GQ on the Law: Recent Episodes
GQ Law
Gary Quackenbush is a financial solutions attorney based in San Diego, California. For 30 years Gary has specialized in tax and estate planning, Wills and Trusts.
On the Friday editions of the Word On Wealth radio show with Gary Quackenbush we talk about how to find "A Wealth of Joy" in our lives. Lisa Newman, Life Coach and Rick Daynes, Author of Keep It Together Man, join me for a wonderful discussion on finding joy and happiness in our personal and family lives. Taking care of our mental health is very important and Lisa gives some practrical tips on how to find peace in our crazy world. Rick help us figure out how to "keep it together" as we work, love, and live together with our spouses, families, and friends.
Enjoy this show and live a happier life.
GQ
Attorneys Gary Quackenbush and Rich Mathurin explain - What is a Tax Problem? Can the IRS take my money? YES * Liens * Levies - Bank, retirement, * Refund attachment * Wage garnishment * Home foreclosure
Resolution Options: 1 - Do Nothing - S/L 10 or 20 years 2 - Find the money and pay it 3 - Installment agreement 4 - Offer in compromise 5 - Tax Bankruptcy - Chapters 7, 11, and 13
PART 1 - How do I put these things in my Living Trust? GQ explains. House, Car, Timeshare, Personal Property, Business, Partnership, Corporate Stock, LLC, Sole Prop Trademark - Copyright - Patent Promissory Note PART 2 - Gary Quackenbush and Lorena Leroy explain what to do after someone dies and you need to distribute property from a Living Trust. PART 3 - Q&A -
1 - I do not have any children. If I die without a Will, who gets my things? Who are my heirs?
2 - My husband has 3 children from a prior marriage that he never talks to and together we have a daughter. He has no Will or anything. He has a house and a retirement account. When he dies, I get the house right?
3 - My son has a step-son whom he has been raising as his own. If my son dies before he inherits money from me, will his inheritance go to his step-son? (ie. does a step-child automatically inherit from his step-parent? )
Q1: My parents died a year ago and I am the trustee of their trust. I have been able to make most of the distributions but my dad had a stock account in his name. The stock account is worth $440,000 and the investment company won't let me touch it. They say I need to get a court order to get the money. What court order are they talking about? My parents have a trust, why do I need a court order? Q2: I just bought life insurance and the company wants me to name a beneficiary. Is it best to name my wife or the Trust as beneficiary? Q3: My contracting business is incorporated and I want my sons to have it in case anything happens to me. Can I put my corporation in my Will and give it to them? What do you suggest?
What is a Special Needs Trust? What are they for? There are 2 basic types - "Third Party" and "First Party" - what does that mean? Who can have one? Who can be the beneficiary? Who can be the Trustee? - Individual or Private Fiduciary or Organization.
GQ ANSWERS THESE QUESTIONS: Q1: My parents died several years ago and my brother is the trustee of their trust. I don't think he is following the trust but he will not talk to me. How can I motivate them to do his job? How can I find out what is going on with the trust and mom and dads property? Q2: I am 33 years old and happily married with 2 small kids. We do not own a house. I have life insurance and a 401k at work with $80,000 in it. Do I need an estate plan? Q3: I have a small maintenance business that bring in about $150,000 per year. I want my kids to have it if something happens to me. What can I do to make sure my kids can either have the business or sell it before my competitors grab up all my clients.? Q4: My mom does not have a health directive? If my brother and I disagree as to life support, who will make the decision if mom cannot? NOTE: *** SUBMIT YOUR QUESTIONS BY GOING TO GQLAW.COM "CONTACT US" FORM - WE'LL AIR THE QUESTIONS ON THE NEXT SHOW.
Learn how to be a Succesor Trustee from Attorney Gary Quackenbush of GQ Law.
If you have been named as the Successor Trustee of someones Trust, you are probably wondering what you are in for. Gary explains in 15 minutes the basic requirements and duties of a Successor Trustee. He gives you a list of the things you need to do and some ideas on how to get the job done right.
For more information go to GQLAW.com.
GQ Law - Gary Quackenbush and Marty Schneider, the Retirement Professor, discuss how to put your house, your business, your car, your money, and your retirement money into your revocable living trust. It's not hard, but must be done properly. Most important it that it must actually be done. Many many people fail to put their assets, house, money, etc., in their trust. The failure to fund (put things into) the Trust causes the trust to be invalidated!
