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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Why It Is Important to Start Planning for Your Estate EarlyThe sooner you plan, the more prepared you'll be for life's unexpected twists and turns. You can start now, regardless of your net worth. You might still be paying off student loans or credit cards for the foreseeable future. Surprisingly, your net worth is not the deciding factor in getting...
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In the News: John Goralka Authors Born2Invest.com Article “Digital Assets and Your Estate Plan”. Learn How You Can Protect Your Digital Assets in Your Estate PlanIn today's digital world, most of our financial transactions and communications occur online. Photographs, websites and internet profiles are now almost expected for all of us. Without specific provisions in your estate plan and careful planning, access to this critical information can become difficult for your family or loved ones....
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The Goralka Law Firm Partnered With Alliance Title and Estate Planning Source to Host the Estate Planning and Trust AcademyOn April 11th, 2017 the Goralka Law Firm hosted the Estate Planning and Trust Academy. This full-day, educational event included presentations from John Goralka as well as Marty Jensen of Alliance Title and Geri McHam of the Estate Planning Source. Topics included the basics of comprehensive estate planning, how to...
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Guidance on California's End of Life Option Act: John Goralka and Kiran Dhillon Author Los Angeles Lawyer ArticleAfter 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...
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In the News: 10 Ways to Prevent a Family Dispute Over InheritanceA 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...
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Estate Planning: Learn How the 'Step-Up Basis' Tax Rules Work and Reduce Taxes on Capital GainsWhen 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...
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IRA Charitable Donations: An Alternative to Taxable Required DistributionsYou 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...
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In the News: John Outlines Six Steps to Ensure Peace of Mind for Those Approaching DeathIn 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...
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In the News: John Explains Estate Planning for an Aging PopulationAre 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...
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In The News: John Explains 3 Key Takeaways from Prince's Estate-Planning MistakesPrince 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...
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In the News: Identifying the Key Values to Include in a LegacyEstate 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....
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In the News: John Explains How B Trusts Can Be a Ticking Time BombWhy 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...