Source: https://de.slideshare.net/BruceGivner/14-0904-everything-you-always-wanted-to-know-about-postmortem-planning
Timestamp: 2019-04-23 09:24:18+00:00

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1. LAW OFFICES GIVNER & KAYE BRUCE G'. V”ER APROFESSIONAL CORPORATION PHONE (310) 207-8008 (owen@¢iVne, Ka, .e_com) 12100 WILSHIRE BOULEVARD KATHLEEN GIVNER LOS ANGELES, CALIFORNIA 90025 FAX (310) 207'87‘33 (kath GivnerKa e. com) www. GivnerKaye. com (818) 785'3027 NEDA BARKHORDAR (neda@GivnerKaye. com) September 4, 2014 Everything You Always Wanted To Know About Post-Mortem Planning But Were Afraid To Ask 1. Forthcoming Seminars. September 18 — Everything You Always Wanted To Know About Insurance Trusts But Were Afraid To Ask October 2 - Conservatorships & Elder Abuse — An Introduction November6 - Funding Stale Trusts After The First Spouse’s Death: Estate of Olsen v. Commissioner (And Related Issues) November 20- IRS National Office Private Letter Rulings (and the California Equivalents). User Fees. Legal Fees. Topics, e. g., IRAs, Section 355 Split-Offs. Timing. Opinion Letters and the Accuracy—Related Penalty. December 4 — Everything You Always Wanted To Know About Controlled Foreign Corporations and Subpart F Income But Were Afraid To Ask December 18 - Everything You Always Wanted To Know About Public Charities and Private Foundations But Were Afraid To Ask 2. Tax Planning For When The First Spouse Dies. 2.1. Relying on Portability? 2.2. Relying On A Disclaimer? 3. Getting Rid Of An Unwanted Bypass Trust. Fund the bypass trust with a promissory note? Get the surviving spouse and all of the beneﬁciaries to agree so you don’t have to go to court? ? Notice of Proposed Action under Probate Code §1650O because it is not one of the prohibited acts?
2. LAW OFFICES GIVNER & KAYE A PROFESSIONAL CORPORATION Post-Mortem Planning September 4, 2014 Page 2 of 3 §17200 petition to terminate the trust under §15403: (a) Except as provided in subdivision (b), if all beneficiaries of an irrevocable trust consent, they may compel modification or termination of the trust upon petition to the court. (b) If the continuance of the trust is necessary to carry out a material purpose of the trust, the trust cannot be modiﬁed or terminated unless the Court, in its discretion, determines that the reason for doing so under the circumstances outweighs the interest in accomplishing a material gurgose of the trust. Under this section the court does not have discretion to permit termination of a trust that is subject to a valid restraint on transfer of the beneficiary's interest as provided in Chapter 2 (commencing with §15300). Does the reference to §153OO as to termination mean that you get rid of the bypass trust but the assets go to a marital trust with the same restrictions on the spouse on transfer? 15409. (a) On petition by a trustee or beneficiary, the court may modify the administrative or dispositive provisions of the trust or terminate the trust it, owing to circumstances not known to the settlor and not anticipated by the settlor, the continuation of the trust under its terms would defeat or substantially impair the accomplishment of the purposes of the trust. In this case, if necessary to carry out the purposes of the trust, the court may order the trustee to do acts that are not authorized or are forbidden by the trust instrument. (b) The court shall consider a trust provision restraining transfer of the beneficiary's interest as a factor in making its decision whether to modify or terminate the trust, but the court is not precluded from exercising its discretion to modify or terminate the trust solely because of a restraint on transfer. 4. Valuable Information For The Successor Trustee. 4.1. Blanket (Heggstad) Assignment of Assets. 4.2. Pre—Mortem Transfer Of Assets To Trust. 4.3. Schedule A of Family Trust.
3. LAW OFFICES GIVNER & KAYE A PROFESSIONAL CORPORATION Post-Mortem Planning September 4, 2014 Page 3 of 3 4.4. Modiﬁed Financial Statement For The File. 4.5. Attached Format. 4.6. Maintenance Program. _ 5. Funding The Subtrusts. 6. The First Spouse Post-Mortem Checklist.
7. LAW OFFICES GIVNER & KAYE A PROFESSIONAL CORPORATION Valuable Information For Your Trustee April 28, 2014 Page 4 of 6 Insurance Description Location Notes Health care coverage Dental plan . Home — title insurance policy . Home — insurance policies, e. g., ﬁre and earthquake Umbrella insurance policy Personal life insurance Company policies name, policy number, type of policy, who is the insured, who is the beneﬁciary, travel insurance, Accidental Death Asset Information On-line brokerage accounts Log—in and password such as Charles Schwab Home — copy of grant deed Cars — certiﬁcates of ownership Safe deposit boxes Who has access?
25. LAW OFFICES GIVNER & KAYE A PROFESSIONAL CORPORATION February 12, 2014 Checklist After First Spouse's Death Page 7 of 12 _ q. Discuss income tax consequences of funding marital gift __ r. Discuss trust income during administration period _ s. Have client sign IRS Form SS-4 to obtain TIN for administrative trust _ 13. Discuss real property tax issues Does a “change in ownership" Occur which requires a Legal Entity BOE-100-B within 90 days (or a 10% penalty)? __ 14. Trustee: __ a. Compensation _ b. Time records _ c. Errors and Omissions Insurance. _ 15. File IRS Form 56 Notice Concerning Fiduciary Relationship _ 16. Preliminary liquidity analysis _ 17. Discuss fees, costs, retainer, and fee Agreement C. Step Three: Actions Following First Meeting _ 1. New case set-up‘ _ a. Set up new trust administration ﬁle _ b. Prepare and mail fee agreement _ c. Prepare joint representation agreement d. Apply for TIN if using administrative Trust _ 2. Calendar critical dates _ 3. Lodge pour-over Will with county clerk’ within 30 days of death3 and obtain certified copy _ 4. Prepare and send Medi-Cal notice _ 5. Prepare certiﬁcation of trust and afﬁdavit of death 1 To learn whether a probate case has been ﬁled or to obtain a case number, you may search the case index or call 213-974-5171 and provide the decedent's full name and date of death. Once a case number is obtained, it is possible to monitor a case via the court's website, |asuperiorcourt. org. L. A. Superior Court information 213-974-5230; 974-5171 index. 2 For Los Angeles County that is Stanley Mosk Courthouse, 111 North Hill Street, L. A., CA 90012. 3 Probate Code §8200(a) requires the custodian of the Will to lodge it within 30 days of learning of the decedent's death. §8200(b) provides that a custodian who fails to do so “is liable for all damages sustained by any person injured by the failure. " Government Code §70626(d) now (August, 2012) provides that courts will charge a $50 fee (made out to "Clerk, L. A. Superior Court") to lodge a Vlﬁll.

References: v. 
 §1650
 §17200
 §15403
 §15300
 §153
 §8200
 §8200
 §70626