The Battle over Thomas Kincade’s Estate

Posted by on Sep 14, 2012 in Estate Planning, News | 0 comments Thomas Kincade, an American painter, died last year in California.  Kincade had previously seen an attorney and had an estate plan drafted which included a will and trust.  However, after his death his girlfriend produced two handwritten wills which made her the sole beneficiary of his estate.  Kincade’s wife and children were shocked by this development.  The holographic wills the...
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The “5 D’s” That May Necessitate a Change to your Health Care Directives

Posted by on Sep 12, 2012 in Estate Planning, News | 0 comments The American Bar Association Commission on Law and Aging has come up with an easy for client’s to remember to change their advanced health care directives or powers of attorney for health care.  They are as follows: Death of family member or friend: This may be the death of a family member or friend who you intended to be you attorney in fact for healthcare decisions, or an alternate.  It...
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The Fiscal Cliff and the Estate Tax

Posted by on Sep 11, 2012 in Estate Planning, News | 0 comments I have previously blogged about the expiration of the current estate tax regime.  The current law is set to expire on January 1, 2013.  However, a number of other taxing provisions are also set to expire at the same time.  Commentators and politicians have dubbed this the “Fiscal Cliff”.  Taxes will increase for most Americans and spending will be drastically reduced, including...
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The Estate Tax Does Not Accomplish What Is Intended

Posted by on Sep 6, 2012 in Estate Planning, News | 0 comments One of the major arguments in favor of the federal estate tax is that it generates revenue.  After all, the goal of any tax should be the generation of revenue.  Other interests should be secondary to that goal.  However, a report by the Joint Economic Committee argues that the Estate Tax does not generate revenue, it robs the Federal Government of revenue.  Proponents of the Estate Tax will...
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Can I Draft My Estate Plan Myself?

Posted by on Aug 30, 2012 in Estate Planning, News | 0 comments There are many companies offering do it yourself estate planning services.  You have probably heard the commercials on radio and television.  While some may chose to go this route, there are several possible pitfalls that could arise. When using a DIY product, you are basically checking boxes and the program is supplying the language and terms for the estate planning documents.  The first area...
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Things Change, Make Sure your Living Trust Keeps Pace

Posted by on Aug 27, 2012 in Estate Planning, News | 0 comments Trusts can last for decades.  Over time events may ( and most likely will) cause you to change provisions in your trust.  Perhaps your minor child is now an adult, the main beneficiary of the trust is deceased, or new additions to the family have changed your priorities. The first step to amending a trust is to look at the trust document itself.  Typically there will be a provision stating how...
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