tag:blogger.com,1999:blog-11211500199340429822024-03-12T21:34:39.411-04:00Bucks County Probate and Estate Planning Attorney Blog 215.321.4033Pennsylvania Offices in:
Yardley, Philadelphia, and Washington CrossingYvette E. Taylor-Hachoosehttp://www.blogger.com/profile/06434927868172885604noreply@blogger.comBlogger544125tag:blogger.com,1999:blog-1121150019934042982.post-8975579537364868592015-02-11T08:00:00.000-05:002015-02-13T08:10:11.630-05:00Who Cares About Probate?When it comes to probate, living in Pennsylvania saves you time and money. Unlike some other states, Pennsylvania does not have a probate process that is time consuming or costly. How does that compare to India? <br />
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I will reach out to local Indian counsel regarding their views on this question and many others throughout the course of my Journey to India and share their answers with you.<br />
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<br />Yvette E. Taylor-Hachoosehttp://www.blogger.com/profile/06434927868172885604noreply@blogger.com0tag:blogger.com,1999:blog-1121150019934042982.post-82050905220434507312015-02-09T08:00:00.000-05:002015-02-09T12:05:41.755-05:00Journey To India: Bucks County Estate Planning Attorney Compares Probate, Trusts and Wills in India with U.S. laws <br />
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<span style="font-family: "Times New Roman","serif"; font-size: 12pt;">With its diverse religions and cultures, India is an ideal country in which to examine varying estate planning practices.<span style="mso-spacerun: yes;"> </span>My study of these practices will enhance my knowledge and skills as an estate planning professional. </span></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 12pt;">Join me as I explore this multifaceted country with practices that are intriguing, serene and diverse. First stop is New Delhi. Over 11 million people, of the 1.2 billion people of India, live in New Delhi. For perspective, the population of U.S. is 317 million with just over 8 million in New York City and 1.5 million in Philadelphia. Let's just say, New Delhi has lots of people who need Wills, Trusts and other estate planning. </span></div>
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Yvette E. Taylor-Hachoosehttp://www.blogger.com/profile/06434927868172885604noreply@blogger.com0tag:blogger.com,1999:blog-1121150019934042982.post-17385779819158547012014-12-05T00:08:00.004-05:002014-12-05T00:08:54.804-05:00New Pennsylvania Power of Attorney Law<span lang="EN"></span><div align="LEFT" dir="LTR">
<span style="font-size: large;">If you have not already done so, now is the time to get your Power of Attorney. Pennsylvania has adopted a new Power of Attorney law and many of the sections affecting the Power of Attorney form take effect January 1, 2015.</span></div>
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<span style="font-size: large;">The changes to the Power of Attorney form itself include an updated notice for signing by the principal, the person making a Power of Attorney, and an updated acknowledgement for signing by the agent, the person appointed to serve on behalf of the principal. In our office, alongwith the principal signature, we require the signature of two witnesses before a notary. Under the new law, it is now a requirement. Finally, certain powers, such as the power of the Agent to make a gift or change a beneficiary designation, must now be specifically set forth in the document otherwise the agent does not have the power to perform these acts and others as listed under the statute.<br />
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Other than the requirements of the form, the new law addresses third party recognition and reliance on the Power of Attorney. If a third party (such as a bank) relies upon a properly prepared Power of Attorney document, the third party is immune from liability if it later turns out that the document is invalid. Often representatives of banks or other institutions refuse to recognize a Power of Attorney because it did not fit the form preferred by the bank or institution though such form had been prepared by the customer’s attorney. <br />
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The problem that still persists is that a bank representative or other party being asked to accept a Power of Attorney may request an opinion of counsel that the Agent is acting within the scope of authority granted under the Power of Attorney document. This could prove to be a burdensome requirement for the customer and will generally be addressed on a case by case basis until this is no longer a requirement. </div>
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Contact us at 215-321-4033 for further information.</div>
</span><br />Yvette E. Taylor-Hachoosehttp://www.blogger.com/profile/06434927868172885604noreply@blogger.com0tag:blogger.com,1999:blog-1121150019934042982.post-48767834073903925962014-11-01T09:18:00.001-04:002014-11-01T09:20:32.777-04:00Today, It's Your LegacyAn important benefit of Estate Planning is creating a legacy. Treasure your life's journey share your story or your family's story with us. Be the next Guest on our Show, Today. It's Your Legacy or be the client spotlight in our newsletter or Facebook page. Post your comment below for our consideration. Yvette E. Taylor-Hachoosehttp://www.blogger.com/profile/06434927868172885604noreply@blogger.com0tag:blogger.com,1999:blog-1121150019934042982.post-81821479249502385152014-03-04T08:19:00.004-05:002014-03-04T08:19:35.773-05:00Ten Years of Making A Difference in the Lives of our Clients <div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiLM7LjUxMSn7Jd8MxyhkWlk0DuisFLo_s4dodgdTcadLElhBBiUH69bN5SMv5sB85x9WYvma7ta3h1QO2iUlns2TkJMuSgxCuzPsuMOHwg0-OKgB4rJOxneFIt9ql1hQwBIaR0VVCs37ex/s1600/10YearAnniv_LogoLockUp_BW.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiLM7LjUxMSn7Jd8MxyhkWlk0DuisFLo_s4dodgdTcadLElhBBiUH69bN5SMv5sB85x9WYvma7ta3h1QO2iUlns2TkJMuSgxCuzPsuMOHwg0-OKgB4rJOxneFIt9ql1hQwBIaR0VVCs37ex/s1600/10YearAnniv_LogoLockUp_BW.jpg" height="320" width="320" /></a></div>
Thank you for your support over the years. <br />
<br />
I choose Estate Planning because it allowed me to reach those who needed professional service at an affordable price.
