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Perpetuating "Conflict of Interest" by Financial Companies

     As a member of the National Academy of Elder Law Attorneys (NAELA), we were alerted to a new regulatory law being proposed by the Obama Administration. It bears directly on your investments, which are determined by financial advisors for many of us. As an attorney, I must place the interest of my client first. I know ever Bar Association in which I have been affiliated requires this policy, ethically and legally. I could never place the interest of a law firm or company in which I'm affiliated before the client as an attorney.

Living Trust Schedules of Assets Ultimately Important

If you saw 60 Minutes on CBS Sunday night you had to be astounded by the absolute greed and thievery of life insurance companies. Many of them, mostly all of the large companies, are being sued in a class action for failing to pay death proceeds to deserving beneficiaries. Roughly $7.5 billion have been withheld by these large companies over the years although the companies were aware of the insured's death. All insurance companies have means to accumulate decedents' names, from a death role, which is checked daily through their database. A spokesman for the insurance companies stated that it as the responsibility of the beneficiary to make a claim. If no claim is made, the company basically continues to use the funds gained through premiums and further invest the proceeds and reap further dividend or interest benefits, as its own. It was also indicated that the companies would continue to use cash value in the policies to pay premiums even after knowing of the death of the insured. Unbelievable! If the proper authorities can't identify this within the definition of criminal felony theft, I don't know how it could be further defined.

Why Estate Planning With A Living Trust Is Critical For Minor Children

Why Estate Planning With A Living Trust Is Critical For Minor Children

Intentional Infliction of Emotion Distress by Trustee

Attention all of you Trustees of Living Trusts and children beneficiaries of the Trust- This case is a wake-up call. You know how you might want to punish a step-mother or step-father for becoming a life partner or spouse to your widowed mom or dad. Once the natural parent is out of the picture many times the kids and/or the Trustee exact some type of revenge on the step-parent. Well, you better take a listen to this California case.

Retirement Form Trumps Will or Trust

If you like gambling with cards, don't carry that over to your designated IRA or Retirement fund beneficiaries. We all know a full house trumps a straight in poker. But did you know this, a Retirement form trumps a Will or Trust? That's right. If you are considering the designation of your Retirement fund in a Will don't waste the ink. It won't work. There are cases in which a divorcee failed to change his or her Retirement fund beneficiary from a now divorced spouse.

Living Trust Administration on the Death of a Trustor Part 1

The following was written by Attorney Jack E. Stephens, for the professional manual, Rules of Trust Administration in California, regarding the admistration of a Living Trust on the death of a Trustor. This is Part 1 of an ongoing series. 

Estate Planning with Durable Powers of Attorney

       Many clients are confused regarding the use of Durable Powers of Attorney in their Estate Plan. In California we have two separate documents, the Healthcare Power of Attorney, known as the Advanced Healthcare Directive (AHCD). The Financial Power of Attorney is called the Uniform Durable Power of Attorney (UDPA).

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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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Monday-Thursday 9am-5pm
Friday 9am-1pm

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

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