Forbes Article "Six Estate Planning Questions For Women" Highlights Unique Issues Women Face In Estate Planning

Forbes Magazine has a useful article "Six Estate Planning Questions For Women" by Deborah Jacobs. It is worth a read even if you have an estate plan since it highlights some facts that are easy to overlook. The article addresses that fact that estate planning can be more important for women.

One reason is that of Americans 65 and older, 42% of women are widowed but only 14% of men are widowed. In addition, women typically have a longer life expectancy, a tendency to marry older men, and lower lifetime earnings, meaning that they are more likely than men to see their living standards compromised if proper estate planning isn’t completed. Further, since women typically live longer, they usually have the last word about which assets go to family, charity, or Uncle Sam.

As the article points out, when considering estate planning, here are six basic questions women should think about:

1. Whom can you trust? Medical advancements enable women to live longer which increases the likelihood of suffering from a diminished mental state - and the need for a durable Power of Attorney.

2. Who would raise your children? You want to prevent a custody battle and the possibility of nobody wanting to take over. See our prior post entitled "15 Important Tips For Picking A Guardian For Your Child Or Children."

3. Do you need life insurance? Life insurance is a good way to replace lost income or to pay for estate taxes, especially when your estate is made up of illiquid assets.

4. Do you have assets of your own? You may need to transfer property from one spouse to another or out of joint ownership.

5. Is there money in the bank? Make sure there is enough money to cover immediate expenses should one spouse pass away. Funds from the deceased spouse’s separate account won’t be available for use right away.

6. Should you shed assets to save taxes? Make sure you leave yourself enough before you start giving things away.

This article is just a beginning on the issues women need to address in estate planning but it is a good starting point. This is an important time to have your estate plan created or updated due to the uncertainty in estate planning law. See my prior post entitled "Planning For Dormant Estate Tax in 2010. What Happens in 2011. Why You Need To Seek Advice And Have Estate Plan Updated."

Consulting with an experienced estate planning attorney will help you answer these questions and address other questions that are important to you and your family.

Posted by Henry (Hank) J. Moravec, III, a partner at Moravec, Varga & Mooney. For a complimentary 30 minute consultation (telephonic or in person), you can e-mail Hank Moravec at hm@moravecslaw.com or call him at (626) 793-3210 or (818) 769-4221.

He focuses his practice on Estate Planning, Trust and Probate Administration, Beneficiary and Trustee Representation, Probate Litigation, Tax Law, and Nonprofit Law. He represents clients throughout Southern California and his offices are conveniently located for clients in the Los Angeles, Orange, Santa Barbara, Riverside and San Bernardino Counties.

The firm website is http://www.moravecslaw.com/. The firm has two offices and consultations and meetings can be held at either office. The San Gabriel Valley office is located at 2233 Huntington Drive, Suite 17, San Marino, California 91108. Telephone: (626) 793-3210.

The San Fernando Valley office is located at 4605 Lankershim Boulevard, Suite 718, North Hollywood, California 91602-1878. Telephone: (818) 769-4221.

Florida Heiress Leaves Bulk Of Estate To Caretakers And Dogs & Leaves Son A Fraction. Result? Probate Litigation & Undue Influence Allegations.

When Gail Posner of Miami, a daughter of the corporate takeover businessman Victor Posner, died in March 2010 at age 67 from cancer, a cute Chihuahua named Conchita and two other dogs inherited the right to live in her Miami Beach mansion and have a $3 million trust fund. Ms. Posner's caretakers and staff (7 bodyguards, housekeepers and other personal aides) were left a total of $26 million under her will, and some also were allowed to live, rent-free, in the mansion to care for the dogs.

Ms. Posner's only surviving adult son Brent Carr was left $1 million. He filed a lawsuit in probate court last week in Miami-Dade County seeking damages and a petition to revoke probate of will. A copy of the lawsuit has been posted by the Wall Street Journal.

The lawsuit names the trustee Mellon Private Trust and the caretakers and staff as defendants. Mr. Carr alleges among other things that there was undue influence by her caretakers. It makes for a sad story of what can happen after someone passes away. The Wall Street Journal's article on this lawsuit points out that Mr. Carr had his share of problems in the past.

For those that are interested in what a trust document looks like for a large estate, the Wall Street Journal also posted online a copy of Gail Posner's Revocable Trust. This trust was from 2008 almost two years before she died. The son's lawsuit contends that the changes to a trust from 1965 were the result of undue influence.

