The coronavirus outbreak has resulted in thousands of lives lost, halted the global economy, and plunged markets into recession levels. There is not an abundance of good news right now, but there are some silver linings if you are wise in your estate planning. Certain opportunities arise under circumstances when investments lose a significant value over a relatively short period of time. Here we will discuss why now is a good time to make gifts in the form of stock market assets. In addition, … [Read more...] about Does COVID-19 Have a Silver Lining for Estate Plans?
New Tax Law and COVID-19 Relief Law Bring Changes to Your Retirement Plan Options
The Setting Every Community Up for Retirement Enhancement (“SECURE”) Act and Coronavirus Aid, Relief, and Economic Security (“CARES”) Act have brought about changes that affect your retirement plans and retirement planning options. Many of these changes are positive developments for individuals saving for retirement or looking to access their retirement plans during this financial crisis. Other changes negatively affect our estate planning clients with large IRAs and other retirement plans who … [Read more...] about New Tax Law and COVID-19 Relief Law Bring Changes to Your Retirement Plan Options
Coronavirus Causing Legitimate Financial Concerns
The coronavirus pandemic has stimulated many people to take steps to assure their finances and estate plans are up to date and express their current wishes. If you have never completed your estate plan or if it has been a few years since you last had your estate plan reviewed, we can give you some peace of mind that your finances are in order. Call our office at 951-787-7711 now to schedule your appointment. WAYS TO CONDUCT YOUR MEETING WITH US In-Person Meetings at Our Riverside … [Read more...] about Coronavirus Causing Legitimate Financial Concerns
Working from Home? Tips & Tricks from Our Team
In the wake of shelter in place orders, our teams moved to a virtual workplace that is physically located in each of our homes. Working from home presents a new set of challenges, and I am happy to say that we have all risen to the occasion. We’ve rounded up tips and tricks from our attorneys, paralegals, and support staff that help us stay centered, focused, and productive. Tech Tip: Two Computer Monitors in One! “Now that I’ve gone from using two monitors at the office to just one … [Read more...] about Working from Home? Tips & Tricks from Our Team
Ask Dennis about Joint Tenancy Deeds
Dear Ask Dennis: I own a house as the result of being the sole surviving joint tenant. One of my brothers is threatening to put the property into probate (our parents were the other joint tenants, they are both deceased.) what would happen to him if he tried that? J. C. Dear J. C.: That is a very interesting question. Unfortunately, in order to answer it I need to ask you some questions. What was the mental condition of your father or mother at the time the joint tenancy deed was … [Read more...] about Ask Dennis about Joint Tenancy Deeds
Ask Dennis about Financial Elder Abuse
Dennis: My husband's father died 6 years ago. His sister sold his home, my husband received nothing from the sale. It sold for approximately $440,000. She lived in the house approximately 8 yrs free of charge after placing their father in a nursing home. My husband was supposed to have a medical trust fund but we were recently informed there was not one. There was no money for his medical needs. Two weeks later when I finally was able to make contact with her she informed me she would be … [Read more...] about Ask Dennis about Financial Elder Abuse
Ask Dennis Sandoval about a Power of Attorney
Dennis: My sister and I are joint power of attorney for an incapacitated aunt. Her condo will be going up for sale. My sister sold and donated some of her house items, jewelry and furniture. She and my mother took the money for what was sold. Are they entitled to this? Doesn't the money need to go into my aunt's bank account? If they kept the items from her house like jewelry are they allowed? If they don't sell it what do they do with it? Also, I am the executor of the will but I don't think … [Read more...] about Ask Dennis Sandoval about a Power of Attorney
Can My Non-Citizen Spouse Inherit from My Estate?
Over the last several decades, however, national borders have all but disappeared, leading to a dramatic increase in cross-border marriages in the United States. In fact, the United States Census Bureau reports that one in five marriages in the U.S. today includes a spouse born outside the U.S. Of those marriages, about 60 percent of the foreign-born spouses have become naturalized citizens, leaving the remaining 40 percent as non-citizens. If you are married to a non-citizen, estate planning … [Read more...] about Can My Non-Citizen Spouse Inherit from My Estate?
Planning for Step-Children
Planning for Blended Families Many of our clients are blended, with children of the husband, children of the wife and/or children from both spouses. Estate planning for blended families can require special planning. You may consider your step children to be your own. But, if you haven’t adopted them, they have no inheritance rights. Below is a link to an excellent article from the American Academy of Estate Planning Attorneys about estate planning involving step children. Planning for … [Read more...] about Planning for Step-Children
Ask Dennis
Hello Dennis, My father in law appears to be getting dementia and his son needs to make decision. He lease an apartment and he wants his son to be able to make decision regarding rental, handling his bank accounts and medical issues. Will a Durable power of attorney be enough. Or does he need to be a Conservator? Thank you for your time. L. B. Dear L.B.: If your father-in-law has sufficient mental capacity at this time to execute a financial power of attorney, that would be an … [Read more...] about Ask Dennis