<span style="font-size: 12pt;">We successfully help
individuals, families and businesses plan for the people they love.<span style="mso-spacerun: yes;"> </span>We focus on all aspects of our client’s life
– their personal assets, business assets and more importantly their dreams for
the future. </span><br />
<span style="font-size: 12pt;"></span><br />
<span style="font-size: 12pt;">For 10 years, we have c</span>ared to listen to our clients and exceed their expectations and we look forward to another decade of outstanding service in probate, estate planning, guardianship, business succession planning and elder law.Yvette E. Taylor-Hachoosehttp://www.blogger.com/profile/06434927868172885604noreply@blogger.com1tag:blogger.com,1999:blog-1121150019934042982.post-49240294566847346382013-01-21T15:31:00.000-05:002013-01-24T10:28:10.445-05:00Making a Difference<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjG8LPi6rscjjrr6JOBwYSS4H4IoXYGTuirRBXmMaF1XCldq7sFOvXASPNNbqehYcCVowOiQkCSnmfLCb4QbsvB6Ivsd3_C-nF9BBxbisznLDFq8V1QNYUr34wgM93pgm6if4shvm1m4eMX/s1600/martin_luther_king_jr.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="213" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjG8LPi6rscjjrr6JOBwYSS4H4IoXYGTuirRBXmMaF1XCldq7sFOvXASPNNbqehYcCVowOiQkCSnmfLCb4QbsvB6Ivsd3_C-nF9BBxbisznLDFq8V1QNYUr34wgM93pgm6if4shvm1m4eMX/s320/martin_luther_king_jr.jpg" width="320" /></a></div>
<span style="font-family: "Times New Roman","serif"; font-size: 12pt;">We
have just celebrated the MLK Holiday with a day of service for many across the
nation.<span style="mso-spacerun: yes;"> </span>Carolyn Newsom, an attorney and intern at my office, recalls her father saying “we have a
responsibility in life to put more jelly beans back in the jar than we take
out.”<span style="mso-spacerun: yes;"> </span>She expressed that “it was his
folksy way of saying that we have a duty to serve others and to help make the
world a better place in which to live.”<o:p></o:p></span><br />
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<span style="font-family: "Times New Roman","serif"; font-size: 12pt;">As
evident in the rise of volunteerism, many others would agree with this “folksy”
expression.<span style="mso-spacerun: yes;"> </span>In honoring Martin Luther
King, Jr., many organizations sponsored not only parades, speeches, panel
discussions but also projects to clear vacant lots, help rehab a housing unit
or plant a garden for a homeless shelter.<span style="mso-spacerun: yes;">
</span>We have witnessed volunteers who helped victims of Sandy and other
devastations. <o:p></o:p></span><br />
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<span style="font-family: "Times New Roman","serif"; font-size: 12pt;"><o:p> </o:p></span><span style="font-family: "Times New Roman","serif"; font-size: 12pt;">In
addition to volunteer efforts, many people give their financial support.<span style="mso-spacerun: yes;"> </span>With proper planning this support can also
have a lasting impact.<span style="mso-spacerun: yes;"> </span>Make charitable
contributions a part of your estate plan which can establish the basis for
continuation of <b style="mso-bidi-font-weight: normal;"><u>your</u></b> dream.<o:p></o:p></span></div>
Yvette E. Taylor-Hachoosehttp://www.blogger.com/profile/06434927868172885604noreply@blogger.com0tag:blogger.com,1999:blog-1121150019934042982.post-24864423748754195362013-01-19T15:13:00.000-05:002013-01-22T15:17:51.854-05:00Federal Estate Tax <div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEghx0ZaAHjNXi1BqE4cndpK2rZr7OjQ3WD2KVrMfeBhK0dvBTMx9br4h-RTvBoeqrIH4tiF9gBCFw53ixjlvui-L8Z81YeuFUIeEZjEVXOql_hZDLIGhV5oA4f3gX2g3L08dMH2Mpqi4kLj/s1600/Estate-Tax.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEghx0ZaAHjNXi1BqE4cndpK2rZr7OjQ3WD2KVrMfeBhK0dvBTMx9br4h-RTvBoeqrIH4tiF9gBCFw53ixjlvui-L8Z81YeuFUIeEZjEVXOql_hZDLIGhV5oA4f3gX2g3L08dMH2Mpqi4kLj/s1600/Estate-Tax.jpg" /></a></div>
<span style="font-family: "Times New Roman","serif"; font-size: 12pt;">The
American Taxpayer Relief Act which was signed into law on January 2, 2013
provided “permanent” (unless continued political debate over the federal budget
result in further changes) rules that create a<span style="mso-spacerun: yes;">
</span>more predictable environment for planning and decision making.<span style="mso-spacerun: yes;"> </span>As pertains to the Federal Estate Tax the
following is now in effect:</span><br />
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">1.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12pt;">Who has to pay
federal estate tax?<span style="mso-spacerun: yes;"> </span></span></b><span style="font-family: "Times New Roman","serif"; font-size: 12pt;">If your estate
is in excess of $5 million dollars (excess of $10 million for couples), the
federal estate top tax rate would be 40%.<span style="mso-spacerun: yes;">
</span>Your estate will not be subject to federal estate tax if your estate
falls under these limits. <o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">2.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12pt;">Do spouses have
to pay the tax when they inherit from each other?<span style="mso-spacerun: yes;"> </span></span></b><span style="font-family: "Times New Roman","serif"; font-size: 12pt;">The unlimited spousal deduction from
estate tax still applies under the new law.<span style="mso-spacerun: yes;">
</span>Though there will not be a tax upon the death of the first spouse, the
tax would apply at the second spouse’s death if the estate exceeds the limits
noted in the first question.<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">3.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12pt;">What is the
status on lifetime gifts?<span style="mso-spacerun: yes;"> </span></span></b><span style="font-family: "Times New Roman","serif"; font-size: 12pt;">The federal estate
gift tax exemption is the same as the federal estate tax, $5 million dollars,
indexed for inflation. The 2013 exemption is $5,250,000.<span style="mso-spacerun: yes;"> </span>Gifts in excess of the limit will have a top
tax rate of<span style="mso-spacerun: yes;"> </span>40%.<span style="mso-spacerun: yes;"> </span>In 2013 you can give up to $14,000 to as many
individuals as you like and this does not require filing of a gift tax return.<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
Yvette E. Taylor-Hachoosehttp://www.blogger.com/profile/06434927868172885604noreply@blogger.com0tag:blogger.com,1999:blog-1121150019934042982.post-25186255271856397692013-01-02T15:11:00.000-05:002013-01-22T15:12:00.174-05:00Health Care Expenses<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiYvmljI-4DCJ0HHM4QSvk_TFQ-vLRKdv60DXUI9UkKkyM0ayoCdKUeij0PL7EaxX67bYkebQIucEhp1vxmMF4q_rBnBKk1BzIrr_Q_7-CMPJfy6dPokGj6iSj_mhRk92PIer8hPJxfKZzJ/s1600/baby+boomers.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="214" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiYvmljI-4DCJ0HHM4QSvk_TFQ-vLRKdv60DXUI9UkKkyM0ayoCdKUeij0PL7EaxX67bYkebQIucEhp1vxmMF4q_rBnBKk1BzIrr_Q_7-CMPJfy6dPokGj6iSj_mhRk92PIer8hPJxfKZzJ/s320/baby+boomers.jpg" width="320" /></a></div>
