Capital Gains Tax on Appreciated Assets Although the housing market has declined or leveled off for most of San Diego County, many homes continue to hold significant capital gain. With that in mind, it is important how you hold title to the home and how you transfer it to heirs. For example, if Jake and…
Many people believe that Living Trusts are only for the wealthy and “Trust fund” children/grandchildren. Living Trusts can be designed for anyone who owns assets, especially real estate. Because the home is normally a person’s most valuable asset, it should be owned in a Trust to avoid the awesome probate rules in California. If you…
We Must update all Transmutation Agreements for updated assets and portfolios. If you have signed a Transmutation Agreement, send us a schedule of your current assets. If you have not updated your Trust for DEFRA and have catastrophic illness concerns, we must do so. Give a copy of this Newsletter to friends and neighbors to…
Beware of unscrupulous annuity salesmen who pose as “Living Trust Consultants” who use the Trust as a hook to sell you annuities or other financial products. Once DEFRA is in place, I anticipate a plethora of notices regarding annuities to shelter assets and that scams will abound in this area once this law is implemented….
IRA Alert If you have an IRA with Vanguard be aware that it is changing their beneficiary designation policy in September 2008. It could cause unintentional beneficiaries receiving IRA funds on your death if you have different beneficiaries listed on various IRAs.
If you are advised to have an MRI or MRA by your doctor, you must determine if gadolinium will be utilized. Gadolinium is injected into the bloodstream to enhance the images. If you have kidney problems, gadolinium can cause nephrogenic systemic fibrosis (NSF). NSF is a debilitating, potentially fatal disease for which there is no…