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You want to ensure that the trust is current with the law and is still in keeping with your intent for your beneficiaries.

A trust is a legal relationship in which a person or trust company holds property for his or her own benefit or that of another person, called the beneficiary.

Trusts can be revocable or irrevocable. A revocable trust can be changed at any time by the person who created it. An irrevocable trust can’t be changed or terminated before the time specified in the trust.

You should review your estate plan anytime there’s a change in the family or your assets, said Marvin Blum, an estate planning attorney in Fort Worth, Texas.

“Our rule of thumb is to review the plan at least once every four years,” Blum said. “So we encourage our clients to review their plans each time we have a presidential election.”

Here are things you should consider:

The right trustee?

The trustee’s role is the most important within a trust. Consequently, you need to make sure that he or she is still the right person to carry out your wishes.

The trustee has to handle lots of record keeping, accounting, tax planning and filings, and investment decisions, so you want someone with business skills.

You don’t want someone with a questionable background.

For instance, you don’t want someone who has been convicted of a felony or a crime of moral turpitude, or who is being treated for a drug, alcohol, gambling or other dependency disorder.

http://www.timesdispatch.com/business/ap/estate-planning-a-checklist-for-reviewing-your-trust/article_6bfb6d1c-d892-11e3-8445-001a4bcf6878.html

 
An agent is the person who you have trusted to make health care decisions on your behalf.  Usually, this is a spouse, a partner, family member, or friend, but not always.  In California there are some guidelines to who you choose to be your agent.  They are not allowed to be:

·      Your doctor
·      An employee of your health care provider/doctor, unless the employee is a domestic partner, a relative by blood/marriage/adoption, or if you are employed with this person
·      An employee or operator of a community care facility, except if the individual is your registered domestic partner or is otherwise related to you by blood, marriage or adoption. In addition, you and the employee work at the said community care facility together

For more information visit this Orange County estate planning attorney's (http://www.tompkins-law.com/estate-plan-reviews-and-amendments) blog here:

http://blog.tompkins-law.com/2014/05/why-you-need-living-will-and-power-of.html
 
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Ah, the good old “how many notes can be sampled before you infringe copyright?” debate, that’s always fun. Though in America the answer usually seems to be “not very many at all actually”.

The estate of the Notorious BIG has launched a pre-emptive lawsuit over allegations one of the late rapper’s tracks infringed the copyright in a 1970s song. It seems that the owner of the latter track has been making high demands, and most recently moved to halt the payout of royalties on the rap release pending litigation.

The case is interesting, because no one is denying that 1994 Biggie Smalls track ‘The What’ samples, without permission, the 1974 song ‘Can’t Say Enough About Mom’, which was co-written by soul singer Leroy Hutson and Michael Hawkins.

But the Notorious BIG estate reckons that only “two non-sequential tones” were taken from the original, and that they were modified for the new track. And such usage, the Biggie estate says, constitutes fair use under US copyright law, so no infringement took place.

Although originally put out by Curtis Mayfield’s music company, ownership of ‘Can’t Say Enough About Mom’ seemingly reverted to Hutson in 1989, and it is he who is threatening to go legal. Hutson first alleged infringement had occurred fourteen years after ‘The What’ was released, and out of court negotiations have seemingly being going on ever since.

Billboard says that during this time Hutson’s legal reps have demanded 50% ownership of the Notorius BIG track, including 50% of all income generated by it over the years. But legal experts hired by the estate say they are confident that, under American case law, the size and nature of the ‘Can’t Say’ sample means there is no case for infringement.

With the dispute now heading for court, the BIG estate clearly wanted to get in first, seeking court confirmation that no infringement occurred, and damages from Hutson for ‘copyright misuse’, based on the allegation he has been threatening legal action in the knowledge no actual infringement took place.

Though when it comes to sampling cases in the US jurisdiction there is rarely such certainty. It will be interesting to see what happens if this dispute does indeed reach a court room.

- See more at: http://www.completemusicupdate.com/article/notorious-big-estate-sues-over-uncleared-sample-claim/#sthash.vcNGM7kX.dpuf
 
Rosa Parks is looked up to by many Americans.  Her Civil Rights influence is well known, allowing her to receive many awards for her role.  She has two days named after her in California and Ohio.  One is on her birthday February 4 and one is on December 1st, the day she was arrested.  



When Rosa Parks died in 2005, her estate has a high historical value and a smaller monetary value, but nonetheless her estate cause a big commotion among her loved ones.  Elaine Steele, her best friend, was named overseer of the estate in Rosa's last will.  She also gave Steele 90% of the royalties, which only left 10% for Rosa's nieces and nephews.  The latter contested this will and even today the family has not fully recovered.


As an estate planning attorney in Orange County (http://www.tompkins-law.com/estate-plan-reviews-and-amendments), I know that the last thing you want is your family members to remember you because of a court case.  So handling you will is very important.  Click the link below to read more about this. 


http://blog.tompkins-law.com/2014/03/insight-on-rosa-parks-estate-dispute.html



 
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Financial advisor and Chapman University director of planned giving David Moore gave us some advice on estate planning and how to think about it

Moore said if people wish for more detailed information and action, they should always seek an attorney. Here’s some of the advice Moore had for how to think about planning an estate.

• Drafting a will provides for your loved ones and makes sorting things out during a difficult time easier.

• Beyond that, people have different ...