<span style="font-family: "Times New Roman","serif"; font-size: 12pt;">I
was reading an article recently in an AARP publication that experts now
estimate a couple aged 65 will need nearly $250,000 in addition to Medicare, to
pay for future medical costs.<span style="mso-spacerun: yes;"> </span>This
amount is much higher if nursing home care is ever needed.<span style="mso-spacerun: yes;"> </span>More importantly, if planning is not done,
children could be held responsible for their parents’ long term care debt.<o:p></o:p></span><br />
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<span style="font-family: "Times New Roman","serif"; font-size: 12pt;">Approximately
25% of seniors will spend some time in a skilled nursing facility and Medicare
benefits for these services are conditional and time limited.<span style="mso-spacerun: yes;"> </span>Therefore, the options for payment are,
private pay (if you have the money), long-term care insurance (if you purchased
when younger and healthy) or Medicaid.<span style="mso-spacerun: yes;"> </span>Medicaid
is only available to those eligible for the benefit.<span style="mso-spacerun: yes;"> </span>An individual or couple is required to spend
down assets to apply for Medicaid.<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 12pt;">In
a recent case, the court held that a son was liable for his mother’s nursing
home bill under Pennsylvania’s Filial Support law.<span style="mso-spacerun: yes;"> </span>This law is not new but was rarely used to go
after children.<span style="mso-spacerun: yes;"> </span>Financing healthcare and
protecting your estate can be complex.<span style="mso-spacerun: yes;">
</span>Minimizing your risks requires planning and proactive action that should
start with a comprehensive estate plan.<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
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Yvette E. Taylor-Hachoosehttp://www.blogger.com/profile/06434927868172885604noreply@blogger.com0tag:blogger.com,1999:blog-1121150019934042982.post-69579786814463843162012-12-15T15:03:00.000-05:002013-01-22T15:07:17.803-05:00Is Your Will “Fair”?<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiEMEwLSop9Fp3mEaVGkcwHdI-Ua3vv9ylQiBLiYrj2QqEO4mIscthqXahxrOfKOSB0fBQbD4HErfMFHQXIRewoa5DUXOGncc0L65LLtGP0EU2wDDZGEfe3dE40lQB_r7GHEx7ZjfHYu8S6/s1600/family.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiEMEwLSop9Fp3mEaVGkcwHdI-Ua3vv9ylQiBLiYrj2QqEO4mIscthqXahxrOfKOSB0fBQbD4HErfMFHQXIRewoa5DUXOGncc0L65LLtGP0EU2wDDZGEfe3dE40lQB_r7GHEx7ZjfHYu8S6/s320/family.jpg" width="320" /></a></div>
<span style="font-family: "Times New Roman","serif"; font-size: 12pt;"><strong>When
it comes to your children, should everyone be treated equally?</strong><span style="mso-spacerun: yes;"> </span><o:p></o:p></span><br />
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<span style="font-family: "Times New Roman","serif"; font-size: 12pt;">Sometimes
parents have a difficult choice to make when writing a will.<span style="mso-spacerun: yes;"> </span>One child may be financially successful and
secure.<span style="mso-spacerun: yes;"> </span>Another child could have a low
paying public service job.<span style="mso-spacerun: yes;"> </span>There may be
a child with special needs or a child who is unable to manage finances
responsibly.<span style="mso-spacerun: yes;"> </span>While there may be good
reasons to differentiate between children, unequal allocations of an estate can
strain sibling relationships and create unintended ill will in the surviving
family.<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12pt;">So, what is fair?<o:p></o:p></span></b></div>
<span style="font-family: "Times New Roman","serif"; font-size: 12pt;">Family
dynamics differ.<span style="mso-spacerun: yes;"> </span>The amount of
assistance provided to children during life time maybe unequal.<span style="mso-spacerun: yes;"> </span>The amount of care provided by one child for
an aging parent can further complicate the challenge.<span style="mso-spacerun: yes;"> </span></span><br />
<div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;">
<span style="font-family: "Times New Roman","serif"; font-size: 12pt;"><o:p> </o:p></span></div>
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12pt;">So, what is fair?</span></b><br />
<div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;">
<span style="font-family: "Times New Roman","serif"; font-size: 12pt;">Have
you considered meeting with your children to explain your wishes and obtain
agreement or, at least, understanding?<span style="mso-spacerun: yes;">
</span>Unless you have discussed with your children any unequal distributions, <b style="mso-bidi-font-weight: normal;">I highly recommend equal distribution under
your will.<o:p></o:p></b></span></div>
Yvette E. Taylor-Hachoosehttp://www.blogger.com/profile/06434927868172885604noreply@blogger.com0tag:blogger.com,1999:blog-1121150019934042982.post-67776286936684031142012-11-05T09:36:00.001-05:002012-11-05T13:55:00.284-05:00Aftermath of a Hurricane or the Perfect Storm I was talking to my Dad a couple of days before Hurricane Sandy (reduced to a storm at that time) was due to hit our area in Pennsylvania. He had already referenced it as the perfect storm with 3 weather systems colliding, this time on land. These perfect storm scenarios have happened out at sea but rarely on land. But, here we all were waiting on land for the collision.<br />
<br />
Though we were without electricity for 5 days, it was nothing compared to those who are still without electricity, have severely damaged homes; have no homes to go to; or, have loss loved ones in the aftermath of a perfect storm. Many of us ask, how can we help? What can I do? <br />
<br />
I was moved by my friend's story. Though still without power in New Jersey, she was able to obtain a generator to use sparingly since probane was not easy to obtain. She has now taken in a 94 year old and 91 year old couple who live in her neighborhood and has offered another spare room to her neighbors without power. Yes, in each of our own way, we can reach out to help. We do not have to wait for direction or permission or some organized venture. What can you share!! What can you give!! Answer and move on it!! <br />
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
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<tr><td class="tr-caption" style="text-align: center;"><div class="caption">
Felice Vazquez, 40, of Hoboken, greets a neighbor as she mans a table providing hot drinks and snacks on Washington Street as the buildings around them remain without power due to damage caused by Superstorm Sandy, Nov. 4, 2012, in Hoboken, N.J. <span class="credit">(John Minchillo/AP Photo )</span></div>
