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Estate Planning with Protective Inheritance Trust (PIT) Provisions

       Okay, you've got a child who doesn't understand marriage and is twice-divorced; a child who attracts lawsuits like teenage groupies to a rock star; or, a child who flirts with bankruptcy like a "hot" swimsuit model.

Estate Planning with the Home and Other Real Property

       Okay, put down the remote and give me 5 minutes. We need to talk about Estate Planning with your home and possibly other real property. Would you like the Court to take away your home; would you prefer to die in a lonely nursing facility and not in your home; would you care that a judge, who you don't even know, decides who gets your home at your death; would you want your children to pay extra, and unnecessary, property taxes on your home as part of their inheritance?

Estate Planning with Retirement Plans (IRAs, Roths, 401Ks, etc.)

       This subject led me to write a book in the late 90s called Avoiding Tax Traps In Your IRA which was endorsed by Kiplinger's Retirement Reports. In my research for the book, I discovered a minefield of tax traps which caused individuals to lose substantial money to taxes and penalties.

Estate Planning to Avoid Probate and Other Undesirable Court Proceedings

       Could I save you $112,000? I was sitting in a San Diego Probate Court several months after taking the California Bar and waiting for the results. I was astounded at the fact that a piece of property owned by the Decedent was being assessed statutory probate fees based on its fair market value (f.m.v.) of $1.3 Million. The reason being is that it had mortgages against it of a total of $850,000-- an equity of about $450,000. As I sat there I came to personally realize and exclaim to myself "California doesn't deduct debt in determining statutory probate fees!" No wonder these lawyers were anxious to probate an estate. This particular estate had been in probate about thirteen months. There were some estate tax issues to resolve so the attorneys were also asking for additional exemplary fees which were burdensome on the estate. The heirs sat in dismay as the Court granted request after request for attorney fees, CPA fees, appraisal fees, etc. This was only one of numerous probate accountings being heard by the Court that day. It goes on and on, almost every week of the year. Millions in probate fees being tallied annually. Unbelievable! But why? Why are the dockets filled with probate matters? Oh yeah, of course-- we are dealing with the real world here and the Estate Planning cancer called PROCRASTINATION.

Contact

Stephens Law Group
12526 High Bluff Dr.
Suite 200
San Diego, CA 92130
Phone: 858-792-0909
Fax: 858-792-0806
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Office Hours:
Monday-Thursday 9am-5pm
Friday 9am-1pm

Video of Jack Stephens' AV Preeminent Rating by Martindale-Hubbell

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