Business & Economics Podcasts
Conversations brought to you by the Trusts and Estates Section of the California Lawyers Association..
Conversations brought to you by the Trusts and Estates Section of the California Lawyers Association..
Nuts and Bolts of Private Letter Rulings
Private letter rulings (PLRs) are one of many tools that tax and wealth planning professionals can employ to benefit their clients, but many professionals are unaware of the benefits of PLRs or don’t know how to obtain PLRs. Our guest, S. Eva Wolf, will provide us with guidance on the PLR process as it relates to common estate, gift and generation-skipping transfer tax issues. About Our Guest: S. Eva Wolf’s 15-year legal career has followed an atypical path; she has twice moved between...
Focus on Function, Not Age, When Working with Clients
Join us for a conversation with neuropsychologist Jonathan Canick about the interplay between aging and an elder client’s capacity to execute estate planning documents. Aging itself has no direct effect on mental capacity, but ageist stereotypes and implicit biases abound. Indeed, many physicians mistakenly assume that advancing age results in cognitive decline. At the same time, mental function deficits are often overlooked in clinical settings and may inhibit a person’s ability to make...
What is a Conservatorship?—Navigating the California Conservatorship Process
What is a conservatorship? Over the past few years, “conservatorship” has become a popular buzz word and the topic of many discussions in the media. With this new-found attention on conservatorships, California lawmakers have been busy, passing multiple bills and changing the landscape of how conservatorships are established, managed, and supervised in California Probate Courts. Although there is some criticism of the restrictive nature of conservatorships, these proceedings are designed to...
Elder Law Attorney – What is it and why do I need one?
In this episode, our guest Josie M. Porras Corporon, CELA, will be diving into the misunderstood world of elder law. This episode is geared towards practitioners who don’t know what an elder law attorney does and when they need to refer their clients to an elder law attorney; as well as to the general public as a guide for where to start when they want to plan for a long term disability in addition to their passing. We will discuss the basics of long term care planning and public benefits...
Choosing to File in Probate or Civil
Probate matters and general civil matters can sometimes be seen as operating in two separate worlds. However, in practice, these worlds often interact with one another. In this episode, we are covering probate and civil crossover issues. We discuss a lot of the basic concepts and considerations given when choosing to file either a probate or civil case and dealing with concurrent litigation. We also briefly address some new legislation as well as other practice tips that may prove helpful in...
Trust Amendments After the Conflicting Decisions of King v. Lynch and Haggerty v. Thornton
Amending revocable trusts is such a common occurrence for estate planners that the procedure for doing so may be given little thought. Most trust instruments include provisions establishing the procedures for amendment, but what if those procedures are not followed? Should the amendment be held invalid? Two appellate court decisions, King v Lynch and Haggerty v. Thornton take up the question. The courts interpret Probate Code Sections 15402 and 15401(a)(2) differently, and as a result reach...
Expanding Access to Estate Planning
Surveys reveal an equity gap in estate planning. Although everyone should have an estate plan, Americans in communities of color are less likely to have plans in place. Without powers of attorney and health care directives, families may find it hard to manage the affairs of their incapacitated elders. And when elders die without a trust or will, it may be difficult to keep the home and other assets in the family. Verleana Green-Telusca, a lawyer in Oakland, describes how she became an...
529 Plans in a Nutshell
There’s a lot of talk about student loan debt and the rising cost of college education. One tax effective solution for clients who want to help their children or grandchildren with this rising cost is a 529 plan. In this episode, our guest David Oh will review the basic rules of 529 plans and discuss what clients should consider when setting up such plans. He will also examine the tax and financial differences between 529 plans and other gifting options. David Oh (Trust Counsel and Managing...
Employing Caregivers and Advising Those Who Do
Many elders who need support with their activities of daily living want to remain in their homes as long as possible. How can caregivers be hired and paid in compliance with the law? What do California trust and estate lawyers need to know to advise their clients? Our guest Bob King provides an overview of the tricky employment and tax laws that apply to in home caregivers in California. A caregiver who works a long shift cannot be paid a straight hourly wage “off the books.” Under the...
Trust Income Taxation 101
In this episode, our guest Michael DiBernardo will be diving into the exciting world of fiduciary income taxation. This episode is geared towards practitioners who don’t deal with trust income tax rules on a daily basis. We will discuss a basic and practical overview of fiduciary income tax as it relates to estate planning and trust administration. About Our Guest: Mike DiBernardo is a Certified Public Accountant specializing in tax and accounting solutions for small businesses. As a...
