The Tax Cuts and Jobs Act, passed at the end of 2017, significantly alters many of the deductions to which we have become accustomed. CPA’s and financial planners continue to unravel the new laws but one of the new changes is clear. The new tax law will reduce the tax benefit of charitable giving for many individuals. However, the changes…
Lisa studied her late son’s will and frowned. “To my mother and father, George and Lisa Cummings, I bequeath the contents of my wallet, to be found at Coinbase.” “George, you ever heard of a place called Coinbase?” George shook his head. “No. What about it?” “Well, according to Danny’s will, he left his wallet there and we inherit the…
Susan stared at her father’s Last Will and Testament and groaned. “I know I am supposed to be the executor of Dad’s will, but some of this makes no sense.” “How so?” asked her husband, Tom. “Well, he makes these very specific bequests of airline miles and hotel points, even credit card reward points. But I’m pretty sure all of…
There are several kinds of disability income benefits available to a worker who becomes unable to work due to an injury or illness. This article focuses on private disability insurance policies or plans provided by employers that are governed by a federal law known as the Employee Retirement Income Security Act of 1974 (“ERISA”). Applying for long-term disability benefits under…
There are many different kinds of revocable living trusts out there. It’s not really important that you understand much about all the difference kinds, but it is important that you understand what kind you have. This article is focused on trusts for married couples, and in particular on what the trust says must happen when the first spouse dies. There…
In this episode of Absolute Trust Talk, Kirsten welcomes Walnut Creek copyright law expert Kelley Way into the studio. This Walnut Creek native, wanted to practice copyright law since she was in high school, as two of her biggest passions are books and music. She fell in love with copyright law after resolving a case for her first ever client…
One of the things we do at Absolute Trust Counsel is assist families with a disabled senior to preserve assets and also become eligible for Medi-Cal assistance to help them pay for nursing home care. One of the tools we often use to do this type of planning is an irrevocable trust. We also sometimes have to help families who…
Once a trust becomes irrevocable, either because it was originally created that way or because an event has occurred, such as the death of the grantor, that causes the trust to be irrevocable, we are pretty much stuck with that trust as it is, right? I mean, irrevocable means irrevocable, doesn’t it? Not necessarily. Trusts that are irrevocable can sometimes be…