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiclb754Bsnc6cPdvgWFXWzEydL6jwPrVmcsb79qxhsBMxwHTqH3B8DxxfNwe7d_TIJdMf48MIbpCMaKpfS4NskTCGPlkfcvsyaT2o4107nck0yFGgF19fqOrsCHpPf87FyIlNiT1k7lc0k/s1600/155055554_ssh.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="247" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiclb754Bsnc6cPdvgWFXWzEydL6jwPrVmcsb79qxhsBMxwHTqH3B8DxxfNwe7d_TIJdMf48MIbpCMaKpfS4NskTCGPlkfcvsyaT2o4107nck0yFGgF19fqOrsCHpPf87FyIlNiT1k7lc0k/s320/155055554_ssh.jpg" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">A good samaritan provides electricity for storm victims to charge electronic devices on 11th Street, Oct. 31, 2012 in Hoboken, N.J. <span class="credit">(Jeff Zelevansky/Getty Images)</span></td></tr>
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgW0mndNN1bS4wU2p87MO1Juwj1A7PM7vMDJtUKFHxWFEPWlSMLy81wSS1K36TpfIMpuNInNo4wBOjSviFUHMIUBXhoAIk2JkBZwLF_UOapifhu0TR9s2o4fmSx8URx7hop0lxvLNXkES3N/s1600/ap_superstorm_sandy_17_dm_121031_ssh.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="247" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgW0mndNN1bS4wU2p87MO1Juwj1A7PM7vMDJtUKFHxWFEPWlSMLy81wSS1K36TpfIMpuNInNo4wBOjSviFUHMIUBXhoAIk2JkBZwLF_UOapifhu0TR9s2o4fmSx8URx7hop0lxvLNXkES3N/s320/ap_superstorm_sandy_17_dm_121031_ssh.jpg" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><div class="caption">
Workers try to clear boats and debris from the New Jersey Transit's Morgan draw bridge, Oct. 31, 2012, in South Amboy, N.J. <span class="credit">(Mel Evans/AP Photo )</span></div>
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEil66Oo9-aNGS5NQ_TEtM1pLZSw6v0Sl1anTWKUNz7wIaQMx4_Pf2727ctXEKDa48kEEcIZDa109xE1tk-UZLP-EB4MyKCrecuM9MyjpXfGcYAn-n110a-hYN73cZq0JFZp2wdAeKVMDd5O/s1600/ap_superstorm_sandy_32_dm_121031_ssh.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="247" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEil66Oo9-aNGS5NQ_TEtM1pLZSw6v0Sl1anTWKUNz7wIaQMx4_Pf2727ctXEKDa48kEEcIZDa109xE1tk-UZLP-EB4MyKCrecuM9MyjpXfGcYAn-n110a-hYN73cZq0JFZp2wdAeKVMDd5O/s320/ap_superstorm_sandy_32_dm_121031_ssh.jpg" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><div class="caption">
People line up to fill gas containers at the New Jersey Turnpike's Thomas A. Edison service area, Oct. 31, 2012, near Woodbridge, N.J. <span class="credit">(Mel Evans/AP Photo )</span></div>
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiPmd6mGfaw8nURqPTk9DzcFzSaRoLTu4k769b7awPaPOPstosMw1J7SErJRXPPa0SkNJMXVOE5f5QS2XD12mwU9XVAVuwYtmiRFsngQNYUfOaOUoAXaKS-pEGqM4eXi-bmY-ZvlI6GcHod/s1600/Sandy.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="247" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiPmd6mGfaw8nURqPTk9DzcFzSaRoLTu4k769b7awPaPOPstosMw1J7SErJRXPPa0SkNJMXVOE5f5QS2XD12mwU9XVAVuwYtmiRFsngQNYUfOaOUoAXaKS-pEGqM4eXi-bmY-ZvlI6GcHod/s320/Sandy.jpg" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><div class="caption">
People wait to use a pay phone on Bright Beach Avenue, Oct. 31, 2012, in the Brooklyn borough of New York. <span class="credit">(John Minchillo/AP Photo )</span></div>
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Yvette E. Taylor-Hachoosehttp://www.blogger.com/profile/06434927868172885604noreply@blogger.com0tag:blogger.com,1999:blog-1121150019934042982.post-17104890810241472692012-08-01T08:20:00.000-04:002012-08-01T08:19:59.965-04:00Vidal Gore Dies at 86<div class="separator" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh78TPz9Xep9DTTOxmHokqaYEVPqxVe-N4oCWiebBpmhyHTl1VoZN23URJfU_DcNoYDXG45oElWGyt_X0Cu9wYeW7W2DDhvhivzuTZ8nhwEz0bwLE_XagfhGrDFH5mJl7pXqoC4qnEmAGDF/s1600/Vidal+Gore.jpg" imageanchor="1" style="clear: right; cssfloat: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" eda="true" height="276" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh78TPz9Xep9DTTOxmHokqaYEVPqxVe-N4oCWiebBpmhyHTl1VoZN23URJfU_DcNoYDXG45oElWGyt_X0Cu9wYeW7W2DDhvhivzuTZ8nhwEz0bwLE_XagfhGrDFH5mJl7pXqoC4qnEmAGDF/s320/Vidal+Gore.jpg" width="320" /></a></div>
The author, playwright, politician and commentator whose vast and sharpened range of published works and public remarks were stamped by his immodest wit and unconventional wisdom, died Tuesday at age 86 in Los Angeles. <br />
<br />
Vidal Gore was revered by many throughout his varied and vast career. His legacy included hundreds of essays, the best-selling novels “Lincoln” and “Myra Breckenridge” and the Tony-nominated play “The Best Man,” a melodrama about a presidential convention revived on Broadway in 2012.<br />
<br />
How will you be remembered? Contact us at <a href="http://www.ythlaw.com/">www.ythlaw.com</a> for all your estate planning needs.Yvette E. Taylor-Hachoosehttp://www.blogger.com/profile/06434927868172885604noreply@blogger.com0tag:blogger.com,1999:blog-1121150019934042982.post-41013406595040120142012-07-31T12:18:00.005-04:002012-07-31T12:25:00.514-04:00When sending your Child to College a Power of Attorney is a Must Have!<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEht7XYfYD7Nq8Eb7hfnmGvmGE9OPvlSfskv7bQAj6urJA2gCqh_bnmJsIOKKVnWi6fWqMNM0yjG7kd-pqoDsfDkIv09oE8QGSJWA6uk0GHLPORAB_rNatr9gfRUqANkeimic5O_Y71HV3Av/s1600/college+kid.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEht7XYfYD7Nq8Eb7hfnmGvmGE9OPvlSfskv7bQAj6urJA2gCqh_bnmJsIOKKVnWi6fWqMNM0yjG7kd-pqoDsfDkIv09oE8QGSJWA6uk0GHLPORAB_rNatr9gfRUqANkeimic5O_Y71HV3Av/s320/college+kid.jpg" width="320" /></a></div>
<span style="font-family: "Times New Roman","serif"; font-size: 12pt;">If
you have a young adult (18 or older) or you are a young adult, it is important
to have powers of attorney in place.<span style="mso-spacerun: yes;">
</span>Parents are often surprised that they do not automatically have access
to their child’s healthcare information or other college records.<span style="mso-spacerun: yes;"> </span>If your child is in an accident, you do not
want to go through red tape to address their health needs.<span style="mso-spacerun: yes;"> </span>But, that is what will happen if the right
documents are not in place.<span style="mso-spacerun: yes;"> </span></span><br />
<div class="MsoNormal" style="line-height: normal; margin: 5pt 0in; mso-layout-grid-align: none;">
<span style="font-family: "Times New Roman","serif"; font-size: 12pt;">As a
young adult, you want to have someone you trust and who cares about you
available to handle your health issues and other affairs if you are in a car
accident, have a serious sports injury or experience some other traumatic event.<span style="mso-spacerun: yes;"> </span>Your medical information can only be shared
with the person you designate.<span style="mso-spacerun: yes;"> </span>Prepare
for the unexpected to assure the road to recovery does not take a detour.<span style="mso-spacerun: yes;"> </span></span></div>
<div class="MsoNormal" style="line-height: normal; margin: 5pt 0in; mso-layout-grid-align: none;">
<span style="font-family: "Times New Roman","serif"; font-size: 12pt;"><strong><u>Here
are some answers to your important questions.</u></strong><span style="mso-spacerun: yes;">
</span></span></div>
<div class="MsoNormal" style="line-height: normal; margin: 5pt 0in; mso-layout-grid-align: none;">
<strong><span style="font-size: 12pt;">When does an agent sign the power
of attorney? </span></strong><span style="font-family: "Times New Roman","serif"; font-size: 12pt;">The
agent does not have to sign at the time that you sign your power of attorney.
