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The Latest from Susan Katzen

Legal Planning Steps to Take When a Loved One Enters Hospice Care

Posted by Susan Katzen | Mar 12, 2023 | 0 Comments

When a loved one enters hospice care, it can be a difficult and overwhelming experience. One of the most important things to consider is estate planning—which can help ensure that your loved one’s wishes are honored and surviving family members are financially cared for. The following steps can help caregivers more smoothly navigate legal issues that arise during the end-of-life process.

The Law Office of Susan A. Katzen Named a 2022 Law Firm 500 Honoree

Posted by Susan Katzen | Mar 06, 2023 | 0 Comments

We are pleased to announce that our law firm has been named a 2022 Law Firm 500 Honoree awarded to the Fastest Growing Law Firms in the US. Although this recognition is calculated on growth, it could not be possible without the continued operational excellence and commitment to client service exhibited by our team each and every day. 

Strategies to Safeguard Assets for Spouses When Facing Long-Term Care

Posted by Susan Katzen | Feb 22, 2023 | 0 Comments

You worked hard to provide for your spouse throughout your marriage, and you want to continue to do so well into your retirement years. When the need for nursing home care or assisted living is on the horizon, the cost of such care can weigh heavily. The good news is that asset protection planning can help alleviate this anxiety before it fully sets in.

Caring for a Veteran? Newport Beach Elder Lawyers Suggest These Programs for Help

Posted by Susan Katzen | Feb 17, 2023 | 0 Comments

A recent survey counted over 18.2 million American Veterans over age 65. Many of these Veterans include those who served in World War II, the Korean War, the Vietnam War, and the Persian Gulf War. Suppose you are caring for an elderly Veteran. In that case, you should know about the benefits and services available for the various health and financial challenges Veterans may face. 

IRS Increase to Estate Tax Exclusion For 2023

Posted by Susan Katzen | Feb 12, 2023 | 0 Comments

After you’ve rung in the New Year, it’s time to start getting down to business and thinking about tax season. While it’s not the merriest time of the year, tax season is a great time to review your finances and the changes that may impact how you file.

Finding the Off Ramp for Your Business Ownership

Posted by Susan Katzen | Jan 12, 2023 | 0 Comments

Business plans often address marketing, growth, and product development issues. However, business owners fail to create an exit strategy, succession plan, or acquisition plan. Although you’re not ready to sell your business or retire now, preparing for the future of your business is crucial. You should decide who to leave your business to when you retire or if you unexpectedly die. You can also include contingencies for an injury, illness, or incapacitation.

How to Make a Charitable Bequest with an IRA

Posted by Susan Katzen | Jan 08, 2023 | 0 Comments

You can donate retirement accounts, such as an IRA, by distributing the proceeds to charity. However, the tax benefits for donating this way are minimal. A tax-efficient donation strategy is to contribute your retirement fund directly to a charitable organization as part of your estate plan.

Why a Power of Attorney Is So Important for Your College Student

Posted by Susan Katzen | Dec 09, 2022 | 0 Comments

When most people think about estate planning tools such as power of attorney, they imagine that they are solely for people who already have children, who have significant assets, or who are nearing the end of their lives. However, you may be surprised to know that many will lawyers also recommend that college students have powers of attorney in place for both their healthcare and their finances. While your college-aged child may not require other aspects of a full estate plan, these power of attorney documents could nevertheless be vital.

TOD Beneficiary: What You Should Know

Posted by Susan Katzen | Dec 09, 2022 | 0 Comments

Your named beneficiaries will likely have to go through probate to receive your real property after your death if it is only in your name and not held in trust. Although transferring property into trust can ensure your family does not have to wait for a judge to validate your will before distributing your assets, it might not make sense for your situation. Another beneficial method is a transfer-on-death (TOD) deed. A TOD deed transfers a person’s real property to named beneficiaries upon the transferor’s death. It is similar to a transfer-on-death registration for an investment account or a payable-on-death designation for a bank account.

“What Is Portability in an Estate Plan?”

Posted by Susan Katzen | Dec 09, 2022 | 0 Comments

Federal estate tax law includes a provision called portability. This provision only applies to married couples. It allows the surviving spouse to use any part of their deceased spouse’s unused estate and gift tax exemption. Including portability in an estate plan protects the surviving spouse from significant estate tax bills if the deceased spouse’s estate didn’t exceed exemption thresholds. With the deceased spouse’s unused exclusion (DSUE), the surviving spouse can transfer their spouse’s unused federal gift or estate tax exemption upon death.

