Vanessa Terzian E: vterzian@lagerlof.com PH: 818-864-6174 | Edward Terzian E: consultation@inheritancerecovery.com PH: 818-579-2358
A good asset protection plan puts dangerous assets in limited liability companies (LLCs). There should be a separate LLC for each dangerous asset in order to insulate your other assets from liability arising from this dangerous asset. By insulating the asset with its own LLC, only this asset will be taken if a judgment arises…
DetailsMost estate plans include a last will and testament (often just referred to as a “will”), general durable power of attorney, health care power of attorney and health care directive to physicians (also known as a living will). Trusts are extremely powerful and also flexible agreements that are also often used in estate planning. Common…
DetailsThe Need for Planning One of the greatest fears of older Americans is that they may end up in a nursing home. This not only means a great loss of personal autonomy, but also a tremendous financial price. Depending on location and level of care, nursing homes cost between $35,000 and $150,000 a year. Most…
DetailsWhat are AB/Marital Bypass Trusts? These living trusts are often set up by those with larger estates that may be charged federal estate taxes on the death of the asset holder(s). They basically allow an estate to bypass the taxation and probate processes by removing ownership of assets from individuals and putting them into a…
DetailsREVIEW OF 2011-2012 ESTATE TAX AND GIFT TAX LAWS After much debate and last minute shenanigans, the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act (“TRUIRJCA” or “TRA 2010” for short) was signed into law by President Obama on December 17, 2010. This new law provides sweeping changes to the rules governing federal estate…
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