Christopher D. Carico was recently selected by his peers for inclusion in The Best Lawyers in America® 2011 in the field(s) of Trusts & Estates (Copyright 2010 by Woodward/White, Inc., of Aiken, S.C.).
Since its inception in 1983, Best Lawyers has become universally regarded as the definitive guide to legal excellence. Because Best Lawyers is based on an exhaustive peer-review survey in which more than 39,000 leading attorneys cast almost 3.1 million votes…
Read More
On March 24 the U.S. House of Representatives passed a new Bill which would require a minimum 10-year period for grantor retained annuity trusts (GRATs). The Bill was proposed, went through committee and was passed by the House in about 8 days. It mirrored President Obama’s “Greenbook” proposal. The new legislation regarding the GRATs is attached to an important Jobs Bill, so it seems likely to pass the Senate as well. As written,…
Read More
This checklist was last revised March 22, 2011. On December 17, 2010, President Obama signed into law new estate tax legislation as part of The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (“TRA 2010”). The bill retroactively reinstated the federal estate tax for 2010; increased the federal estate tax exemption to $5,000,000 per person; increased the federal gift tax exemption to $5,000,000 per person;…
Read More
Partners Christopher D. Carico and Philip A. Toomey have been recognized in 2010 Southern California Super Lawyers as among the top lawyers in employment law and estate planning, respectively.Mr. Toomey was previously recognized in Super Lawyers Magazine in 2006, 2007, 2008 and 2009 in employment law. Mr. Carico was previously recognized in 2009 in estate planning.
Only five percent of the lawyers in Southern California are named in Super Lawyers Magazine. The selections…
INTRODUCTION
Effective estate planning for retirement benefits requires understanding rules created by the income tax laws mandating minimum distributions from the client’s retirement accounts. These income tax laws are found primarily in Internal Revenue Code 401(a) and Treasury Regulation 1.401(a)(9)-0 through 1.401(a)(9)-9. Proper planning also requires an understanding of the non-probate transfer rules under California law found in Probate Code 5010 through 5032. Finally, it necessitates an appreciation for the variety of estate…
Read More
By Christopher D. Carico
Published: WebCPA, July 28, 2009
The family CPA is often the best choice as successor trustee of the family trust.
As a group, CPAs are highly educated, detail oriented, tax-sensitive and cost conscious. Since a trustee’s duties include preparing an annual accounting, filing yearly tax returns, monitoring trust investments and determining distribution amounts to be given to beneficiaries, CPAs ordinarily possess all the needed skills. While it may make the most…
Read More
California Trusts and Estates Quarterly, Volume 16, Issue 1, 2010
by Christopher D. Carico | Partner & James E. Spar, M.D.
I. Introduction
An LPS conservatorship allows involuntary mental health treatment for individuals who are presently gravely disabled as a result of mental illness or chronic alcoholism.1 It is designed for individuals that cannot or will not voluntarily accept treatment. Contrary to popular opinion, it is not the only option for involuntary mental health treatment…
Read More
This article was originally published in California Trusts and Estates Quarterly, Volume 13, Issue 4, 2008
By Christopher D. Carico |Partner
Larry K. Prutch, CFP, CIMA, Institutional Consulting Director,** and Cengiz Volkan, CFP, CIMA, Institutional Consulting Director***
I. Introduction
The Uniform Prudent InvestorAct (“UPIA”) imposes complex investment requirements on private trustees.1 Estate planning attorneys protect trustee-clients by participating in the creation of a detailed investment policy statement (“IPS”), which documents the investment…
Read More