Read the rest at http://www.ocregister.com/articles/estate-599013-people-planning.html
 
Medi-Cal provides many benefits for individuals who may not have any other access to them.  A few of the items covered by Medi-Cal include but are not limited to:

 Mental health and substance abuse disorder rehab, including prescription drugs and devices used
Outpatient lab and pathological tests
Dental care, vision care and speech therapy are covered fir those age 21 and below

As an estate planning attorney in Orange County,  I advise clients to think about Medi-Cal planning right away.  

Visit my blog for more information:

http://blog.tompkins-law.com/2014/01/an-estate-planning-attorney-answers.html
 
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Ryan O'Neal, the Hollywood actor, has won a long and bitter legal battle over ownership of an Andy Warhol portrait of his late lover Farrah Fawcett.


A jury in Los Angeles decided that the painting, worth millions of dollars, belongs to O'Neal rather than the University of Texas, to which Fawcett bequeathed her art collection when she died of cancer in 2009 aged 62.


In a three week trial O'Neal, 72, the star of Love Story, gave emotional evidence in which he was forced to discuss how in 1997 Fawcett caught him in bed with a 25-year-old woman, which left Fawcett feeling "pitful and disgraced".


At one point Jaclyn Smith, Fawcett's co-star in the TV series Charlie's Angels, broke down in tears outside court after attending to support O'Neal.


The 40-inch by 40-inch silkscreen on canvas portrait at the centre of the dispute was one of two made by Warhol in 1980. After the actress died the university, her almer mater, received one of them.


University officials then discovered that the other portrait was in O'Neal's home in Malibu, California. It was clearly visible haning above his bed in a reality television show he filmed there.

O'Neal claimed that Warhol, who he had known since the 1960s, gave one painting each to Fawcett and himself, and that the university was pursuing both out of simple greed.

In the witness box he told the jury of six men and six women that he talked to the painting. He said: "I talk to it. I talk to her. It's her presence in my life and her son's life. We lost her. It would seem a crime to lose it."

The court heard that O'Neal and Fawcett were in a relationship for 30 years but never married, and had separate homes.

One of the Warhols hung in O'Neal's Malibu home until the 1997 incident in which he was caught with a younger woman. The following year, according to O'Neal, his younger companion felt "uncomfortable with Farrah staring at her,” so he gave the portrait to Fawcett to look after at her home.

 
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Dear Michael: We have talked year after year about getting our estate planning done. Our two boys have worked with us on the farm although one of them has a fulltime job, is married, with kids, and our other son is single (getting married) who wants to quit his job and farm fulltime if he can with the amount of land we have. We are old enough to think about retiring, but still want to be involved in the farm operation until our sons make up their mind what they want to do. They seem to think they can do a joint venture of some sorts, but we are unsure. It's a new year, we need new answers. - Happy Same Old, Same Old.

Dear Same Old: If you haven't joined the mass exodus to spend winter in warmer climes, then maybe your New Year's resolution should be to get this done before spring's work. I find many people put this off during the holidays, and then they try to get around to it for a few more weeks, and then the weather changes and the mind shifts over to spring planting and another winter passes without results. Maybe 2014 is "the year" for finally putting this behind you. How good would that feel? At least when the temperature's 20 below, you can get something done!

In regards to your sons farming together as a joint venture - with one considering fulltime farming and the other parttime farming - it's kind of putting two horses into the traces with one of them pulling when it feels like it while the other one is pulling for all it's worth to pull the load. Eventually, and inevitably, the two horses will get "snippy" with one another and try to pull in different directions. This usually ends up with the cart getting upended.

http://www.farmandranchguide.com/entertainment/country_living/your_money/this-is-perfect-weather-to-get-estate-planning-done/article_1c4db07a-7a34-11e3-937f-001a4bcf887a.html

 
If you own properties in states other than California, you have two options to think about while planning your estate:  you can prepare special powers of attorney that adhere to the laws of several states, or you can execute a revocable living trust.  It is crucial to consult with a professional if you are in the process of estate planning to make sure your assets including those outside of California are protected.

Please visit this living trust attorney in Orange County's blog for more information:
http://blog.tompkins-law.com/2014/01/a-living-trust-attorney-explains-how-to.html

 
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Voices is an occasional column that allows wealth managers to address issues of interest to the advisory community. Mark Powell is an attorney at Irvine, Calif.-based Albrecht & Barney and the founder of Practical Plans.

I have two kids, and I can remember when they were very young that just sorting out the feeding, changing, and scheduling was overwhelming. It was hard to figure out how I was supposed to get to the end of the day let alone think about the future.

While this is the case with many young parents, it's also a prime time for advisers to help them put together an estate plan that includes what the parents want their children's future to look should something happen to them.

I think a lot of advisers will assume there's no way to know how the world will be when a child grows up. So when drafting a plan they'll tell their clients to plan for numerous things that could happen; for example, what happens if my child develops a gambling problem? But my feeling is that for parents who are already overwhelmed this can be too much.

Instead, I recommend people create estate plans that include provisions for the most likely events in their children's lives, such as college and marriage. Plan for what happens when both parents are alive and well, what happens after the death of the first parent and what happens should both die. Plan broadly at first, and then you can decide what specific things you want to include in an estate plan.

To get more specific, I ask people to write down their wishes for their kids in five, 10, 15, and 20 years. You'll find that a lot of clients have the same goals--like sending their kids to college or helping them get married. But you'll find that some clients will surprise with something very different that they want for their kids--and this can give you a jumping-off point to make more specific plans.

As an adviser, this will help you pinpoint exactly what kind of planning you need for them. If both parents went to state schools and would be happy if their children went there, that's a very different kind of planning than parents who are only interested in exclusive private colleges.


http://online.wsj.com/news/articles/SB10001424052702303933104579304593018595748