Wealth Care Lawyer - Klaus Gottlieb

Wealth Care Lawyer - Klaus Gottlieb Contact information, map and directions, contact form, opening hours, services, ratings, photos, videos and announcements from Wealth Care Lawyer - Klaus Gottlieb, Lawyer & Law Firm, Cayucos, CA.

Wealth care is a comprehensive approach to your estate planning needs that considers multiple dimensions and coordination with your existing financial and tax professionals.

QTIP Trusts - weird name, useful tool. These trusts allow the decedent to relieve their spouse of this burden by retaini...
12/06/2024

QTIP Trusts - weird name, useful tool.
These trusts allow the decedent to relieve their spouse of this burden by retaining control of the final distribution of assets. QTIPs are becoming increasingly popular as an estate planning tool for this and other reasons outlined in this article. While QTIPs can benefit the very rich by saving estate taxes, they are becoming more relevant to people of ordinary means, particularly when planning states for blended families or complex business interests. Read more in my article in the National Law Review, or listen to my podcast "The Willie and Trusty Show".
Article: https://natlawreview.com/article/qtips-not-only-dumb-spouses
Podcast: https://creators.spotify.com/pod/show/klaus-gottlieb/episodes/QTIPs---Versatile-Trusts-with-Many-Uses-e2pej5e/a-abipgh7

This "Willie and Trusty Show" episode highlights common errors in estate planning. Listen: https://podcasts.apple.com/us...
11/25/2024

This "Willie and Trusty Show" episode highlights common errors in estate planning. Listen: https://podcasts.apple.com/us/podcast/top-ten-estate-planning-mistakes-part-1/id1773201642?i=1000678026517 Jointly held property is criticized for its tax implications, creditor exposure, and Medicaid planning complications. Life insurance strategies are examined, focusing on estate tax inclusion, transfer-for-value issues, and the pitfalls of improperly structured ILITs and business insurance. Insufficient liquidity is identified as a significant problem during estate administration. Finally, the importance of selecting the right executor or trustee and keeping wills updated is emphasized due to the complexities of modern estate administration and changing circumstances.

Our latest podcast explores the recent rise in annuity sales, particularly fixed annuities, despite their historical unp...
11/18/2024

Our latest podcast explores the recent rise in annuity sales, particularly fixed annuities, despite their historical unpopularity. This episode analyzes potential reasons for this shift, such as concerns about Social Security's viability and market volatility, and discusses the complex variety of annuity products available. It also emphasizes the need for estate planning attorneys to understand the basics of annuities and their potential role in estate planning, while recognizing the limitations of their expertise and recommending clients seek advice from specialists for product-specific decisions. LISTEN: https://podcasts.apple.com/us/podcast/the-rise-of-annuities-a-riddle-wrapped-in/id1773201642?i=1000677139517

⭐️⭐️⭐️⭐️⭐️Reviews are the lifeblood of any attorney. I appreciate this recent Google review from a client. If you are in...
11/06/2024

⭐️⭐️⭐️⭐️⭐️Reviews are the lifeblood of any attorney. I appreciate this recent Google review from a client.
If you are in need of an estate planning attorney to help with a new trust as a result of a divorce (or any other reason), please contact me.

In this Willie & Trusty Show episode, you’ll learn how Family Limited Partnerships (FLPs) can still be a powerful tool i...
10/31/2024

In this Willie & Trusty Show episode, you’ll learn how Family Limited Partnerships (FLPs) can still be a powerful tool in estate planning, offering benefits like tax savings, asset protection, and business continuity. We’ll break down the recent legal challenges and explain how upcoming changes to tax laws could affect FLPs. You’ll also hear practical advice on how to structure FLPs correctly to avoid IRS scrutiny and make the most of them while the current rules are in place. LISTEN: https://bit.ly/3Cb0Aa8

With the US elections right around the corner, my article in the The National Law Review addresses several unknowns in t...
10/27/2024

With the US elections right around the corner, my article in the The National Law Review addresses several unknowns in the world of estate planning.
First, what will the new estate tax exemption be?
Second, what estate tax planning tools will continue to be both available and of value with new legislation?
Third, once we know the election outcome, how much time do we have to implement tax-saving strategies for our clients before new legislation is enacted? Read more at https://natlawreview.com/article/election-2024-will-family-limited-partnerships-rise-decline-or-wither

Did you know that the fiduciary is responsible for notifying the IRS that he or she has assumed this role, which include...
10/23/2024

Did you know that the fiduciary is responsible for notifying the IRS that he or she has assumed this role, which includes responsibility for filing the decedent’s tax return? IRS Form 56 should be filed by a fiduciary to notify the IRS of the creation or termination of a fiduciary relationship under section 6903. This notice insures that IRS correspondence goes to the fiduciary and no important deadlines are missed.

If you have questions about estate planning, trusts, being a trustee and more, please contact me.

In the world of financial and estate planning, dementia is a growing concern among trustees, particularly in traditional...
10/18/2024

In the world of financial and estate planning, dementia is a growing concern among trustees, particularly in traditional revocable trusts where a surviving spouse remains trustee until death. Our "Willie and Trusty Show" podcast episode addresses the fact that cognitive decline often leads to financial vulnerability. We propose age limits for trustees, with the option for periodic cognitive evaluations, to ensure safe management of trust assets. Beneficiaries can waive this requirement, offering flexibility while reducing the risk of financial abuse. Listen here: https://podcasters.spotify.com/pod/show/klaus-gottlieb/episodes/Dementia-and-the-Forever-Trustee---A-Case-for-Age-Limits-e2phcdk

Reviews are always appreciated. If you need help with all aspects of estate planning, please contact me for an appointme...
10/15/2024

Reviews are always appreciated. If you need help with all aspects of estate planning, please contact me for an appointment.

The lawyer/attorney-client privilege, with some limited exceptions, remains intact after the death of a client. The duty...
10/09/2024

The lawyer/attorney-client privilege, with some limited exceptions, remains intact after the death of a client. The duty of the lawyer to adhere to it can, however, be waived by the client’s successor in interest, typically the deceased client’s personal representative. If you have questions about confidentiality and estate planning, please contact me.
Read more in my article about lawyer-client privilege: https://wealthcarelawyer.com/articles/decedent-affairs/client-confidentiality-continues-after-death/

Address

Cayucos, CA
93430

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 3pm

Telephone

+18057032282

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