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4worldlovers: How to Minimize Taxes and Create Lasting Financial Security Long-term financial planning requires a balance between present needs and future goals. As trusted advisors, it is essential to understand the tax-advantaged tools that enable our clients to make informed decisions. Plaintiffs receiving a settlement, individuals involved in the sale of real estate or a business, and attorneys receiving contingency fees can all benefit from structuring their funds.

Americans are living and working longer than they ever have. According to the California Bar Association in 2020 there were 253,968 attorneys in the state. Of those attorneys, 189,971 are active with an average age of 50. They also note that 16% are over the age of 65. The likelihood of developing dementia doubles every five years after age 65. By 85, the risk is nearly 50%. These statistics suggest that it is more likely than not that you or one of your colleagues will develop cognitive impairment that will adversely affect the ability to function in multiple areas of life, including work.

In this case study, excellent work by an estate planner and others stopped an elder abuser. The names below are changed.

You might think estate planning is only for the most-wealthy of the top 1%. Maybe, you’ve heard there is an exemption currently allowing each of us to shelter almost $13 million from combined federal estate and gift taxes. So, it’s understandable why someone would be a bit surprised (maybe even confused or shocked) to hear that Legal Aid of Marin (yes, Legal Aid!) is partnering with Vivalon and The Spahr Center to create a series of free estate planning clinics for older adults.