» Estate Planning Law

San Diego, CA (Law Firm Newswire) April 26, 2016 – Paula Oliveira Brunoro is now a member of a very exclusive list. She has recently been chosen for the prestigious designation BEST OF THE BAR 2016 by San Diego’s legal community. Ms. Brunoro already has an outstanding reputation as a highly skilled business and tax attorney with extensive experience assisting a wide range of domestic and international clients. Her unusually diversified talents, including fluency in Spanish, French and Portuguese, have clearly brought her respect and admiration from her colleagues, since those selected as the BEST OF THE BAR 2016 are […]


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Roseville, CA (Law Firm Newswire) April 25, 2016 – It is imperative that people understand the consequences of holding title to assets and that the ways in which the owner holds title can greatly impact the transfer of the property upon the owner’s death. Some individuals choose to add an agent to an account when they are depending on that person to help with the management of their finances. This method does not provide the agent with any ownership rights or name the agent as a beneficiary. However, it grants the agent permission to act on behalf of the owner […]


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Virginia Beach, VA (Law Firm Newswire) April 19, 2016 – Many estate plans fail to consider the fate of items that do not necessarily have great monetary value, but have much sentimental value to the heirs. Such was the case in the estate of comedian Robin Williams, whose children and third wife were fighting in court over possession of specific sentimental items, such as the tuxedo he wore at his wedding. Mr. Williams bequeathed to his three children the clothing, jewelry and personal items he had accumulated prior to his third marriage, and that appears to include his tuxedo. However, […]


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Palo Alto, CA (Law Firm Newswire) April 18, 2016 – As part of an ongoing commitment to community education around topics related to aging and long-term care, Home Care Assistance is hosting a public webinar led by Mark Gilfix on Thursday, April 21st at 10 AM Pacific, 1 PM Eastern. Home Care Assistance, the premier provider of in-home care for seniors, is excited to announce the next webinar in its widely acclaimed Healthy Longevity Series, “A Will is Not Enough: Everything You Need to Know About Estate Planning”, led by Mark Gilfix, Attorney at Gilfix & La Poll Associates and […]


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San Francisco, CA (Law Firm Newswire) April 14, 2015 – Attorney Mark Gilfix of Gilfix & La Poll Associates was featured in the April 2016 issue of The ElderLaw Report: Including Special Needs Planning. The national publication reports on key developments in elder law and provides practical solutions to the unique legal challenges the elderly population faces today. In his article, titled “Technology Innovation and Long-Term Care: Report From the Aging 2.0 Expo,” Gilfix focuses on the relationship between elder care and technology. In this context, he shares insights he gained from attending the Aging 2.0 Technology Expo held in […]


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Virginia Beach, VA (Law Firm Newswire) April 12, 2016 – Childless couples can face certain challenges with respect to estate planning. It may be difficult for couples to select the person who will make decisions on their behalf in the event of their incapacity and upon their death. They may also not know to whom they should leave their assets. As a result, they may fail to engage in any estate planning at all. If there are no powers of attorney, and one or both spouses become incapacitated, in all likelihood, the state will mandate that the family file for […]


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Virginia Beach, VA (Law Firm Newswire) April 5, 2016 – A significant part of an estate plan can be the designation of a person’s IRA beneficiary. If an IRA account owner does not name a beneficiary, their heirs could be required to pay more income and estate tax than necessary following their death. It is recommended that an account owner modify IRA beneficiary designations to suit their objectives. Usually, people name their spouses, children or grandchildren as beneficiaries. Another possibility is to designate a trust, a charity, or a group of persons, trusts or charities. Following the account owner’s death, […]


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Virginia Beach, VA (Law Firm Newswire) March 31, 2016 – Some retirees and former employees have received offers from their employers to accept a lump-sum payment of their pension. This is an offer that they must consider very carefully because it will entail a loss of income for the rest of their life, and they will be in charge of managing their own investments and ensuring that the funds last through retirement. The IRS and Treasury made an announcement in July 2015 that they would forbid companies from offering lump-sum payments to retirees who were already getting a monthly pension. […]


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Virginia Beach, VA (Law Firm Newswire) March 24, 2016 – Under Virginia law, a trustee has the power to assign the trust principal or income to the trustee of a second trust. This is called a decanting power, which does not require the approval of the court or the beneficiaries. For instance, a trustee could assign the assets of a previous trust to a new trust that has up-to-date provisions. A decanting power can also be used to add a trust adviser or trust protector, replace the trust situs, appoint a different trustee or alter trustee succession provisions. Additionally, it […]


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Roseville, CA (Law Firm Newswire) March 16, 2016 – Last fall, California Governor Jerry Brown signed into law an End of Life Option Act, which has not yet taken effect. Brown said he decided to sign the bill after he envisioned himself with a terminal illness. It is unknown when the new law will become effective. Reports have stated that it could take effect by April 2016, or by March 1, 2017. As a result of California’s passage of the bill, it has been predicted that eventually, one in 10 Americans will reside in a state that has a right-to-die […]