In order to prove undue influence, a person must show that there is a vulnerability to undue influence, the opportunity to influence, and the likelihood of the influencer to commit the act. Ms. Posner was only 67 and died of cancer. There are allegations of mental illness and prescription drug abuse in the son's lawsuit. The cost of defending this lawsuit could certainly cost the estate more than the $1 million left to Mr. Carr and obtaining a settlement when everyone knows the cost of litigation may be the goal of Mr. Carr and his attorneys.

It will be up to the courts to decide if Gail Posner knew what she was doing when she signed that will and no one who stood to gain from the will exerted "undue influence" on her. This will be a factual determination and good estate planning can help avoid subsequent charges of undue influence. Large and small estates alike need to be aware of this possibility and do their best to minimize probate litigation.

In a prior post, I wrote an article about six methods to reduce estate and probate litigation. For example, it would not be surprising if the attorneys had a video made of Gail Posner signing the new will or independent third-party witnesses on the issue of why the son was left $1 million and Ms. Posner's intent in amending her trust and will.

It will probably take a year or more for this case to be resolved. Further, since 98 percent of probate litigation cases settle, I would predict an out-of-court settlement in this matter unless Mr. Carr is deemed to be unreasonable or his settlement demands are considered to be much greater than his ability to recover at trial.

Posted by Henry (Hank) J. Morevec III. With respect to probate, Hank Moravec has over 20 years' experience as one of the best Los Angeles probate attorneys and Los Angeles probate litigation attorneys and is available should you need legal advice regarding your own or a family member's situation. For a consultation, You can e-mail Hank Moravec at hm@moravecslaw.com or call him at (626) 793-3210 to request a consultation.

The firm website is http://www.moravecslaw.com/. The firm is located at 2233 Huntington Drive, Suite 17, San Marino, California 91108. There is ample free parking adjacent to the firm's office.

The office is located in San Marino, California, a suburb of Los Angeles in the San Gabriel area located 20 minutes from downtown Los Angeles. The firm represents clients throughout California and its attorneys appears in probate court throughout Southern California (Pasadena probate attorney, Los Angeles probate attorney, Santa Monica probate attorney, Pomona probate attorney, Torrance probate attorney, Long Beach probate attorney, Van Nuys probate attorney, Santa Barbara probate attorney, Orange County probate attorney, Riverside probate attorney, San Bernardino probate attorney).

Planning For Dormant Estate Tax In 2010. What Happens In 2011? Why You Need To Seek Advice And Have Estate Plan Updated.

One reason I like to refer to articles in newspapers is that it helps explain to non-lawyers what is happening in estate and tax law. It also helps remind people when they need to engage in estate planning. The New York Times' article on June 12, 2010 is informative and is entitled "Confusion Over The Dormant Estate Tax Keeps Advisers Busy."

Why might you need to consult an experienced California estate planning attorney?

1. If Congress fails to act again this year, the estate tax laws next year will revert to their levels before 2001 which is $1 million.

This means that if you set up your estate prior to 2010 on the assumption that estates worth more than $1 million but less than $3.5 million or more would not be subject to estates taxes upon death will need to revisit their estate plan.

If the law stays the same and Congress does not act, the heirs of a single person who dies next year with more than $1 million would be subject to a 55 percent tax. (For couples, it is $2 million.) Heirs of that same person, with a $3.5 million estate, would have paid nothing in 2009 but could pay as much as $1.375 million in 2011, depending on the level of planning. The numbers speak for themselves.

2. How Can My Estate Be Worth Over $1 Million?

In California and the Northeast, the value of a home combined with retirement accounts means that a large percentage of the upper-middle class can have estates worth over $1 million (or $2 million for couples).

Estate planning can save a great deal of money and the cost of planning (flat fees in our office ranging from $3,500 to $5,000 for most estates) is minor compared to the savings in estate tax. See our prior article about "What Does Estate Planning Cost?"

3. Some wealthier clients are interested in creating grantor retained annuity trusts (GRATs) which is a short-term trust that allows people to pass money to heirs tax-free. There is a concern that the federal government could change the terms of these trusts. See our prior article about GRATs and other ways of transferring wealth.

4. For 2010, elimination of automatic step-up in basis requires determining the original purchase price and waiting for IRS to issue documents on how to apply artificial step-up in basis.

