Karri Kennedy, the daughter of a former Dupont Inc. employee had sought her share of her father's retirment plan benefits. She claimed that he had said that he wanted it to go to her but had never changed his beneficiary designations despite getting a divorce from Karri's mother. Instead the court ruled that the mother was entitled to the retirement plan as the designated beneficiary. Even the United States Supreme Court thinks that beneficiary designations are important. They are so important and too many estate planning attorneys never advise their clients to pay attention to them. ABOUT CHRISTOPHER R. TWINING CHRISTOPHER R. TWINING
Christopher R. Twining, Attorney at Law, based in the Westwood Neighborhood of Los Angeles is an innovative estate planning, probate & trust administration, and elder law attorney, who offers in home services for busy and movement challenged clients. The Law Office of Christopher R. Twining serves the cities of Los Angeles, Santa Monica, Culver City, Beverly Hills, West Hollywood, Pasadena, Burbank and the neighborhoods of West Los Angeles, Westwood, Brentwood, Bel-Air, Pacific Palisades, Palms, Pico-Robertson and Encino. Dedicated to helping individuals and couples prepare comprehensive estate plans according to their wishes; he offers them these services at an affordable price, in the relaxed comfort of their homes. For more information about his services, please visit http://www.twininglaw.com or call (310) 492-5990.
LAW OFFICES OF CHRISTOPHER R. TWINING
1440 VETERAN AVENUE, SUITE 509
LOS ANGELES, CALIFORNIA 90024
(310) 492-5990 Fax (310) 775-9774
http://www.twininglaw.com
Repeal of Estate and GST Tax Provides Opportunities
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December 31, 2009 , and Congress never acted as all ( including myself)
expected to reinstate the Estate and Generation Skipping Transfer Taxes. The
closes...
2 months ago
2 comments:
What are the fiscal/legal implications for a couple when one of them has a portfolio with designated beneficiary is the daughter instead of the spouse - married filed jointly in california?
Well what the case is essentially saying is that the beneficiary designation will control who the property will go to. Property that has a beneficiary designation generally will not be subject to probate or count as part of a probate estate. However, any property passing via beneficiary designations will usually be considered part of the decedent's ( person who died) gross estate for Estate Tax purposes.
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