McDermott’s “Sensible Estate Tax Act of 2011″
McDermott Bill: “Making the Estate Tax Fair and Equitable Again” For Immediate Release: November 17, 2011 WASHINGTON, DC – Today, Congressman Jim McDermott (D-WA), a senior member of the House Ways and Means Committee, introduced the “Sensible Estate Tax Act of 2011” to restore fairness to the estate tax. It is the first estate tax...
Assets Subject to California Probate
Assets Subject to California Probate Following a death, you may find yourself looking for guidance about how to deal with all of the “stuff,” all of the estate assets. Sometimes it is easy to deal with the small things. Your daughter gets dad’s guitar and your son gets dad’s carved mahogany bar, done and done. But who...
What is California Probate?
Probate in California – What’s the Purpose? Probate. You’ve heard the word, but what is it? Here is a brief overview to let you know what triggers the probate process and what is involved to complete the journey. In general, probate is the court supervised collection of assets, payment of debts and expenses with the...
San Francisco Court Update: Source Indicates All Commissioners and 100 Clerks to be Laid Off
Massive layoffs face the San Francisco Superior Court and it appears Clerks and Commissioners will be hit very hard. I first related Ari Burack’s article on the Dire situation forecast for San Francisco Superior Court here. I then passed on the Court’s press release on this matter here. In what is becoming an unexpected series on this...
“The civil justice system in San Francisco is collapsing”
SEE UPDATE AUGUST 31, 2011 HERE SEE UPDATE JULY 26, 2011 HERE As a follow up to my recent blog regarding the crisis facing our courts, check out today’s press release confirming the impact of state budget cuts on San Francisco’s courts and employees. http://www.sfbar.org/forms/court-press/court-cuts-071811.pdf NEWS RELEASE Superior Court of California COUNTY OF SAN FRANCISCO...
Can You Benefit From a Trust Protector?
What is a Trust Protector? A trust protector is a person who has the authority to direct the actions of the trustee or trustees of an irrevocable trust. A trustee generally has broad sweeping authority to invest funds and distribute income and principal. In contrast, trust protector has limited authority to give instructions to the...
What is a GRAT?
What is a Grantor Retained Annuity Trust? Grantor retained annuity trusts or GRATS can, given the right circumstances, be an excellent way to pass wealth to future generations. The rules for GRATS are uncomplicated and are found at section 2702 of the Internal Revenue Code. The person creating the GRAT (donor) transfers money to an...
