Message from the Firm
By Michael Foster
This month's newsletter addresses three new developments in estate planning, one or more of which may impact each and every reader. First, we feature an article by Kyle Neal addressing new FDIC insurance limits on bank accounts held by Living Trusts. The FDIC has finally responded to concerns that the previous FDIC limits created a conflict between proper estate planning and financial protection. This article should be of interest to most of our clients and to all of the accountants and business managers that receive this newsletter.
We also feature an article by David Schwartz and Kalyani Chirra on the new California law requiring that many persons who act as trustees for clients or others register with the State of California. This new law will impact virtually all of the accountants and business managers who receive this newsletter.
We close with an important article, also by Kyle Neal, addressing the recent changes in California law regarding domestic partnerships. Often overlooked is the fact that California domestic partner law can apply not only to same-sex couples, but also to older men and women who have resisted marriage in order to preserve various financial interests such as Social Security benefits, pensions and the like.
Please feel free to contact the authors of each of these articles if you have any follow-up questions.
Reprinted with permission,
© 2004 Reish Luftman Reicher & Cohen. All rights reserved. The Reish Luftman Reicher & Cohen Trust and Estate Advisor Report is published as a general informational source. Articles are general in nature and are not intended to constitute legal advice in any particular matter. Transmission of this report does not create an attorney-client relationship. Reish Luftman Reicher & Cohen does not warrant and is not responsible for errors or omissions in the content of this report.
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