Wedding Bells Later in Life? What Newlywed Seniors Need to Know About Their Estate Plans

Posted by Susan Katzen | Dec 04, 2022 | 0 Comments

Some seniors don’t expect to remarry after a divorce or the death of a spouse. However, life is full of surprises. You could meet someone at any age, even during your retirement years. Many older adults bring various assets and debts into a new relationship. They might also have children from a previous marriage, one or multiple businesses, and collections they’ve worked hard to accumulate. Without adequate estate planning, you or your spouse could encounter significant problems if one of you dies or suffers a debilitating medical condition.

Newport Beach Trust Lawyer on the Elements of a Valid Trust

Posted by Susan Katzen | Nov 27, 2022 | 0 Comments

When creating a trust with a Newport Beach trust lawyer, it is important to understand the specific roles involved. The grantor is the person who establishes a trust. The designated beneficiary is the person who receives the assets held in trust when the grantor dies. Probate is unnecessary because trust property passes outside the last will and testament or intestacy law.

What Single Seniors Need to Know About Their Estate Plan

Posted by Susan Katzen | Nov 19, 2022 | 0 Comments

Whether you’re a single senior who lives alone or one who lives with a partner, establishing a new estate plan or modifying an existing one is essential. You might wish to leave assets to your partner that they could not get through intestate succession, or maybe you have children you want to leave your assets to. Perhaps there are organizations you want to receive a charitable donation upon your death. Whatever your final wishes, you should create a legally enforceable estate plan now.

Trust Attorney Answers, “Is it Better to Inherit Stocks or Cash?”

Posted by Susan Katzen | Nov 11, 2022 | 0 Comments

When you’re inheriting either cash or stocks, one isn’t better or worse than the other. Each offers benefits. Having money in hand upon a family member's death means the ability to use it immediately for any purpose. However, there’s also the risk of quickly running out of the entire inheritance. A stock inheritance allows someone to start or add to their investment portfolio. However, it can also lead to tax liabilities.

Why Moving Is So Hard for People with Dementia

Posted by Susan Katzen | Nov 01, 2022 | 0 Comments

Newport Beach elder law attorneys know that making the decision to move an elderly loved one into an assisted living facility is never easy. However, when your elderly parent or grandparent is struggling with Alzheimer’s or another form of dementia, the situation can be particularly challenging.

Long-Term Care Costs Are Rising — Here’s What You Should Know | Newport Beach Elder Law Attorney

Posted by Susan Katzen | Oct 13, 2022 | 0 Comments

Due to advances in medical technology, more Americans are living longer. In many ways, this is great news. However, this situation has brought about some significant challenges that all aging people now have to face. One of the most pressing concerns is the rising cost of long-term care. Understanding how to cope with the increase of this financial burden can make life easier both for you and your family.

Newport Beach Probate Attorney on What You Need to Know about an Estate Inventory

Posted by Susan Katzen | Oct 06, 2022 | 0 Comments

If you are serving as the executor of someone’s will, one of the most important tasks you will need to do is to complete an inventory of the decedent’s estate. This could feel like an overwhelming process, especially if the deceased person had a lot of assets. However, knowing more about the process you are about to embark on can help you feel a lot more prepared. Here is everything you need to know about an estate inventory.

Newport Beach Estate Lawyer on What You Need to Know About Decluttering and Downsizing for Your Loved One

Posted by Susan Katzen | Sep 28, 2022 | 0 Comments

It can be difficult to say goodbye to the things we own. Older adults might have an even harder time doing so because many of their possessions may hold decades of meaning or sentimental value, and the thought of parting with these mementos can bring up a lot of unexpected emotions. At some point, however, it will become necessary to let many of those things go. Decluttering and downsizing can make life much more manageable for your elderly relative. If you are about to start clearing out unneeded items from your loved one’s home, here are a few tips to help the process go as smoothly as possible for everyone.

Estate Planning Lessons from Disney’s Encanto

Posted by Susan Katzen | Sep 14, 2022 | 0 Comments

In the early part of 2022, many young families spent a lot of time watching Disney’s award-winning animated film Encanto. Repeatedly. While the movie is obviously a great source of entertainment for kids, Newport Beach estate planning attorneys have also noticed that it contains a lot of valuable lessons that can help people prepare for their family’s future.

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