» estate planning

Fairfax, VA (Law Firm Newswire) August 10, 2016 – The opinion in the case of Thorsen, et al vs. Richmond Society for the Prevention of Cruelty to Animals (RSPCA) instructs lawyers and clients to be cautious regarding the drafting of Wills and other estate planning documents. The subject of the case is a Will that was prepared in 2003 for Alice L. Cralle Dumville, who wished to make certain that her husband from whom she was alienated, did not benefit from her estate if she died while her divorce was pending. Ms. Dumville requested that a lawyer, James B. Thorsen, […]


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Fairfax, VA (Law Firm Newswire) July 20, 2016 – Life insurance can be an integral part of estate planning in that it can help preserve wealth for posterity. In the case of an unforeseen death, life insurance can shield the testator’s family by replacing lost earnings. Additionally, there are many ways in which it can be used to take the place of wealth. For instance, if the testator owns real estate that has appreciated in value, or other assets, and would like to part with them without incurring capital gains tax liability, the testator could give the assets to a […]


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Fairfax, VA (Law Firm Newswire) June 23, 2016 – Given the disclosure that pop music icon Prince left no will, there has been a renewed interest in estate planning. His lack of estate planning demonstrates the importance of creating a will, or even a trust if privacy is important to the grantor. What is most surprising is the fact that Prince missed an opportunity to continue to engage in philanthropy and in discovering methods of releasing artists from restrictive recording contracts, two issues that were important to him. Instead of leaving his estate to his siblings, charities or other beneficiaries, […]


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Fairfax, VA (Law Firm Newswire) June 16, 2016 – Divorce can greatly affect spouses’ estate planning. Wills for each spouse are frequently created at some point for each spouse, especially if they have children. As couples are considering divorce, they may rethink whom they would like to be their beneficiaries and executors to reflect the fact that they are no longer married. In addition, they will have to perform another analysis of the gift and estate tax elements of their estate plan. Therefore, many couples who are contemplating divorce modify their estate planning documents while they are separated or shortly […]


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San Francisco, CA (Law Firm Newswire) June 8, 2016 – Attorney Michael Gilfix of Gilfix & La Poll has been recognized by San Francisco’s Legal Leaders as one of the Top Rated Lawyers of 2015. Gilfix was featured in San Francisco Chronicle’s supplement honoring lawyers who have received an AV Preeminent rating from independent ratings agency Martindale-Hubbell. AV Preeminent attorneys are those who have reached the heights of professional excellence and displayed the highest ethical standards. The ratings are compiled via a peer review system in which attorneys are evaluated by other lawyers and judiciary members in the United States […]


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San Francisco, CA (Law Firm Newswire) May 25, 2016 – A new estate planning law that went into effect on January 1 seeks to help California homeowners avoid the costly, time-consuming process of probate when leaving property to heirs. Bill AB139 was signed into law in September 2015 after previous efforts to pass the legislation failed for almost a decade. It introduces the Revocable Transfer on Death Deed (TOD) which allows individuals to transfer property to a beneficiary upon their passing without the need to set up a revocable living trust or sort out matters in probate court. Such deeds […]


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San Francisco, CA (Law Firm Newswire) May 10, 2016 – Michael Gilfix and Mark Gilfix of Gilfix & La Poll Associates, in partnership with Trusts and Estates Magazine, will present an informative seminar titled “The Benefits of Multigenerational Planning” on Wednesday, May 11, 2016, at 2 p.m. ET and 11 a.m. PT. The webinar is free and is available nationwide. The seminar will cover key issues for lawyers engaged in the practice of multigenerational planning. Michael Gilfix and Mark Gilfix will share their experience as a father-son team of estate planning attorneys. Multigenerational planning provides an innovative way for parents, […]


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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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Fairfax, VA (Law Firm Newswire) April 11, 2016 – The majority of people who remarry possess little or no knowledge about the legal and estate planning concerns that are relevant to a new marriage. They do not plan, and as a result, there can be much conflict and disorder in later years. Most individuals do not comprehend that marriage grants the new spouse considerable rights. In addition, they are unfamiliar with spousal elective shares, and have not thought about the effects of the remarriage after their death. People who are contemplating remarriage are advised to consult an attorney in order […]


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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) 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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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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Fairfax, VA (Law Firm Newswire) January 15, 2016 – The last thing that couples wish to think about is the possibility of the death of a spouse. However, failing to prepare for that eventuality can only make matters worse if it occurs. According to a NerdWallet survey of over 2,000 married adults, one in three couples is without life insurance. Among those who have life insurance, 43 percent state that they would not be financially ready if their spouse died. In order to offer some semblance of security for one’s family, there are some steps that couples can take to […]


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Virginia Beach, VA (Law Firm Newswire) December 21, 2015 – There are a number of options when preparing for long-term care, which will be needed by up to 70 percent of individuals age 65 or older, according to the Department of Health and Human Services (HHS). The HHS predicts that 20 percent will require long-term care for over five years. Long-term care can include 24-hour supervision or help with personal care and other responsibilities. Whatever kind of long-term care required, it is advisable to plan for one’s health and well-being long before retirement. Long-term care is usually defined as the […]


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Santa Clara, CA (Law Firm Newswire) December 18, 2015 – The Pacific Autism Center for Education (PACE) today announced that Michael Gilfix and Mark Gilfix of Gilfix & La Poll, longtime experts in the field of special needs planning, will present an informative and timely seminar on January 25, 2016 at 6pm at the PACE School. The program is open to the community at large. Topics covered will include: – Update on the ABLE Act: a tax favored bank account to supplement Special Needs Trust planning – Five myths or misunderstandings about Special Needs Trusts and asset protection – The […]


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Virginia Beach, VA (Law Firm Newswire) December 11, 2015 – When handling one’s estate planning, it is important to prepare the relevant documents and ensure that they can be accessed by trusted family members prior to one’s death. Such documents can include wills, health care directives, and lists containing passwords to online accounts. However, there are other less common items that some family members may need when their loved one dies. One such item is military discharge papers. John J. Scroggin, who manages a tax business and estate planning firm in Atlanta, knew that his father wished to be buried […]


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Harrisburg, PA (Law Firm Newswire) December 7, 2015 – The Harrisburg Pennsylvania law firm, Hazen Elder Law is now Hazen Law Group; a law firm that focuses on long-term care planning, guardianships, estate planning, asset protection, special needs planning and public benefits. The firm was founded by Marielle F. Hazen, and is considered to be one of the best law firms in the nation by U.S. News and World Report. The new name represents the firm’s growing portfolio of services that fall outside of “elder law” such as special needs planning and trusts and veterans’ benefits. Among the services they […]


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San Francisco, CA (Law Firm Newswire) October 14, 2015 – The Social Security disability fund is running out of money and faces a nearly 20 percent cut to benefits at the end of 2016, according to a Social Security trustees report released on July 22. Nearly 60 million people currently receive Social Security benefits. The Social Security Disability Insurance and Supplemental Security Income (SSI) programs are vital sources of income for special needs children. The budget cuts would immediately affect around 11 million people receiving disability benefits as of 2014. Other beneficiaries could see reduced or interrupted payments in the […]


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