The agent's signature does not have to be notarized only your signature. Your
agent signs when you are in need of their help.<span style="mso-spacerun: yes;">
</span><o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: normal; margin: 5pt 0in; mso-layout-grid-align: none;">
<strong><span style="font-size: 12pt;">How do you revoke an agent's
authority? </span></strong><span style="font-family: "Times New Roman","serif"; font-size: 12pt;">You
should maintain your original powers of attorney. If you no longer want a
person to serve as your agent, then the powers of attorney should be destroyed
and new ones entered into. If your agent has an original power of attorney,
then you must get it back and destroy it. Otherwise, you have to inform those
individuals who may rely on the power of attorney that you have revoked your
agent's authority. ALWAYS appoint someone whom you trust. <o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: normal; margin: 5pt 0in; mso-layout-grid-align: none;">
<strong><span style="font-size: 12pt;">Springing Power of Attorney.<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span></span></strong><span style="font-family: "Times New Roman","serif"; font-size: 12pt;">There is another
type of power of attorney referred to as a springing power of attorney. It can
only be used if a doctor has certified your incapacity and such certification
must be attached to the power of attorney for it to be effective. The springing
power of attorney is revoked once you regain capacity. </span><strong><br /></strong></div>
<strong><a href="http://www.ythlaw.com/" target="_blank">Call me today</a> and I'll get your child's Power of Attorney done before they leave for school.</strong>Yvette E. Taylor-Hachoosehttp://www.blogger.com/profile/06434927868172885604noreply@blogger.com0tag:blogger.com,1999:blog-1121150019934042982.post-81792747740721415802012-07-30T15:21:00.002-04:002012-07-30T15:25:57.543-04:00Selecting a Guardian Might Come With Some Drama<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhasBfcPc3trr1VzPk44E670WzVYxklxaoHYy0ktbnfzZ3MmNaHSkk0qrzYASxpRGWJsrHgymS4N2Ctm_g8XpO1ghfOYa7CDb0vwrjdWjfgd21atJY94nz1Cpxzpo1ZBP1Cn8aSnlJbZCbA/s1600/Paris+Jackson.png" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhasBfcPc3trr1VzPk44E670WzVYxklxaoHYy0ktbnfzZ3MmNaHSkk0qrzYASxpRGWJsrHgymS4N2Ctm_g8XpO1ghfOYa7CDb0vwrjdWjfgd21atJY94nz1Cpxzpo1ZBP1Cn8aSnlJbZCbA/s320/Paris+Jackson.png" width="320" /></a></div>
<span style="font-family: "Times New Roman","serif"; font-size: 12pt;">Just before the news broke regarding the
guardianship of Michael Jackson’s children, I received this question.<span style="mso-spacerun: yes;"> </span>Can the selection of guardian for minor
children withstand a legal challenge by the grandmother?<span style="mso-spacerun: yes;"> </span>In this particular situation, a non-relative
was chosen by a couple as the guardian of their children.<span style="mso-spacerun: yes;"> </span>The wife’s mother was not pleased when she
found out her daughter’s decision.<span style="mso-spacerun: yes;"> </span><o:p></o:p></span>
<br />
<div class="MsoNormal" style="line-height: normal; margin: 5pt 0in; mso-layout-grid-align: none;">
<span style="color: black; font-family: "Times New Roman","serif"; font-size: 12pt;">Selecting the guardian for your minor children is one reason for
having a Will.<span style="mso-spacerun: yes;"> </span>Even though your
selection could be challenged (it’s the American way), it does not mean it will
be successful.<span style="mso-spacerun: yes;"> </span>The courts generally
uphold the appointment of the guardian selected by the parents. Any challenge
would have to allege and demonstrate that the guardian selected is unfit or
unable to properly care for the children.<span style="mso-spacerun: yes;">
</span>The court considers what is in the best interest of the child.<span style="mso-spacerun: yes;"> </span>Status as a relative is not a controlling or
determining factor.<span style="mso-spacerun: yes;"> </span>A grandmother does
not have a legal right to override the parents’ selection merely because the
grandmother prefers to serve or have a relative serve as guardian.<span style="mso-spacerun: yes;"> </span>Parents are generally in the best position to
determine who would be in the best position to care for their children.<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span></span></div>
<div class="MsoNormal" style="line-height: normal; margin: 5pt 0in; mso-layout-grid-align: none;">
<span style="color: black; font-family: "Times New Roman","serif"; font-size: 12pt;">That being said, it is wise to have conversations regarding
guardianship with those whom you know will be upset with your selection and
work through those issues during your lifetime.<span style="mso-spacerun: yes;">
</span>Further, you should update your selection as circumstances change,
including aging, financial stability and interest.<span style="mso-spacerun: yes;"> </span>It is not in your child’s best interest for
them to be embroiled in a legal battle when they have already lost so much. <o:p></o:p></span></div>Yvette E. Taylor-Hachoosehttp://www.blogger.com/profile/06434927868172885604noreply@blogger.com0tag:blogger.com,1999:blog-1121150019934042982.post-22491538352516976262012-07-29T14:12:00.000-04:002012-08-01T14:13:55.473-04:00The Importance for the LGBT Community to Engage in Estate Planning…<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhE-MwThPDbE-kuYP8EKehCMD236khdLOfQBrALZwNCs9NDBaXW1fQCc5LxXuq-rM-he6szDchdK1YI_i-4W7Bdr0OuteOetRSVHUvd8apEm-5D4UXTStbwG5xNFWnAFDHbBeBxUhJWLWdZ/s1600/gay-flag.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="267" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhE-MwThPDbE-kuYP8EKehCMD236khdLOfQBrALZwNCs9NDBaXW1fQCc5LxXuq-rM-he6szDchdK1YI_i-4W7Bdr0OuteOetRSVHUvd8apEm-5D4UXTStbwG5xNFWnAFDHbBeBxUhJWLWdZ/s320/gay-flag.jpg" width="320" /></a>It is just as important, if not more important, for </div>
<div class="MsoNormal" style="margin: 0in 0in 10pt;">
<span style="font-family: "Times New Roman","serif"; font-size: 12pt; line-height: 115%;">couples of the same gender </span>to engage in estate planning. </div>
I was talking with a CPA specializing in estate planning about the unique tax issues that arise in domestic relationships. Specifically, she expressed that couples of the same gender, unlike married couples, have no IRS exclusion for property or monetary transfers between them. Such transfers could be subject to gift tax and transfer tax. If there are significant assets involved in a separation between<span style="font-family: "Times New Roman","serif"; font-size: 12pt; line-height: 115%;">couples of the same gender</span>, even if the financial provider wanted to be fair with property division, the tax consequences may be prohibitive. After the lifetime exclusion of 5 million, which may go back to 1 million, the excess will have a gift tax imposed. The maximum gift tax rate in 2012 is 35%, and it may be raised in later years.<span style="mso-spacerun: yes;"> </span>The gift tax rate is a hefty tax for anyone to pay. <br />
<span style="color: #222222;">To the extent you can address tax situations as well as protect your relationship, cohabitation/domestic partnership agreements are advisable. They are particularly beneficial in the following situations:</span><br />