As discussed in other articles, in 2010 the automatic "step-up" in basis for capital gains tax purposes was also repealed. Here is a brief explanation of how this works. Prior to 2010, the assets of people who died under the old estate tax law were valued at the date of their death for tax purposes. For example, any capital gains on stocks purchased 20 years' earlier — which would have been subject to tax if sold — were erased. In 2010 that is no longer the case, and figuring out what is owed requires determining the original purchase price — however long ago that was.

Without an estate tax this year, the Internal Revenue Code grants an artificial step-up in basis, as it is called, of $1.3 million to be used at the executor’s discretion and $3 million on assets passed to a spouse. The problem is that the IRS has yet to issue documents or forms to record how this exemption has been applied.

For an estate where the deceased passed away in 2010, the tax would not be due until April 15, 2011. However, a problem could arise, for example, if the heirs need to sell stock for cash or to diversity holdings. The sale can be made but the heirs would incur a 15 percent capital gains tax on the appreciated amount.

The New York Times article gave one example showing how not having an automatic step-up in basis could affect property. For example, if an heir inherited a property worth less than $3.5 million (the 2009 exemption) but worth more than the $1.3 million (with a basis near zero) that the IRS step-up in basis would exempt -- there is a large difference between the taxes owed in 2009 and 2010. For a 2009 sale, there would have been no estate tax or capital gains tax owed. But if the property is sold in 2010, capital gains tax would be owed.

5. What do estate planning attorneys want to happen?

I cannot speak for others, but I (and most others I believe) want predictability and certainty in what the tax laws are going to be in 2010 and afterwards. Previously, it was predicted that the estate tax would be enacted retroactively but that has not occurred and may not. Given that the first billionaire has passed away in 2010 and has saved his estate an enormous amount of money, the IRS may not want to litigate against his estate which could easily outspend the IRS.

For the heirs middle-upper class who are moderately wealthy due to property and retirement plans, they will pay significantly more unless Congress acts to change the law. People who would not have had to worry about estate tax will need to plan if Congress changes the law or if Congress allows the tax to revert to 2001 rates.

6. What should I do if my estate is worth more than $1 million (or $2 million for couples)?

You can do a couple of things. First, have your estate plan updated before the end of 2010. There may be gifts and other estate planning vehicles available to you this year.

Second, watch what Congress does and plan to have your estate plan reviewed again in 2011. Depending on your net worth, the types of assets you own and your intended beneficiaries, it might turn out that you will not need the 2011 return visit — but we won't know until Congress acts or fails to act.

Posted by Henry J. Moravec, III. Henry (Hank) Moravec is a partner at Moravecs, A Professional Law Corporation. He has over 20 years' experience as one of the best Los Angeles estate planning attorneys and one of the best Los Angeles probate attorneys with an excellent tax law background and is available should you need legal advice regarding your own situation.

You can e-mail Hank Moravec at hm@moravecslaw.com or call him at (626) 793-3210 to request a consultation. The firm website is http://www.moravecslaw.com/. The firm is located at 2233 Huntington Drive, Suite 17, San Marino, California 91108.

First Billionaire Dies in 2010 While Estate Tax Is Dormant. Don't Forget About Elimination Of Automatic Step-Up In Basis For Capital Gains Tax.

When America's first billionaire John D. Rockefeller (pictured at right) died in 1937, his estate paid tax at a 70% rate. In contrast, the estate tax rate on Houston billionaire Dan L. Duncan's estate, unless Congress passes a retroactive Estate Tax, is 0%. Last week the New York Times weighed in concerning Duncan's death in an article entitled "Legacy for One Billionaire: Death, But No Taxes."

The issue that was not addressed, however, was whether or not there was any tax due to the fact that in 2010 the automatic "step-up" in basis for capital gains tax purposes was also repealed.

Mr. Duncan’s worth was estimated by Forbes magazine at $9 billion, making him as the 74th wealthiest in the world. If Mr. Duncan's life had ended three months earlier, his estate would have been subject to a federal tax of at least 45 percent. If he had lived past Jan. 1, 2011, the rate would be even higher — 55 percent.

Instead, because Congress allowed the tax to lapse for one year and gave all estates a free pass in 2010, Mr. Duncan’s four children and four grandchildren stand to collect billions that in any other year would have gone to the Treasury.