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Fairfax, VA (Law Firm Newswire) March 14, 2016 – Legendary pop music icon David Bowie, who recently died at the age of 69 of liver cancer, exercised much creativity concerning his estate planning in an effort to preserve his assets for his family. It was reported that he experienced financial problems in the 1970s and 80s, almost to the point of bankruptcy. However, in the 90s, he took charge of his finances by selling an interest in his archive of music. Investment banker David Pullman was instrumental in helping Bowie develop “Bowie Bonds,” which permitted him to sell a 10-year […]


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Virginia Beach, VA (Law Firm Newswire) March 2, 2016 – Many baby boomers expect to work for a longer period of time and would prefer a phased retirement in which they gradually reduce the number of hours they work and/or work remotely. Therefore, they are seeking assistance from an increasing number of firms that concentrate on placing older workers in part-time and temporary positions in certain industries. While some jobs can be performed in the office, others can be completed from home or another remote area. According to a retirement study conducted in 2013, almost half of the participants expressed […]


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Virginia Beach, VA (Law Firm Newswire) February 29, 2016 – An estate-planning method that was one time frequently used was an irrevocable trust that held a life insurance policy, with the objective that the death benefit be used to pay estate taxes. This technique permitted the policy’s benefits to be applied toward payment of the estate taxes of the individual who died without inclusion of the policy in the estate. Although this method remains useful, it is not as common because the threshold for being affected by the estate tax has increased to such a degree that only the affluent […]


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Virginia Beach, VA (Law Firm Newswire) February 25, 2016 – Many retirees are considering putting their home on the market and moving to a less expensive area. Two married couples did exactly that when they left their homes in Maryland and moved to Florida. Barbara and Mike West made the decision to sell their home in a suburb of Maryland that they had owned for 26 years. Encouraged by a desire to escape the Mid-Atlantic winters, they thought about relocating to Hawaii, where they had resided during Mike West’s time in the Navy. However, they concluded that it was too […]


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Virginia Beach, VA (Law Firm Newswire) February 18, 2016 – Although retirees’ health-care expenses are often high, there are options to handle their potential medical expenses. In a study conducted by Fidelity Investments, it was revealed that in 2014, a couple aged 65 would have required $220,000 to pay for health-care costs in their retirement years, excluding skilled nursing care. According to the American Council of Life Insurers, the average annual cost of care in a nursing home is approximately $81,000, with 2.6 years as the average time spent in a home by an elderly female patient, and 2.3 years […]


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Roseville, CA (Law Firm Newswire) February 11, 2016 – Special needs trusts (SNTs) are established for beneficiaries who are physically or mentally disabled. They are drafted in such a way that the beneficiary can reap the benefits of property that is held in trust for them while simultaneously maintaining eligibility to receive needs-based government benefits. The three kinds of SNTs are first-party, third-party and pooled trusts. First-party SNTs are used to hold property owned by the person with special needs, and are established by the disabled person’s parent, grandparent, conservator or the court. These trusts apply in cases in which […]


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Fairfax, VA (Law Firm Newswire) February 11, 2016 – One of the best things a person can do in the New Year is put their legal affairs in order. This is because life is so unpredictable, and it is impossible to know if and when someone might become incapacitated and unable to manage their own affairs, including taking care of their children and making decisions concerning health care. The estate planning process can include a will that identifies the beneficiaries of assets upon the testator’s death, and specific documents that will help loved ones make important decisions in the event […]


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Harrisburg, PA (Law Firm Newswire) January 29, 2016 – The Internal Revenue Service (IRS) has relaxed its regulations for new accounts that will permit people with disabilities to save money without risking loss of their government benefits. In 2015, the IRS proposed rules governing how accounts created under the Achieve a Better Life Experience (ABLE) would function. However, the agency met with a considerable amount of opposition from disability advocates and state officials who stated that the proposed rules would be unduly onerous. In response, the IRS has issued preliminary guidelines pending release of the final regulations that include less […]


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Virginia Beach, VA (Law Firm Newswire) January 26, 2016 – The majority of individuals who purchase life insurance wish to replace their income should they die prematurely. They can choose a term plan that ends upon retirement. Another option is to pay for retirement by using a permanent life insurance policy, and withdrawing funds from the plan’s cash reserve. However, there are possible drawbacks when using this strategy. According to experts, whole life insurance may not be an appropriate investment vehicle because it is costly and not liquid. “When considering retirement planning, it is important to obtain sound investment advice […]


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Fairfax, VA (Law Firm Newswire) January 22, 2016 – Those who have blended families can face difficult estate planning issues. They may wish to leave a portion of their estate to their current spouse and their children, their children from prior marriages, and in some instances, their children from their spouses’ prior marriages. It can be a daunting task to provide for all members of one’s family. It is best not to depend on a spouse and children to work things out because there could be family arguments and possible litigation following one’s death. There are some estate planning vehicles […]


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