When They Don’t Clap for Anti-SLAPP – Part 2
This Episode of “Trust Me” is Part 2 of a multi-episode series, which features an interview with Ryan Szczepanik and Ciarán O’Sullivan, the co-authors of the article: “When They Don’t Clap for Anti-SLAPP.” The article appeared in the California Trusts and Estates Quarterly, Volume 28, Issue 1, published in 2022 by the Executive Committee of the Trusts and Estates Section of the California Lawyers Association (“TEXCOM”). In our first episode with Ryan and Ciarán, we covered the general use...
When They Don't Clap for Anti-SLAPP - Part 1
This Episode of “Trust Me” is Part 1 of a multi-episode series, which features an interview with Ryan Szczepanik and Ciarán O’Sullivan, the co-authors of the article: “When They Don’t Clap for Anti-SLAPP.” The article appeared in the California Trusts and Estates Quarterly, Volume 28, Issue 1, published in 2022 by the Executive Committee of the Trusts and Estates Section of the California Lawyers Association (“TEXCOM”). In our first episode with Ryan and Ciarán, we have a conversation about...
Trustee Compensation and Analysis of California Rules of Court Rule 7.776
This Episode of “Trust Me” features an interview with Josh Yager, co-author of the article “How Much is Too Much? Trustee Compensation and an Analysis of California Rules of Court, Rule 7.776.” The article appeared in the California Trusts and Estates Quarterly, Volume 27 issue 1, published by TEXCOM in 2021. Our conversation takes us on a deep dive of California Rules of Court Rule 7.776, breaking down each of the eight factors courts are to consider when determining a trustee’s fee. We...
Vulnerable elders too often fall victim to predators who marry them for financial gain. But how should we balance the fundamental right to marry and enjoy companionship with protecting elders from financial abuse? Our guest Ellen McKissock shares her perspective on predatory marriage, including the case that got her thinking about this subject and her journey towards legislative reform. Ellen was a lead proponent of California Assembly Bill 328, which Governor Brown signed in 2019. AB 328...
The Audit Process: A conversation with former IRS Estate and Gift Tax Attorneys
Our guests for this episode are two former IRS Estate and Gift Tax Attorneys, Eva Wolf and Michael Perlmutter. Eva and Michael will discuss the general audit process for Estate and Gift Tax returns. They will also cover common mistakes made based on their extensive experience in auditing hundreds of these returns. About Our Guests: Eva Wolf is currently a Senior Attorney in the Passthroughs & Special Industries division of the IRS Associate Office of Chief Counsel, where she advises IRS...
John Sutton’s Will: Bending the Arc of History Towards Justice in the Probate Court
Our guest for this episode, Terrence M. Franklin, shares an incredible story of a Last Will and Testament from 1846 that played a very important role in his family history. He hopes that telling this story can help bend the arc of history towards justice. About Our Guest: Terrence M. Franklin is a partner at Los Angeles based firm Sacks Glazier Franklin & Lodise. He is a seasoned attorney with nearly three decades of experience handling trust and estates and probate litigation, disputes...
Estate Planning: Where Were We, Where Are We, Where We Might Be Going?
In this month’s episode of Trust Me! we interview Chelsea Suttmann and Melissa Karlsten, authors of a recent article entitled “Advanced Planning—A Decade in Review: What Have We Learned Over the Last Decade and Where Are we Headed?” The article appeared in Volume 27, Issue 1 of the California Trusts and Estates Quarterly published by the Trusts and Estates Section of the California Lawyers Association. We discuss changes and threatened changes in estate tax law from 2010 forward, from the...
From a Judge’s Perspective
In writing or performing, it is important to know your audience. In probate litigation, your audience is often the judicial officer presiding over the case. In this podcast, we sit down with Judge David J. Cowan to get his view on some key topics in handling contested probate proceedings. First, we explore the subject of pleadings and crafting a petition to tell a story. We next discuss bench trials and how Judge Cowan approaches them, including how he considers testimony on mental capacity...
Trustee Removal Litigation and Mediation
The trustee is in the driver’s seat in how a trust is administered, deciding when and how assets will be allocated. Parents who create trusts to benefit their children often pick one or more of them to serve as trustee. The beneficiaries become unhappy with what the trustee is doing or failing to do. A lawyer hired by the beneficiaries may file a petition in the Superior Court asking the judge to remove the trustee. When is enough, enough? What factors will a California probate judge...
Inheritance forgery can take many forms, including phony estate planning documents that redirect assets to a scammer and fake deeds that spring the family home from the decedent’s estate. Forgery used to be a crime that could result in the death penalty. But in the mid-twentieth century, concern about forgery waned. Based in part on the perception that counterfeit estate plans are rare, several states relaxed the formalities traditionally associated with wills in an effort to avoid technical...