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Michael Edward Lonich
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Michael Lonich’s Legal Guides

8 total

  • 2011 Tax Changes: Gift Tax, Estate Tax, Portability

    General Overview of 2011 Tax Changes The Tax Relief, Unemployment Reauthorization, and Job Creation Act of 2010 (TRA) was signed into law on December 17, 2010. The TRA applies to the years 2011 and 2012. This Act was passed to address the expiration of two major tax bills. These ...

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  • New Federal Regulations Increase Hospital & Visitation Rights for Same-Sex Couples

    Earlier this month, new federal regulations pertaining to hospital visitation became effective. These regulations require hospitals receiving federal Medicare or Medicaid money to have written visitation policies in place. The new law also requires hospitals to inform patients (...

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  • Lifetime Gifts May Have Significant Tax Advantages

    An estate planning attorney can help you develop a plan that maximizes your assets and helps you take advantage of the estate and gift tax system. If you are considering leaving an asset to someone upon your death, you may be interested in learning about the tax benefits of a...

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  • The Proper Estate Plan May Help You Avoid the Expense and Hassle of Probate

    f you are trying to decide what estate planning instruments you need in order to meet your goals and to avoid the cost of probate, you might want to look into the revocable trust. A revocable trust is the primary testamentary transfer device used by professional estate planne...

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  • Selecting a Succesor Trustee for Your Revocable Trust

    A trustee is a person who is responsible for managing the trust assets. Many individuals choose to name themselves as the trustee of the trust so they can exercise control over the trust during their lifetime. In addition, it is wise to add a successor trustee who will manage...

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  • Top Six Questions for Your Estate Plan After a Divorce

    Joint Assets Does your former spouse have access to any jointly owned assets, such as bank accounts, investments or real estate? Retirement Plans Is your former spouse still the designated beneficiar

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  • Update: Gifts to Caregivers Prohibited

    Recall that gifts to caregivers are generally prohibited by law under California Probate Code section 21350. (See blog: Gifts to Caregivers Prohibited noting what activities constitute caregiving).However, section 21351, enumerates several exceptions to this general rule.One of ...

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  • Transfers from Parents & Grandparents to Children: Avoid an Increase in Property Tax

    Do you know how to protect yourintra-family propertytransfersfrom being reassessed for property tax purposes? Understanding the law about exclusions from reappraisal is the first step towards avoiding an increase in property tax. In California, real property is reassessed at the ...

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