Many seniors are thinking they can avoid probate, reduce their estate and directly gifting their home to their children with a quick claim deed or just add their name to the deed. This can be done, BUT!!... giving away your residence can have major tax consequences, among other possible estate problems if it is not transferred properly!  Transferring property with a value over $14,000 in any one year requires you to pay a gift tax. However,

If you are over the age of 18, there are MUST HAVE documents in case of emergency or incapacity.  You must have an Advanced Medical Directive and HIPAA Release Form in case of medical emergencies! The Federal government waived the HIPAA laws in Orlando,  so family members could speak with Orlando Hospital staff to find out if the victims of the Pulse nightclub shooting were in the care of hospital staff. In most cases the Feds will not waive

No one wants to think about what happens if they should suddenly die! But one of the things every person over 18 and especially if they have an estate should definitely get their affairs in order just in case! An estate does not mean millions of dollars of assets, like Prince had, but if you have a house and retirement account you need to talk to an estate attorney that can help you avoid probate, and assign who will help manage your affairs

Understanding the pitfalls associated with special needs planning is a must for all who assist families with  loved ones with special needs. At LA Law Center, PC we want to make sure any family with these concerns know what they need to know to protect their loved ones.There are many misconceptions that may become very costly in the future as fiscal pressures cause state and federal governments to cut back benefits for people with disabilities.

Some people make resolutions, some begin some spring cleaning and organizing, and others just strive to do things better than last year! What many people are not thinking about, and probably should be, is setting up a plan to protect his or her family with an estate plan, will or trust.  Do not wait for a new year... do it now while you are thinking about it...or at least determine what you want to happen with your assets if you are no longer

Happy birthday!... Now get your act together!!! In 2016 the first baby boomers will reach age 70. I can not believe it! If you are looking at the big 70 this year, you have critical decisions have to be made that will affect your retirement. These are critical  decisions that you won’t want to forget. 1) Social Security. Sign up if you have not done it yet! Now is the time to receive the maximum benefit from Social Security. There is no

Many years ago, when someone passed away, there were family and friends to notify and a couple of bank accounts to close and maybe a house to transfer to family, well it today it is a different story! Hopefully you have left a list of passwords so your trustee or executor can help with many online issues. In 2016 there are many things that need to dealt with when you leave this earth.  Every year in this technology era you may add new online

Today in 2015, it is a very different time than ever before when it comes to seniors and proper planning.  In particular Americans are thinking about their retirement and how they will survive their golden years.  Being in Los Angeles with the high cost of living this is even more of a concern! There are many strategies to be considered for seniors for retirement and for long term care planning.  I thought this article was an informative one