<span style="color: #222222;"><br /><b style="mso-bidi-font-weight: normal;">1. when a second person's name is added to a deed after considerable equity has already been established in the home during ownership by the first owner. The agreement will help clarify ownership interest in the real estate. <br /><br />2. when property purchased jointly is only held in one person's name<br /><br />3. when one person is the financial provider and the other is a homemaker<br /><br />4. when unequal contributions are made towards the purchase of jointly held property<br /><br />5. when there is an interest in giving benefits or rights to another that are not required or available under the law<br /><br />6. when assets are co-mingled or combined<br /><br />7. when there are family members who may dispute the interest of a domestic partner.</b><br />It is always wise to have an agreement between couples of the same gender.<span style="mso-spacerun: yes;"> </span>There are many situations that we can not anticipate, and having an agreement in place is always helpful.<span style="mso-spacerun: yes;"> </span></span><br />
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<span style="color: #222222;"><span style="mso-spacerun: yes;"><a href="http://www.ythlaw.com/" target="_blank">Call me today</a> if you have questions pertaining to Estate Planning for the LGBT Community</span></span>Yvette E. Taylor-Hachoosehttp://www.blogger.com/profile/06434927868172885604noreply@blogger.com0tag:blogger.com,1999:blog-1121150019934042982.post-75278671742866616472012-07-23T09:24:00.001-04:002012-07-25T12:04:18.796-04:00Dark Knight Rises - Aurora, Colorado<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi3YTzMs2DA2MzknnwhTiOcX7lszfSyvZs5zEY_rVPPMnDDl9-LgbP6ncPI0W2Plmr4WKD1R5p2TOXQPMvEeDt3kMC5-BjuxbigVZdYwJ6Fvb7pyrwZHeEjhS8_bKLipuaAOTqzhc8ocfYY/s1600/OBAMA-SHOOTING-VICTIM.jpg" imageanchor="1" style="clear: right; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="214" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi3YTzMs2DA2MzknnwhTiOcX7lszfSyvZs5zEY_rVPPMnDDl9-LgbP6ncPI0W2Plmr4WKD1R5p2TOXQPMvEeDt3kMC5-BjuxbigVZdYwJ6Fvb7pyrwZHeEjhS8_bKLipuaAOTqzhc8ocfYY/s320/OBAMA-SHOOTING-VICTIM.jpg" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">President Barack Obama hugs Stephanie Davies, who helped keep her friend, Allie Young, left, alive after she was shot during the movie Aurora movie theater shootings in Aurora, Colorado. </td></tr>
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When I heard about the tragedy Friday morning the 20th, my heart went out to all the families directly affected and all of us who can only imagine the pain. We can not allow such senseless tragedy to take over even our simple pleasures. <br />
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This pass weekend my family gathered to celebrate my mother's 76th birthday. Of course, one of our usual outings with the children during these festivities is going to the movies. But, naturally, we took pause as the Aurora tragedy continued to unfold. No one was up for a midnight Batman so Spiderman won out. Those going to the movie were much more vigilante in assessing their surroundings. But, come on, is this how we must live our life? Can we, as a people, as human beings, figure out how to take back control over the simple act of going to the movie with your children? <br />
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I ask because I do not know the answer. I blog, I tweet, I facebook, I ponder!!Yvette E. Taylor-Hachoosehttp://www.blogger.com/profile/06434927868172885604noreply@blogger.com0tag:blogger.com,1999:blog-1121150019934042982.post-82518302568250606142012-07-19T10:29:00.004-04:002012-07-19T16:01:55.543-04:00Planning Ahead - Get Your Affairs in Order<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgEVTxDdQ0nOzbamLsczWdqm91jSyY8Fari_B-k7EepQUFKH8zxEXkng8kCEeTFawg3KzXMY0LjdVzqe8171AJ1o8Asqa2zWZORQxStlsKzNNfS1nfpswePdwUfeVt8VO2MHzikHfB5sR9z/s1600/game-of-life.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="178" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgEVTxDdQ0nOzbamLsczWdqm91jSyY8Fari_B-k7EepQUFKH8zxEXkng8kCEeTFawg3KzXMY0LjdVzqe8171AJ1o8Asqa2zWZORQxStlsKzNNfS1nfpswePdwUfeVt8VO2MHzikHfB5sR9z/s320/game-of-life.jpg" width="320" /></a></div>
Woody Allen is credited with saying, “<em><strong>If you want to make God laugh, tell him your plans</strong></em>.” I would be the first to admit that we certainly aren’t in control of as much as we’d like to think we are. So, in my estate planning with clients, I like to take a look at where they have been. That is the back story, the legacy piece that we ALL have and that keeps my work interesting, intriguing and varied.<br />
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More than plan, I create a map, of sorts, for my clients. The future has many twists and turns, alternative routes, hills and valleys. Our estate planning "map" could include Wills, Trusts, Powers of Attorney, Gifting, etc. It provides for our intentions BUT allows the details to unfold in accordance with the universal principles. The estate planning "map" for each client has flexibility and often is updated with changing circumstances.<br />
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<strong>Once we have our estate planning "map" which details our wishes, needs and desires, we can focus with clarity around our intent and accept that the details are not within our control, only our intentions. </strong>Contact us at <a href="http://www.ythlaw.com/">www.ythlaw.com</a>Yvette E. Taylor-Hachoosehttp://www.blogger.com/profile/06434927868172885604noreply@blogger.com0tag:blogger.com,1999:blog-1121150019934042982.post-83031713179976666322012-07-18T13:30:00.001-04:002012-07-19T16:20:58.023-04:00A Will Serves Many Purposes<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjqnFYITeJhYVxfWSxYXEAc8ufoYkmO_xqg9_4dfotwBEd9OKTnMyD0mUqok0WYi0OZScJ6MTicNfQPoFcR5B4IVm7AcsSK7kOSa85ObqP9zFZYnnhC-dnxICM8yMOp8G0VBOiftaudEVMl/s1600/lawsuit%2520settlement%2520loans.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="239" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjqnFYITeJhYVxfWSxYXEAc8ufoYkmO_xqg9_4dfotwBEd9OKTnMyD0mUqok0WYi0OZScJ6MTicNfQPoFcR5B4IVm7AcsSK7kOSa85ObqP9zFZYnnhC-dnxICM8yMOp8G0VBOiftaudEVMl/s320/lawsuit%2520settlement%2520loans.jpg" width="320" /></a></div>
On this hot, 97 degree day in July, I share with you this hot tip. Really, truly, for the most part, none of us know how we might die. We know we will die, but not when or how. So when folks say "<strong><em>I do not need a Will, I have "nothing","</em></strong> I share this story.<br />
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A young man's mother was killed in an automobile accident. The other driver ran a red light going at a high rate of spend in his deliver vehicle. He survived with minor injuries and was declared to be at fault. He was sued by the son for wrongful death of the mother. The insurer for the driver's fleet of deliver trucks settled the suit for excess of $900,000. Though the mother had "nothing" her estate now is worth $900,000. <strong><u>Who gets her assets?</u></strong> She was estranged from her husband for 17 years (never divorced) and she had 3 children (her son with whom she lived, a daughter with drug issues and another daughter who died leaving her only grandchild).<br />