As is typical with New York Times articles, the most interesting analysis is in the "comments" to the article. Both sides of the Estate Tax argument are well represented, and make for good reading. Well, good reading if you like to read about estate and tax policy, at least.

However, do not forget that 2010 was a year in which there was an "estate tax capital gains tax" swap. At least 20 New York Times commentators were unaware that in 2010 the estate tax was repealed, but so was the automatic "step-up" in basis for capital gains tax purposes. In 2009, for example, the law provided that for estates which did not contain retirement plan assets (which are taxed as income to the heirs as such funds were never taxed at all to the decedent) there would be no tax at all for estates up to $7 million in value per couple.

Depending on the composition of the estate, and the state in which the decedent lived, in 2010 a $7 million estate could pay as much as $1 million or so in capital gains when assets are sold.

Capital gains vs. Estate tax is not quite an "apples to apples" comparison, as the taxes are imposed at different rates, and of course at different times (for example, if Duncan's company is not sold by his heirs, capital gains will not be due) but 2010 was definitely not a "totally tax free year" in the case of inherited assets.

Posted by Henry J. Moravec, III. Henry (Hank) Moravec is a partner at Moravecs, A Professional Law Corporation. The firm is located at 2233 Huntington Drive, Suite 17, San Marino, California 91108. He is a very experienced Los Angeles estate planning attorney and is available should you need legal advice regarding your own situation.

You can e-mail Hank Moravec at hm@moravecslaw.com or call him at (626) 793-3210 to request a consultation. The firm website is http://www.moravecslaw.com/

How Do You Prepare Your Business For Succession As Part Of Your Estate Plan?

On March 17, 2010, the New York Times had an article entitled "How To Prepare Your Business For Succession." Even though there is no estate tax at the moment in 2010, the article touches on many of the non-tax issues which should be addressed by any family business owner irrespective of its form (corporation, LLC or partnership).

Previously, I wrote on this subject last year on a post entitled "As A Business Owner, What do I Need To Consider When Planning My Estate?"

The article mainly addresses the business related points of how to avoid a succession disaster. It recommends the following ideas:

First, identify your successors. Make an honest assessment. Succession specialists advise business owners to put their possible successors through rigorous outside analysis if possible.

Second, prepare the new successor or boss. If a child or other relative expresses interest in taking over the family business, the owner should set up a formal system of hurdles to make sure the child gets the skills required of any other prospective manager.

Third, deal with crucial employees. One idea given by the article is that to ensure that a new leader does not lose top lieutenants, it can be wise to offer them a percentage of the business. Businesses can be severely harmed when a top employee leaves or a salesperson takes his clients elsewhere.

Fourth, cover your tax exposure by obtaining good estate and tax planning advice.

Although the article covers many of the common issues, it does not even touch upon many of the strictly estate related issues which arise such as how to be fair to children who are not party of the family business and whether or not to take affirmative steps to protect the "inherited" family business from the creditors of children and grandchildren (including for example divorce).

The real challenge here is there is not one right answer. Some children may naturally thrive in the family business and help it grow. Should they not get a larger share of the business than a sibling who had no interest in it? Then some businesses require the children to have a professional license (law, medicine, architecture, etc.) to become a shareholder in the business.

The article deals with if you want your business to continue -- it says these are the things you ought to do. Most family businesses are sold not because they cannot be continued not because they cannot be continued but because the children/heirs do not want to continue and want the cash. That is a different issue that should also be addressed in the planning stages. Each business and family is unique and it is important to have a plan that is tailored to yours.

Posted by Henry J. Moravec, III. Henry (Hank) Moravec is a partner at Moravecs, A Professional Law Corporation. The firm is located at 2233 Huntington Drive #17, San Marino, CA 91108. He is a very experienced Los Angeles estate planning attorney, Los Angeles trust attorney and Los Angeles tax attorney who has more than 20 years' experience in business succession issues in estate planning.

Should you have any questions regarding your own situation, you can e-mail Hank Moravec at hm@moravecslaw.com or call him at (626) 793-3210. The firm website is http://www.moravecslaw.com/

How Do You Talk To Your Family About Estate Planning?

The New York Times recently had an article entitled "Estate Planning as a Family Conversation" which reminds us how difficult it can be to bring up estate planning, wills and trusts and related financial topics with parents, children and relatives.

