Our EstatePlanner Documents Organizer

Our EstatePlanner Documents Organizer
The EstatePlanner is a comprehensive estate planning and documents organizer system.This useful financial tool is the easy and efficient solution to enable your heirs to quickly locate all your important legal documents and information, and to settle your estate quickly and inexpensively. It consists of 150 pages of tabbed forms, planning checklists, and estate planning information, all housed in a deluxe 3-ring binder. It comes with an instructional CD recorded by Mr. Loveridge to help you use it effectively. $79.95 + s/h. For more information, see our posting for November 28, 2008, below. To order, call us at (801) 262-8889, or email us at emarel@comcast.net. Free Bonus when you order The EstatePlanner: Mr. Loveridge's 172-page estate planning course, "How To Avoid Probate, Death Taxes, and Family Civil War!"

Wednesday, January 30, 2013

$7M in gold coins found in intestate man’s garage will be auctioned at courthouse.   http://www.abajournal.com/news/article/courthouse/?utm_source=dlvr.it&utm_medium=twitter.

There's got to be a better way to store this kind of asset and pass it to heirs!

Monday, January 28, 2013

Control your "digital assets!" The widow of one of my clients recently told me that her husband had left a significant stamp collection, which he had meticulously cataloged according to rarity and estimated value. However, that information, needed to facilitate appraisal of the stamps and establish their tax basis for the family, was "safeguarded" on his personal computer, and he had died without leaving his wife his computer password! She was unable to access his computer information or his other password-protected websites and was forced to hire an expensive computer "hacker" to obtain the needed information.  The "hacker," however, adhering to law and ethics, insisted on verification that my client was legally entitled to access that information; he viewed the computer and its contents as an asset of the husband's estate. Although we were able to provide this without the need to probate the computer (!), it still indicates the need we all have to secure this information while we're alive and to make it easily available if we die. (One place to log our passwords is Section 8  (Miscellaneous Information) of the EstatePlanner Portfolio.)      

Friday, January 25, 2013

Update your estate plan! Here's an extreme example of what can happen to your estate if you don't update your planning! Sir Peter Ustinov's estate has helped improve the financial security of the legal profession! (His will, signed 36 years before his death, was declared invalid by the court.) This real-life case reminds me of the famous fictional case, Jarndyce v. Jarndyce, a fictional legal case in Dickens' novel, Bleak House, which drags on for so many generations that legal costs devour the entire estate!


Thursday, January 24, 2013

Beware Of Asset Protection Scams! Worried about "asset protection?" Here's an excellent article which helps you keep the issues in perspective: http://www.forbes.com/sites/toddganos/2013/01/20/beware-of-asset-protection-scams/

From the article: From the article: "In reality, the specific way that asset prot protection/risk management should be implemented for any person will be wholly dependent on that person’s specific objectives and circumstances. The solution should attempt to integrate asset protection/risk management issues, estate planning issues, tax planning issues, etc. You should question anyone who fails to do this."

For many people, the only "source" of a potential lawsuit is injuring another at their home or by their vehicle. Note the author's inexpensive, "common sense" solution most of us can use to protect our assets: An "umbrella" policy. See your homeowners insurance agent for more details.

Thursday, January 10, 2013

Applicable Exclusion Amount $5.25 Million for 2013 Deaths

IrsGood news! The federal estate tax exemption will remain $5.25 million for individuals dying in 2013 ($10.50 million for couples).  This amount will INCREASE annually, adjusted for inflation. If you and your spouse have signed trusts with "A-B" trust provisions (assets split into "Marital and Family" trusts at the first spouse's death), and your estate is significantly below $5.25 million in value, you should call us to discuss amending your trust to remove these provisions. We'll be happy to explain the "pros and cons" of doing so. 

Friday, January 04, 2013

An Annual Estate Review Can Pay Off! One of my former clients recently died but failed to convey some of her real estate to her trust. She established her trust twelve years ago, but had not contacted us for a review in all that time!  Her property, located in California, is now subject to probate; California lawyers are quoting her heirs between $10,000 and $15,000 to do the probate. Pretty expensive compared to our office's annual review fee of $79! We can't help you if you don't contact us! 

Thursday, January 03, 2013

2013 Changes in estate tax law! Congress has finally set the estate tax exemption at $5,250,000 per person, or $10,500,000 per married couple. See the following for details: http://www.jdsupra.com/legalnews/gift-and-estate-tax-changes-in-the-ameri-03265/

Couples who are worth less than $5,250,000, and who have "A-B" (i.e., "Marital Deduction") trusts, may need to revise their trusts to remove unnecessary estate tax provisions. Contact our office for more information and to see if you are affected by the new law.