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U.S. v. Harris

In a recent case that reached the United States Ninth Circuit Court of Appeals, the Court ruled that assets in Third-Party Spendthrift Trusts (Family Trusts) are not necessarily protected from creditor claims or federal liens against a designated beneficiary. What does this mean for California estate planning?

Perpetuating "Conflict of Interest" by Financial Companies - Revisited (Please See My Blog Posted On August 1, 2016)

President Trump signed an executive order which will ultimately nullify the new regulation which was to go into effect in April. That regulation would have required financial planners to place client's interests first in recommending products. As a result, the continual policies of allowing planners to recommend "suitable" products, even if they are more profitable to the planner will remain.

Your Living Trust is a Private, Confidential Document

Under California Law, your Living Trust is a private document. Unlike a Will, the Living Trust is not filed and made a public record on your death. No one has a right to see your personal private provisions except for very limited purposes. For example, the Assessor's Office may require a copy to ensure that a distribution is being transferred from a parent to a child to qualify for the exclusion of reassessment of property taxes. That is the extent of it --the Trust is not filed as a public record. When banks ask you for a copy of your Trust to arrange a Trust bank account you should give them your Certificate of Trust, not your entire Trust Agreement.

Utilize a Living Trust as Asset Protection from Medi-Cal Claims

     In a new law to go into effect January 1, 2017, a Living Trust may be utilized to protect assets from Medi-Cal claims for individuals dying after that date. This is a revolutionary law that elevates the advantages of a Living Trust in California to a new high. Previously, a Living Trust provided no protection from such claims - beginning next year it will.

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Stephens Law Group
12526 High Bluff Dr.
Suite 200
San Diego, CA 92130
Phone: 858-314-8847
Fax: 858-792-0806
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