Why is it so difficult to have these financial conversations? Whether it is the parents explaining their estate planning to their adult children or those children asking their parents about whether they have enough money to see them through a long retirement - these are touchy conversations.

It may be likely that your parents or you grew up at a time when money was not discussed openly so there may be a discomfort at sharing details of your financial lives with each other. There may be pride and privacy barriers. Other family dynamics can also be at work. Estate planning can be viewed as simultaneously a private topic and a morbid issue. Many years ago, I recall one estate planning meeting with an actress regarding estate planning where I was asked by her manager not to mention the word "death" during any meeting.

The New York Times article mentioned two examples where enduring some uncomfortable moments in initiating estate planning discussions gave the families peace of mind and helped ensure future family harmony. In one example, a vocational consultant in Seattle asked her father, a lawyer specializing in American Indian rights, about his estate plan after learning he had brain cancer. She was surprised to find that her father did not even have a will.

Her father had been separated from his wife for 30 years but had never divorced. Without a will under his state's law, everything he left behind would go to his "wife." The father decided he would rather have his assets divided between their two adult children. Due to this conversation, the father met with a lawyer to discuss the necessary documents to carry out his intention.

In a second example, a mother had decided to leave one adult son a larger inheritance than the others because that son had more children. When the mother shared these details with the son, the son persuaded her that he would rather receive less money than cause any family disharmony or face the wrath of his siblings. As a result, the mother changed her plan so that all her children would receive equal shares.

In future articles, I will discuss different ideas and approaches for parents to share their estate plans with adult children. I will also discuss how adult children can talk to their older parents about their finances and help determine if an estate plan is in place and whether the children will need to support them and when.

How families handle sensitive issues depends both on the particular circumstances and the personalities involved. A bit of advance role playing can help and an experienced estate and trust lawyer can provide guidance. In my experience, and as noted by the New York Times article, it is sometimes better have a series of talks, rather than addressing everything at once. Instead of one giant family meeting, it may be decided to speak to each individual one-on-one.

Five Initial Strategies

Whether you are the adult child or the parent initiating the conversation, here are five strategies to guide you overall during this process. In some cases where there has been no planning, it may be necessary to have the initial conversation to get the other family member to consult with an estate planning attorney and get their affairs in order.

1. Have the right tone. Too much force and the person on the other side of the conversation will focus more on the money side of the discussion rather than the fact that you care about the family and them and want to have this discussion for the right reasons. However, if you are too timid, the other person could attempt to dodge the conversation.

2. Use yourself or your family as an icebreaker to bring up the subject. You can explain how you and your spouse are just going through estate planning, long-term insurance and then ask the relevant follow-up question such as "Is it time for you to update your estate plan?" Or you can state that you want to share your plans with your relative at a convenient time and place. You can also share the story of a friend whose affairs were not in order and what a disaster it was for the family or the friend whose family was torn apart when the estate plan and its reasoning was not known in advance by the adult children.

3. Use current events or recent headlines of a well-known person's death. Use a recent case such as Michael Jackson, Brooke Astor or a recent death of a celebrity as a reminder about how easy it is for us to put these important tasks off until it is too late.

4. If they are more comfortable writing or communicating in writing, think about how to write out your plans or help them write out their plans. While you are talking to your family member, you can pull out some paper and start jotting notes to help them go through this process.

5. Schedule a meeting with an experienced estate planning attorney to get the process moving. There is nothing like a deadline or meeting to get people focused on getting a task (especially potentially sensitive ones) done. Select an experienced estates and trust attorney who has a tax background rather than an insurance agent who is selling life insurance products for commission. One advantage of hiring a California estate planning attorney is that they can help guard against later claims that there was undue influence or lack of mental capacity.

Most sophisticated estate planning attorneys such as our firm quote a flat fee and there are no products being sold or conflicts of interest in advising you on the best estate plan for you and your family. Refer to my prior post on "What Does Estate Planning Cost?" for information about our firm's flat fees for estate plans.

Posted by Henry J. Moravec, III. Henry (Hank) Moravec is a partner at Moravecs, A Professional Law Corporation. He has over 20 years' experience as one of the best Los Angeles estate planning attorneys, Los Angeles probate attorney, Los Angeles trust administration attorney, Los Angeles beneficiary attorney, and Los Angeles trustee attorney with an excellent tax law background and is available should you need legal advice regarding your own situation.

