Entries by michelle

QUESTION: Will a Revocable Living Trust protect my assets from lawsuits? (Sep 2012)

ANSWER:      Ethan R. Okura, Attorney Specializing in Estate Planning (Trusts, Wills, Medicaid Planning & Probate).  No, a revocable living trust will not protect your assets from lawsuits.  You can cancel your revocable trust and get assets out of the trust at any time.  Therefore, your creditors (people to whom you owe money) can also get assets out of your revocable trust.  An irrevocable read more

The New Estate Tax Law (January 2011)

Happy New Year, everyone!  We have some exciting new tax laws.  On December 17, 2010, President Obama signed into law the 2010 Tax Relief Act.  I will explain the most important changes in estate and gift taxes.

Temporary Law.  Important parts of the new law are only temporary.  If Congress does not further change the law, many of the benefits of the new law will disappear on January 1, 2013.

$5,000,000 read more