This episode will help you understand how to fund your trust.
GQ
GQ Law & Gary Quackenbush - Estate Planning Difficult Decisions Day
Who should be my Trustee?
Who should be the Guardian?
Gifts to charity.
How to "control" distribution- based on age, maturity, or other criteria
Is it a good idea to try control distribution? - Or just let them have it all at once?
Options for Successor Trustee and Guardian
Family or Friend
Professional - Private fiduciary or Institution?
Distribution Options:
Sprinkling
Staged @ ages, @ life stages, @ accomplishments, @ land-marks
Pooled Trust
Successor Trustee's discretion
Words, words, words - how to get it all written properly.
How kids lose their inherited money. Mostly on crazy investments and wild ideas.
GQ on the law explains Special Needs Trusts, Powers of Attorney, and Guardianship. Special needs trusts are required if a beneficiary receives any type of government assistance due to disability, incapacity, or special needs. Without a Special Needs Trust, the special needs beneficiary could forfeit any government assistance for medical care or other support. In this show Gary Quackenbush explains ways to create and use a Special needs Trust. GQ Law.
If you can't speak for yourself, you will need a Health Care Directive to appoint someone to speak on your behalf regarding healthcare, life support, and organ donation decisions.
GQ LAW and Marty Schneider have a lively discussion on their live radio show covering this importatn estate planning topic.
Minor children need to have a Guardian nominated to prevent them from being placed in the foster child system if they lose both parents. A Guardian nomination is a simple but very important document to have in your Family Protection binder.
Gary Quackenbush
GQ Law
Having your IRA or 401k handled by your Living Trust requires special trust language.
The average Living Trust or Family Trust can not handle retirement money properly and could cause accelerated income taxation if not prepared properly. If prepared properly, your Trust can safely distribute inherited retirement accounts to your beneficiaries on your terms and yet avoid accelerated taxation. This radio show "Word on Wealth" with Marty Schneider, CFP, and Gary Quackenbush, Attorney, frankly discusses IRA and 401k inheritance issues.
For more information go to GQLAW.com.
In this episode GQ explains what bankruptcy means for you and how it can help you find joy in your journey. This week in adventure radio GQ talks about 5 hikes in San Diego everyone can do. Listen to "GQ on the Law" - Thursdays at 6pm - KFSD 1450 AM. (Show originally aired on November 1, 2012)
In this episode GQ explains the implications proposition 30 and proposition 39 in California. GQ also talks about what's new with short sales and what to be aware of. Todays adventure idea is all about getting pumped to help a neighbor and different ways to serve your community. Listen to "GQ on the Law" - Thursdays at 6pm - KFSD 1450 AM. (Show originally aired on October 11, 2012)
In this episode GQ explains how estate planning includes guardianship designation and to handle money for the future care of your children. In the adventure segment of the show GQ talks about how to build professional quality sandcastles. Listen to "GQ on the Law" - Thursdays at 6pm - KFSD 1450 AM. (Show originally aired on Sept. 13, 2012)
GQ explains how chapter 13 bankruptcy works in several different situations and shares a 'financial to do list' from the Wall Street Journal. Today's adventure idea talks about a day at Mission Bay, San Diego with a bunch of friends. Listen to attorney Gary Quackenbush every Thursday at 6:00 pm on KFSD 1450 AM. (Show originally aired on September 06, 2012)
GQ explains how to resolve your tax problems, gives his insights on relevant news, and provides cheap adventure ideas. Today's adventure idea talks about Idyllwild, CA, an awesome mountain town. (Show aired on August 2, 2012)
GQ explains Offer In Compromise - How and when it works and recent HUGE changes in the law that could make a BIG difference for taxpayers. GQ also gives timely insights on relevant news and provides cheap adventure ideas like free water fun. Get wet and enjoy this piece of California summer. (Show originally aired on July 12, 2012)
GQ answers the question 'what is debt?' and why it is important for you to know. Gary also gives timely insights on relevant news and provides cheap adventure ideas like a trip to the famous Hotel Del Coronado and surrounding areas for FREE! (Show originally aired on July 5, 2012)
GQ explains Chapter 9 Bankruptcy and how a city can file for protection. GQ gives timely insights on relevant news and provides cheap adventure ideas like a wonderful hike up Iron Mountain.