Vanessa Terzian E: vterzian@lagerlof.com PH: 818-864-6174 | Edward Terzian E: consultation@inheritancerecovery.com PH: 818-579-2358
One of the chief concerns facing owners of family or closely held businesses is how to effect an orderly and affordable transfer of the business to the next generation or a key employee. That objective, given adequate time and proper planning, can be accomplished easily and often profitably. But as most business owners know, seldom…
DetailsElder abuse comes in many different forms – physical abuse, emotional abuse, or financial abuse. Each one is devastating in its own right. Many times, sadly, as with my situation, the elder abuse involves a family member. When that happens, you feel scared, disappointed, angry, and you can’t believe this is happening to you. You…
DetailsClients frequently ask “Can I change my living trust by crossing things out and writing in new parts? The California Court of Appeals answered that question last week: not if you want your changes to stick. In Cory v. Toscano, the person who created the trust gave “(a) To Elaine [last name omitted here for…
DetailsCommon purposes for trusts include: Privacy. Trusts may be created purely for privacy. The terms of a will are public and the terms of a trust are not. In some families, this alone makes the use of trusts ideal. Spendthrift Protection. Trusts may be used to protect beneficiaries (for example, one’s children) against their own…
DetailsWith a federal exemption of estate taxes and gift taxes through 2012 of $5 million per person, significant planning strategies may be completed within the next year and a half in order to save a significant amount of funds for future generations. There are challenges in making these decisions, however, as oftentimes you must relinquish…
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