that "Money Don't Matter 2 Night," but it's clear that the $300 million estate he left behind matters quite a bit. Since Prince didn't plan his estate, his family and loved ones are stuck with the headache of probate proceedings. Between the current federal estate tax... -
In the News: Identifying the Key Values to Include in a Legacy Estate plans don’t have to be limited to money and assets—they can also include core values and beliefs that individuals wish to pass on to their heirs. In order to leave a “value legacy” that promotes a family’s values, the first step is to identify exactly what these values are.... -
In the News: John Explains How B Trusts Can Be a Ticking Time Bomb Why B Trusts Can Be a Ticking Time Bomb Bypass trusts, also known as B trusts, are often used as a strategy to avoid estate tax. But because of recent changes in income tax and estate tax rates, families with B trusts should review their situation to ensure they’re not... -
In the News: John Explains How Retirement Inheritance Trusts Can Be a More Tax-Efficient Way to Pass on Retirement Funds Putting the Trust in Trusts Planning for retirement is one of the most common and daunting personal finance concerns for families. Parents want to ensure that their children are taken care of, but inherited IRAs can represent a significant tax burden. IRA minimum distributions can be "stretched out" over the... -
In the News: The “Value Legacy” You Plan on Leaving to Your Heirs To preserve and convey one’s value legacy, estate planning goes beyond money and even asset protection. For an estate to be truly effective and do more than just simply move money and assets from one generation to the next, it must accomplish three basic goals. In order to leave heirs... -
John Goralka Discusses California's Right-to-Die Law in The 'American Journal of Managed Care' On October 5, 2015, California Governor Jerry Brown signed the bill for the End of Life Option Act, which authorizes an adult who meets certain qualifications, and who has been determined by his or her attending physician to be suffering from a terminal disease, to make a request for a...