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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In the News: John Explains How Retirement Inheritance Trusts Can Be a More Tax-Efficient Way to Pass on Retirement FundsPutting 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...
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In the News: The “Value Legacy” You Plan on Leaving to Your HeirsTo 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...
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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...
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In the News: How to Protect Inherited Retirement AssetsJohn Goralka Talks with ThinkAdvisor on Protecting Inherited Retirement Assets When planning for retirement, an individual may face the dilemma of deciding what to do if they have leftover retirement assets when they die. Many designate a beneficiary, like a child or a grandchild, to inherit the retirement account. During...
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The Benefits of a Q-Tip TrustIs a Q-Tip Trust Right For Your Situation? Depending on your situation, you may wish to include the odd-sounding "Q-tip trust" in your estate plan. The name derives from a special estate tax break for "qualified terminable interest property." An Extra Source of Protection for Your Children Q-Tip trusts are...
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Co-Trustees or Co-Personal Reps: A Good Idea? Or Recipe for Disaster?When drafting a trust or a will, you need to decide who'll be the trustee, or personal representative handling your estate when you die. Individuals who serve in these roles are fiduciaries with a duty to properly administer your estate. When selecting a trustee or personal representative, many people gravitate...
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20 FAQs about Required Minimum DistributionsThe rules for required minimum distributions (RMDs) can be bewildering, frustrating and potentially expensive to retirement savers and their beneficiaries. Avoid the Year-End Crush Taxpayers subject to required minimum distributions (RMDs) have until December to calculate and schedule RMDs from qualified plans and IRAs. It's not unusual for people to...
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When Should You Select a Professional Trustee?One of the most vital decisions to ensure preserved legacy and proper estate execution is electing the right professional or family trustee for investing and properly distributing your estate. Desirable characteristics of a trustee include being well-organized, well-rounded, and functionally capable of administrating your trust as provided by?the document, and...
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Medi-Cal Protection Planning: Asset Protection for SeniorsWhen a person enters a nursing home or skilled nursing facility and cannot pay, then Medi-Cal is usually the source of funds for payment. Medi-Cal is California's version of Medicaid. Medi-Cal is essentially a form of public health insurance which provides needed health care services for qualifying individuals. To qualify,...
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All Living Trusts Are Not the SameAll Living Trusts Are Not The Same! People generally understand that a living trust is the best estate planning vehicle for most people. However, not all living trusts are the same. In this short video John Goralka will provide insight on the complexity that goes into properly creating a living...
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What Do You Know About POLST (Physician Orders for Life-Sustaining Treatment)?POLST is a physician order (must be signed by a doctor) that helps give seriously ill patients more control over their end-of life care. Produced on a distinctive bright pink form and singed by both the doctor and the patient, POLST specifies the types of medical treatment that a patient...
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Dynasty Trust Provides a Bridge to Keep on GivingWith a properly executed estate plan, your wealth can be enjoyed by your children and even their children. But did you know that by using a dynasty trust, you can extend the estate tax saving benefits for several generations, and perhaps indefinitely? A dynasty trust can build a bridge that...