You can e-mail Hank Moravec at hm@moravecslaw.com or call him at (626) 793-3210 to request a consultation. The firm website is http://www.moravecslaw.com/. The firm is located at 2233 Huntington Drive, Suite 17, San Marino, California 91108.

Estate Planning & Annuities: Should Parents Take Smaller Monthly Payments So Survivors Can Receive Some Sort Of Inheritance?

On February 20, 2010, the Wall Street Journal's online edition has an article entitled "A Tough Choice: Your Or Your Kids." The article discusses the dilemma some families face when buying an annuity: Should a parent take smaller monthly payments so that their surviving spouse or children can get some sort of inheritance?

Each person or family's situation is different but the article has several interesting points that can be considered.

1. Have your financial planner work with your estate planning attorney when deciding on how to structure annuities, whether to have a fixed or variable annuity, whether to pair the annuity with an insurance policy and/or whether to purchase riders to guarantee payments for your heirs.

Often times without the input of an estate planning attorney, most people opt for the smaller payment without considering other and possibly better strategies to help the heirs come out ahead, including pairing an annuity with an insurance policy.

2. Pairing an annuity with an insurance policy. The WSJ article gave the example of a certified financial planner who advised an 80-year-old client to use the $266,000 value of a variable life-insurance policy to buy an immediate annuity, providing her with $2,500 a month for the rest of her life. The mother is using $1,500 a month from that $2,500 payment to buy a guaranteed life-insurance policy worth $300,000. Now her son stands to inherit more than the annuity's cost.

The WSJ article gave another example of pairing an annuity with an insurance policy to hedge against inflation. Let's say you and your spouse have $1 million saved at age 65 from which you hope to pull 4% a year. You could spend $185,000 to buy a second-to-die permanent life-insurance policy with a $1 million guarantee that would eventually go to your children. And with about $800,000, you could get an immediate inflation-indexed annuity that would pay $40,750 the first year and continue paying through both spouses' lifetimes.

3. There are two main types of annuities, each usually starting with a lump-sum payment. With variable annuities, you invest in stocks or bonds with an insurance guarantee. There usually are surrender payments if you withdraw the money in the first few years. With immediate fixed annuities, your lump sum buys regular payments from an insurer for the rest of your life. They are being hailed by everybody from financial planners to President Barack Obama as a way for Americans to stretch their retirement nest eggs.

4. Riders to guarantee payments for your heirs or to adjust monthly payments for inflation. Annuities come with complex features and fees that are often not found in investments like mutual funds. It takes careful analysis to figure out if an annuity makes sense for you and, if so, which features to purchase.

When one spouse has health problems and the other could live a long time, variable annuities with guaranteed-minimum payments can pay off, despite annual fees that can top 3.5% of the invested amount. The WSJ gave an example of a 69-year-old retired teacher whose husband died last year from post-polio syndrome. The couple was drawing 6% a year from a variable annuity in which they had invested $300,000. The investment had lost half its value during the financial crisis, but the retired teacher inherited the original amount invested because of a guarantee they had purchased. The money should still be there for her two daughters as well.

5. Immediate fixed annuities are simpler to understand and cheaper: You get a regular payment for life. But when you die, the downside is that your family loses that payment unless you pay extra for a rider returning at least some of the money you invested. The rub is that such a rider will typically lower the monthly payment you receive by anywhere from 2% to 15% or even more.

6. The WSJ article suggested an approach for buying an annuity that involves determining one's basic expenses—utilities, food, taxes, insurance and so on. Purchase a plain-vanilla annuity to cover those costs. Then you can invest the rest of your savings to spend on vacations, cars or grandchildren. Anything left over can be your family's inheritance. As the article pointed out, however, if you are early in retirement, who knows how much the basics will cost in 20 or 30 years? And what if your savings barely cover an annuity that will pay for those basics?

7. As annuities gain in popularity, make sure you consult with an experienced estate and trust lawyer as well as with your financial planner before you purchase the annuity so it is consistent with your estate plan and wishes for providing for your heirs.

Posted by Henry J. Moravec, III. Henry (Hank) Moravec is a partner at Moravecs, A Professional Law Corporation in San Marino, California, a suburb of Los Angeles. He is a very experienced estate planning attorney. Should you have any questions regarding your own situation, you can e-mail Hank Moravec at hm@moravecslaw.com or call him at (626) 793-3210. The firm website is http://www.moravecslaw.com/