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The intestate law would distribute the estate to the husband, son and daughter. The grandchild would not be entitled to any of the estate. <strong> Is this the result that would have been intended if a Will was done?</strong><br />
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Contact us at <a href="http://www.ythlaw.com/">www.ythlaw.com</a> for your probate, estate planning and elder law needs.Yvette E. Taylor-Hachoosehttp://www.blogger.com/profile/06434927868172885604noreply@blogger.com0tag:blogger.com,1999:blog-1121150019934042982.post-34630595394133742512012-07-17T12:50:00.001-04:002012-07-18T12:21:49.102-04:00Beneficiary Designations are Important<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhH2pZbzmymrfwFJ1DJk8f1_oStplko6sKeJQmnGrEv-HzyIroUfl5HyPzl8d46iwyKuotKjem7TPNcw7BLXv4Z8ERH7eNnWGEN7JghYy4ngBeaJTkyECbk7TcaIgY_4YnVNF6h_MezZeCR/s1600/park-bench-7.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhH2pZbzmymrfwFJ1DJk8f1_oStplko6sKeJQmnGrEv-HzyIroUfl5HyPzl8d46iwyKuotKjem7TPNcw7BLXv4Z8ERH7eNnWGEN7JghYy4ngBeaJTkyECbk7TcaIgY_4YnVNF6h_MezZeCR/s320/park-bench-7.jpg" width="320" /></a>I was recently working on an estate matter which demonstrated the importance of updating and keeping track of your beneficiary designation. Many of our seniors obtain life insurance to provide for their funeral. However, the person designated as the beneficiary does <strong>NOT</strong> have to use the monies for the funeral. <strong>They could choose to keep the money for their own benefit. </strong><br />
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In this case, the person designated her brother as the beneficiary under her life insurance policy. He had agreed to use the money to take care of her funeral expenses. Since he WAS her closest living relative, he would not have to come out of pocket to bury his sister. <strong>WELL, </strong>her brother predeceased her and her secondary beneficiary was her niece (her brother's daughter) who did not have the same interest as the decedent's brother. The niece wants to use the insurance to purchase a house and is only willing to provide some funds towards a funeral<strong>. What is to be done</strong>? Either the other family members will have to all contribute towards a funeral or there will be a cremation or an inexpensive service, less than what would have been affordable with the insurance proceeds. <br />
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<strong>SO</strong>, keep your beneficiaries up to date <strong>BUT</strong> more importantly it would be better to just prepay your funeral and not depend on others to use insurance proceeds in your best interest. Contact us with your estate planning, probate, guardianship, and business succession planning needs at www.ythlaw.comYvette E. Taylor-Hachoosehttp://www.blogger.com/profile/06434927868172885604noreply@blogger.com0tag:blogger.com,1999:blog-1121150019934042982.post-30815212764585103242012-07-11T09:30:00.000-04:002012-07-12T12:23:19.977-04:00Prenuptial Agreements and the Business Owner<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg5wVTzlKHgnfB-9dKhLJO8Mx_6QsVNXXG-OzO0WZvNpePsS7OHpwqJoq5r96aPXihYbhRHvxbaxTIxe7Nv4LR_i0uH-SN7BmgVvOL6PVDRPlpfC8ZNuhHNtyqrKb2TMOhdvi-XL4H-sk69/s1600/Prenup-300x284.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg5wVTzlKHgnfB-9dKhLJO8Mx_6QsVNXXG-OzO0WZvNpePsS7OHpwqJoq5r96aPXihYbhRHvxbaxTIxe7Nv4LR_i0uH-SN7BmgVvOL6PVDRPlpfC8ZNuhHNtyqrKb2TMOhdvi-XL4H-sk69/s1600/Prenup-300x284.jpg" /></a></div>
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I was talking with a new business owner. He just purchased a service station and was so excited about this new venture. He had worked in the business since high school and so was quite sophisticated in business matters at such a young age of 29. He had also met the love of his life on an on-line dating service. Now, his dilemma is he wants to get married but does not want to have his business part of the assets of this new union. Not a problem at all with the use of a Prenuptial Agreement. <br />
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A business owner may want to protect his exclusive rights to the business if the marriage fails, as in the case for this business owner, or control the diposition of the buiness after his death, ie. for parents or the child of a prior marriage. For purposes of best practices, the following should always be consider and done:<br />
1. Make sure it is voluntary and not done under duress.<br />
2. Make a fair financial disclosure.<br />
3. Share the proposed agreement well before the wedding and even before the wedding date is set.<br />
4. Demonstrate some fair negotiation if one party clearly is less well off than the other.<br />
5. Each party should have their own counsel even if one has to pay for the others.<br />
6. Fairness should be demonstrated in the process when their is an economically weaker party.<br />
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Contact us for all your probate, guardianship, estate planning, business succession planning and prenuptial agreement needs at <a href="http://www.ythlaw.com/">www.ythlaw.com</a>. <br />
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<br />Yvette E. Taylor-Hachoosehttp://www.blogger.com/profile/06434927868172885604noreply@blogger.com0tag:blogger.com,1999:blog-1121150019934042982.post-36394695273302592052012-06-05T15:42:00.000-04:002012-06-05T15:42:27.936-04:00I am back to my blogging. I started answering questions posted on AVVO. As a result, I did not blog as much. However, I think the information shared blogging helps people i n their quest to understand the world of estate planning. AND so, I am back and will be posting more and more informative blog posts for you and your family. <br />
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Today, I mentioned the importance of a Special Needs Trust to supplement funding to those with disabilities on governmental assistance. Specifically, I am looking at the type of Special Needs Trust referred to as third party funded trust. These are trusts that do not hold monies of the disabled person but money of one who wants to care for the disabled person, a parent, grandparent or other relative. If you provided these funds directly to the disabled person, then their benefits could be affected. You do not want to have that happen. So look into creating a Special Needs Trust at your earliest convenience. <br />
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We are here to help at <a href="http://www.ythlaw.com/">www.ythlaw.com</a><br />Yvette E. Taylor-Hachoosehttp://www.blogger.com/profile/06434927868172885604noreply@blogger.com0tag:blogger.com,1999:blog-1121150019934042982.post-547756021224828512012-04-13T10:49:00.000-04:002012-04-13T10:49:00.761-04:00RSVP Today: 215.321.4033<h2 class="MsoNormal" style="margin: 0in 0in 10pt; text-align: center;"><u>You’re invited to our next Free Seminar </u></h2><h2 class="MsoNormal" style="margin: 0in 0in 10pt; text-align: center;"><u>May 3, 2012</u></h2><div align="center" class="MsoNormalCxSpFirst" style="margin: 1em 0px; text-align: center;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">The Guardianship Process:</span></div><div align="center" class="MsoNormalCxSpMiddle" style="margin: 1em 0px; text-align: center;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;">Learn How to Become Guardian for a Loved One</span><br />
