Planning for Life

You Can't Amend Your Trust by Post-It Note

Posted by Harry S. Margolis on January 7, 2020

By Harry S. Margolis

trust-amendements-margolis-and-bloom

A California case stands for the rule that trust amendments must be in writing and signed. In the case of Pena v. Dey James Robert Anderson was diagnosed with abdominal cancer in 2010 and brain cancer in 2011. His friend, Greg Dey, moved in with him in November 2011 and cared for Anderson until his death in May 2014.

In February 2014, Anderson sent his attorney a marked up copy of his revocable trust crossing out certain beneficiaries and adding Dey and two other beneficiaries each to receive "7% of 49%." The trust was to be divided into two shares, with 49% percent going to various individuals and 51% to three charities.

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Topics: will, revocable trust

Why Would Anyone Do Estate Planning? A Lot of Bang for the Buck

Posted by Harry S. Margolis on July 24, 2018

By Harry S. Margolis

Screen Shot 2018-07-24 at 12.43.15 PM

Why would anyone want to partake in estate planning? It takes time. You have to deal with lawyers. And to talk about your death or disability. It may bring up contentious issues with a spouse or children. It's not urgent, since nothing is likely to happen to you tomorrow, or even in the next few years. It costs money.

So, why should you take time out of your busy life to commit to estate planning? The answer is that there are few other simple steps you can take that will could have as great an impact on your family's welfare. The cost-benefit trade off is tremendous.

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Topics: durable power of attorney, will, HIPAA release, health care proxy, revocable trust

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