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The Latest from Susan Katzen

Buy-Sell Agreements: The Unsung Hero of Business Planning

Posted by Susan A. Katzen | Oct 19, 2024 | 0 Comments

You've poured your heart and soul into your business, but have you considered what would happen if you or your partner suddenly couldn't continue? As a Neport Beach business planning lawyer, I've seen too many thriving businesses falter when faced with unexpected transitions. That's where a buy-sell agreement comes in - it's the safety net you hope you'll never need but will be eternally grateful for if you do.

Understanding the New Inherited IRA Rules

Posted by Susan A. Katzen | Sep 22, 2024 | 0 Comments

Inheriting an IRA can be a significant financial event, and recent changes to the IRS rules make it crucial for beneficiaries to understand their obligations. Whether you're in Newport Beach or elsewhere, these new regulations could significantly impact your inheritance. As a Newport Beach estate planning lawyer, I'll break down the key changes and how they could affect your financial planning.

Lessons from Prince's Estate: Newport Beach Trust Lawyer on Avoiding Family Drama When Planning Your Legacy

Posted by Susan A. Katzen | Sep 15, 2024 | 0 Comments

Even iconic artists like Prince can encounter estate planning challenges. As a devoted fan of many musical legends, I was surprised as an Newport Beach trust lawyer to learn that Prince passed away without a trust or will. Sadly, the resulting legal battles within his estate continue to make headlines. Let's delve into the situation and discover valuable lessons we can all learn from this unfortunate estate planning situation.

How an ILIT Can Help Protect Your Family's Wealth

Posted by Susan A. Katzen | Sep 07, 2024 | 0 Comments

As a Newport Beach inheritance lawyer, I often recommend Irrevocable Life Insurance Trusts (ILITs) to clients looking to protect their family's wealth. Life insurance is a powerful estate planning tool, but without proper planning, it can become vulnerable to creditors or unnecessarily inflate your taxable estate. Let's explore how an ILIT can help safeguard your family's financial future.

What to Know When Including Raw Land in Your Estate Plan

Posted by Susan A. Katzen | Aug 31, 2024 | 0 Comments

Owning a piece of undeveloped land can be an exciting investment, full of potential and possibilities. However, when it comes to including this asset in your estate plan, there are unique considerations to keep in mind. As a Newport Beach estate lawyer, I often work with clients to ensure their raw land is properly addressed in their estate planning documents. Here's what you need to know:

The Dynamic Duo of Your Financial Future: How Newport Beach Estate Planning Lawyers and Financial Advisors Collaborate

Posted by Susan A. Katzen | Aug 25, 2024 | 0 Comments

When you decide it's time to get serious about your future, you might be surprised to learn that you need not one, but two professionals in your corner: an estate planning lawyer and a financial advisor. Many people assume these roles are interchangeable or that one professional can handle it all. Spoiler alert: they are two separate roles and here's why that's actually great news for you.

Expect the Unexpected: A Newport Beach Special Needs Lawyer's Guide to Contingency Planning

Posted by Susan A. Katzen | Aug 11, 2024 | 0 Comments

As parents of children or adults with special needs, we often find ourselves lost in thought about their future. We picture a world where they're safe, happy, and well-cared for, even when we're no longer around to guide them. But here's a hard truth that many of us have faced: sometimes, despite our best efforts, Plan A just doesn't pan out.

Safeguarding Your Future as a Physician

Posted by Susan A. Katzen | Aug 03, 2024 | 0 Comments

If you're a new doctor building your practice or a seasoned physician branching out on your own, it's time to give serious thought to asset protection planning. Did you know that doctors are among the top professionals targeted in lawsuits? It's not a matter of "if" but "when" you might face a claim.

Protecting Your Children When You're Their Only Parent

Posted by Susan A. Katzen | Jul 16, 2024 | 0 Comments

As a single parent, your plate is already full. You're juggling work, childcare, school activities, and maybe even a bit of "me time" (if you're lucky!). It's understandable that estate planning might not be at the top of your to-do list. But let's face it: one of the biggest worries for single parents is, "What would happen to my children if something happened to me?" This is especially true if you're the sole caregiver and don't have a supportive co-parent or family network to rely on.

Hidden Wealth: Planning for Mineral Rights

Posted by Susan A. Katzen | Jun 09, 2024 | 0 Comments

Many Americans unknowingly own mineral rights, or have the potential to inherit them. These rights encompass resources like oil, gas, precious metals, and more. Even if you don't live in a traditionally "mineral-rich" area, these rights can be passed down through generations, creating a surprise windfall, or posing a complex estate planning challenge.

Family Tensions and Healthcare Decisions

Posted by Susan A. Katzen | May 25, 2024 | 0 Comments

Sadly, family feuds are more common than we'd like to admit. These tensions can become incredibly stressful and even more so when one family member experiences a health crisis. If you're remarried and your adult children don't get along with your new spouse, it's natural to worry about potential conflicts during a time when support should be the priority.

Stepping In: What to Do as Trustee When Your Loved One is Hospitalized

Posted by Susan A. Katzen | May 19, 2024 | 0 Comments

Being named a trustee is an important responsibility, but sometimes life throws unexpected situations your way. When a loved one is hospitalized and you have to step into the trustee role, you might feel overwhelmed and uncertain about what lies ahead. Here's a guide on how to navigate your new responsibilities and ensure your loved one's best interests are protected.

Estate Planning with Bickering Kids? Minimize Conflict and Keep the Peace

Posted by Susan A. Katzen | May 08, 2024 | 0 Comments

As a parent, you want nothing more than for your children to get along. But the reality is, sibling relationships can be complex and sometimes fraught with disagreements. When planning your estate, facing the prospect of your children arguing about your legacy is incredibly stressful. Rest assured, there are ways to structure your estate plan thoughtfully to minimize conflict and preserve your wishes, even if your children can't always see eye-to-eye.

Estate Planning for a Longer Hospice Journey: What You Need to Know

Posted by Susan A. Katzen | Apr 28, 2024 | 0 Comments

Hospice care offers comfort and support during a serious illness, focusing on quality of life rather than curative treatment. While it’s often associated with end-of-life situations, a hospice stay can last for months or even years. This highlights the importance of a flexible estate plan that addresses not only what happens after you pass but also the practicalities of your financial and personal life during an extended hospice journey.

Estate Planning When Facing a Nursing Home Transition

Posted by Susan A. Katzen | Apr 21, 2024 | 0 Comments

The decision to place a parent in a nursing home rarely comes easily. Apart from the emotional toll, significant financial and legal adjustments are often necessary. While immediate well-being takes priority, it's vital to safeguard your parent's assets and long-term care needs with proactive estate planning.

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