Will the Estate Tax Be “Sensible” in 2016?
Congressman Sander Levin (D-MI), ranking member of the House Ways and Means Committee, and other Democrats recently introduced a bill, H.R. 4996, to adjust the estate, gift and generation-skipping transfer taxes to more “sensible levels.” Hence, the bill was given the catchy name, the “Sensible Estate Tax Act of 2016” (the “Act”). Currently, a U.S... read more →
When Your Child Leaves for College, Don’t Forget to Pack Their Estate Plan!
High school graduation season has once again come and gone. Now the newly graduated high school seniors are looking to their futures, and many have plans to attend college in the fall. This is a very exciting time for them – the first step into adulthood. The checklist of things to bring with them to.. read more →
2015 Tax Benefit Increases
The Internal Revenue Service recently issued Revenue Procedure 2014-61, which sets forth the annual adjustments to tax benefits for the 2015 tax year. Notably: • In 2015, the highest income tax rate of 39.6 percent is imposed on single individuals whose income exceeds $413,200 ($464,850 for married taxpayers filing a joint return), an increase from.. read more →
We’re Hosting Breakfast!
Drucker Law Offices is pleased to announce that we will be hosting the breakfast on Friday morning, October 17, 2014 at the 34th Annual Southern California Tax & Estate Planning Forum. The 34th Annual Forum will be held in San Diego, California from October 16th through October 18th at the Manchester Grand Hyatt Hotel. This.. read more →
Estate Planning is Not a DIY Project
Weekends, for many, are the time to engage in “Do It Yourself” (DIY) projects. Not only does working on a DIY project give you a sense of accomplishment, but it also allows you to save the money that you would otherwise spend to hire someone to do it for you. Most DIY projects are practical.. read more →
To Be or Not to Be. . . the Trustee: That Is The Question Donald and Shelly Sterling Have Posed to the Probate Court
In Act III, Scene i of Shakespeare’s Hamlet, Hamlet gives his famous soliloquy beginning with “[t]o be or not to be: that is the question” where he ponders the morality of suicide. Donald and Shelly Sterling are not contemplating the lofty issue of life versus death at this time, but the financial issue of who has.. read more →
The Battle to Control Casey Kasem’s Health Care
A colorful clash among members of Casey Kasem’s family has made news headlines lately over the issue of who is entitled to make health care decisions for the ailing 82-year-old radio and television icon. Casey suffers from Lewy Body Dementia, a disease similar to Parkinson’s Disease, which causes a progressive decline in cognitive abilities. The.. read more →
The Day the Music Died
As I sit here writing this blog article, I’m listening to the songs on my iTunes account, and it reminds me how far we have advanced technologically since I was a kid when there was no iTunes in existence. Instead, at that time, everyone collecting music had vinyl records. I started my own record collection.. read more →
The Supremes Embrace Equality
This morning, the Supreme Court announced its decisions in two prominent cases dealing with same-sex marriage: United States v. Windsor, Executor of the Estate of Spyer, et al., 570 U.S. ___ (2013), and Hollingsworth et al. v. Perry et al., 570 U.S. __ (2013). The Court ruled in favor of marriage equality in both instances. .. read more →
Don’t Forget to Update Your Beneficiary Designations
What do IRAs, 401(k) plans, life insurance policies, and pay-on-death accounts all have in common? Each of these assets is transferred on the insured’s or account owner’s death to the person or persons designated as a beneficiary of the insurance policy or the account. In California, these type of assets are not subject to a.. read more →