In a recent California case, the California No Contest provisions in a Living Trust were tested. In Balian v. Balian decided in December 2014, the mother, Mary, created the Balian Family Trust designating her children and a Special Needs Trust for her daughters Patricia and Diane as beneficiaries. There was significant animosity between Patricia and…
In light of the recent U.S. Supreme Court case of Clark v. Rameker, creditors will begin to zero in on Inherited IRAs. What is an Inherited IRA? These are IRAs inherited by non-spouse beneficiaries. Typically, spouses rollover IRAs and become the IRA owner if they are designated as the beneficiary. But non-spouse beneficiaries do not…
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…