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<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh3wxS0lCnbBEzvY3tQoQA_stm4ctjNGBHPmmUSBAhuBvD54hNC9uyBrXZG03l5dtvcptsK6UhysRXAVM-243rMIhUyPXNmLMvZaN20Pfwc3OJCqNC5covqXdL5dXISEdv2EzdN-a84S3nZ/s1600/May+3.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh3wxS0lCnbBEzvY3tQoQA_stm4ctjNGBHPmmUSBAhuBvD54hNC9uyBrXZG03l5dtvcptsK6UhysRXAVM-243rMIhUyPXNmLMvZaN20Pfwc3OJCqNC5covqXdL5dXISEdv2EzdN-a84S3nZ/s320/May+3.jpg" width="229" /></a></div></div>Yvette E. Taylor-Hachoosehttp://www.blogger.com/profile/06434927868172885604noreply@blogger.com0tag:blogger.com,1999:blog-1121150019934042982.post-68309766261324766742012-02-12T12:32:00.003-05:002012-02-12T13:56:58.447-05:00Whitney Houston Dies at 48. A Legacy of Musical Talent<div class="separator" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgVJZH-M6FAgfEPTM7O1IsmD01VgN_ssHpITSDycSxooL7NnhfLFU7_TuzwEqHqcFW1X-R9BUJIWvlE9jnOOQmVJdJK_YdpBxtMkqI_XdLhqwZcRhlqgrd-YuzeFPIVA2c0an20K5P7u389/s1600/Whitney+Houston.jpg" imageanchor="1" style="clear: right; cssfloat: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" sda="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgVJZH-M6FAgfEPTM7O1IsmD01VgN_ssHpITSDycSxooL7NnhfLFU7_TuzwEqHqcFW1X-R9BUJIWvlE9jnOOQmVJdJK_YdpBxtMkqI_XdLhqwZcRhlqgrd-YuzeFPIVA2c0an20K5P7u389/s1600/Whitney+Houston.jpg" /></a></div>Whitney Houston was a Pop Diva of the 80's and 90's. with a musical career prior to that time and after. We all have our favorite Whitney songs. I loved her performance of "The Greatest Love of All", "I Wanna Dance with Somebody", "I Believe in You and Me" and my all time favorite is "I Will Always Love You". I enjoyed her performances in The Body Guard and every Christmas we enjoy watching The Preacher's Wife. <br />
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She is now among the many muscial giants who have passed on. She will be missed and may her family, friends and fans find comfort in memories of her and the tremendous musical legacy she left behind. Yvette E. Taylor-Hachoosehttp://www.blogger.com/profile/06434927868172885604noreply@blogger.com2tag:blogger.com,1999:blog-1121150019934042982.post-47985897404678862442012-02-01T12:50:00.003-05:002012-02-01T14:25:41.482-05:00Soul Train's Creator Dies at 75<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiWJdqCOVGvTfsFGisbW22t4ENJrmFz0LtQMRfdeN3hYTAEq5teTNaqOnEuLWHhIos2fPA6w2xchPWvspmLd1B4PPlFYh_ZAyKKdr8_gcI3qNug_TnYhMW_kNy7gkhIrPP7T4b_vLdAD4MU/s1600/don_cornelius_9_b.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiWJdqCOVGvTfsFGisbW22t4ENJrmFz0LtQMRfdeN3hYTAEq5teTNaqOnEuLWHhIos2fPA6w2xchPWvspmLd1B4PPlFYh_ZAyKKdr8_gcI3qNug_TnYhMW_kNy7gkhIrPP7T4b_vLdAD4MU/s1600/don_cornelius_9_b.jpg" /></a></div>I grew up on Soul Train. I was a teenager when it first aired. Top artists of the times appeared on Soul Train. However, what stood out most for me, was the awesome dancing. To this day, when you get a group of adults together at a party with great dance music, the "Soul Train" line is formed. And the memories take over even though the body can not necessarily take you there!! <br />
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Don Cornelius was clearly a legend who will be missed by family, friends and admirers.Yvette E. Taylor-Hachoosehttp://www.blogger.com/profile/06434927868172885604noreply@blogger.com0tag:blogger.com,1999:blog-1121150019934042982.post-30754904364729459282012-01-23T16:21:00.002-05:002012-01-27T11:07:32.537-05:00Legendary Coach Joe Paterno Dies at 85<div style="border: currentColor;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhSWWHMbFEb6h1tXgFiL5YYFnqE8L7xa_-1Br9m3cyAWsfMruZq2KU8nyu1lgoIgVCE31ZLxS5v54B4Lhq8JGbJZOrzj-rIXCX_5GcfihfAfzn3l8-SHe_NCDydo3z6XiwJaE45gbBS4yML/s1600/Paterno.jpg" imageanchor="1" style="clear: right; cssfloat: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" nfa="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhSWWHMbFEb6h1tXgFiL5YYFnqE8L7xa_-1Br9m3cyAWsfMruZq2KU8nyu1lgoIgVCE31ZLxS5v54B4Lhq8JGbJZOrzj-rIXCX_5GcfihfAfzn3l8-SHe_NCDydo3z6XiwJaE45gbBS4yML/s1600/Paterno.jpg" /></a>For over 46 years, Joe Paterno served as head coach of Penn State's Nittany Lions. He won over 409 games and took the Nittany Lions to 37 bowl games and two national championships- earning a spot in the Hall of Fame. More than 250 of the players he coached went on to the NFL. </div><div style="border: currentColor;"><br />
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What will be the legacy of this man who in the last few months of his life endured bitter scrutiny over a failure to take action that many felt he was compelled to take and did not? Some still feel that he should and will go down as the greatest football coach in the history of the game.<br />
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When it is all said and done, it is our legacy that we leave behind. Though we do not ultimately write it (some with forethought actually do), our life's work has to speak for itself. The difference that we make while we live is the purpose that we served. It should be how any fiinal act in our life is judged.<br />
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Contact us at <a href="http://www.ythlaw.com/">http://www.ythlaw.com/</a> for your estate planning, probate, guardianship and elder law needs. <br />
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Yvette E. Taylor-Hachoosehttp://www.blogger.com/profile/06434927868172885604noreply@blogger.com0tag:blogger.com,1999:blog-1121150019934042982.post-48126451960629731082012-01-21T12:54:00.000-05:002012-01-23T13:50:49.387-05:00Legendary Jazz Singer "Etta James" Dies<div class="separator" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhkTu45XH7noe3wBsbiucDKdFWNTLMWA3GEboxlkRQifPUC6qi7x51SSmAJ1R1F9H4ProXiEyjFymSbplwbQtuAL_u6HNtlbuGbrRHmuUiLfWeh7xDhX7AK4LOXR7PLoBs71sxG4m48Nw3G/s1600/Etta+James.jpg" imageanchor="1" style="clear: right; cssfloat: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="320" nfa="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhkTu45XH7noe3wBsbiucDKdFWNTLMWA3GEboxlkRQifPUC6qi7x51SSmAJ1R1F9H4ProXiEyjFymSbplwbQtuAL_u6HNtlbuGbrRHmuUiLfWeh7xDhX7AK4LOXR7PLoBs71sxG4m48Nw3G/s320/Etta+James.jpg" width="297" /></a></div>The legendary jazz and blues singer Etta James dies at 73. She was a pioneer whose legacy will be remembered as her ever-changing sound has influenced rock and roll, rhythm and blues, pop, soul and jazz. She was one of the most important female artists of her time. <br />
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We will follow her estate as it is settled between her heirs. For now, we remember her music and her life.<br />
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Contact us at <a href="http://www.ythlaw.com/">http://www.ythlaw.com/</a>Yvette E. Taylor-Hachoosehttp://www.blogger.com/profile/06434927868172885604noreply@blogger.com0