Giving Your Kids an Early Inheritance—4 Things to Consider

If you’re thinking about giving your children their inheritance early, you’re not alone. A recent Merrill Lynch study suggests that these days, nearly two-thirds of people over the age of 50 would rather pass their assets to the children early than make them wait until the will is read. It can be especially satisfying to fund our children’s dreams while we’re alive to enjoy them, and there’s no real financial penalty for doing so, if the arrangement is structured correctly. Here are four important factors to take consider when planning to give an early inheritance.

1. Keep the tax codes in mind:

The IRS doesn’t care whether you give away your money now or later. The lifetime estate tax exemption as of 2016 is $5.45 million per individual, regardless of when the funds are transferred. So, whether you give up to $5.45 million away now or wait until you die with that amount, your estate will not owe any federal estate tax (although, remember, the law is always subject to change). You can even give up to $14,000 per person (child, grandchild, or anyone else) per year without any gift tax issues at all. You might hear these $14,000 gifts referred to as “annual exclusion” gifts. There are also ways to make tax-free gifts for educational expenses or medical care, but special rules apply to these gifts. Your estate planner can help you successfully navigate the maze of tax issues to ensure you and your children receive the greatest benefit from your giving.

2. Gifts that keep on giving:

One way to make your children’s inheritance go even farther is to give it as an appreciable asset. For example, helping one of your children buy a home could increase the value of your gift considerably as the home appreciates in value. Likewise, if you have stock in a company that is likely to prosper, gifting some of the stock to your children could result in greater wealth for them in the future.

3. One size does not fit all:

Don’t feel pressured to follow the exact same path for all your children in the name of equal treatment. One of your children might prefer to wait to receive her inheritance, for example, while another might need the money now to start a business. Give yourself the latitude to do what is best for each child individually; just be willing to communicate your reasoning to the family to reduce the possibility of misunderstanding or resentment.

4. Don’t touch your own retirement:

If the immediate need is great for one or more of your children, resist the urge to tap into your retirement accounts to help them out. Make sure your own future is secure before investing in theirs. It may sound selfish in the short term, but it’s better than possibly having to lean on your kids for financial help later when your retirement is depleted.

Giving your kids an early inheritance is not only feasible, but it also can be highly fulfilling and rewarding for all involved. That said, it’s best to involve a trusted financial advisor and an experienced estate planning attorney to help you navigate tax issues and come up with the best strategy for transferring your assets. If you want to ensure that your family is cared for, please click here to schedule your complimentary Estate Planning Strategy Call with San Francisco’s premier estate planning attorney, Matthew J. Tuller.

5 Things Every New Mother Needs to Know About Wills

As a new mother, you naturally want to ensure your new baby’s future in every way. For many new mothers, infancy is a time for celebrating new life, and making a Will is the last thing on their minds. For others, the process of bringing new life into the world sparks intense feelings of wanting control and needing organization. Regardless of where you fall on that spectrum, you might be struggling to figure out what steps you need to take to protect your children’s future should the unthinkable happen. Here are five key things every new mother should know about Wills.

1. Naming a guardian could be the most important part of your Will:

If you pass away while your child is a minor, the first issue to be addressed is who will assume responsibility for your child’s care. If you don’t name a guardian for your child in the Will, the courts may decide this question for you, and the guardian might not be the person you would choose. Selecting a trusted guardian is in many ways more important at this stage than deciding about how to pass any assets you own.

2. Name an executor you trust:

To ensure your child does receive all that you have allocated when she comes of age, choose a trustworthy executor. Many people choose a family member, but it’s just as acceptable to appoint a trusted attorney to handle your estate. Typically, an attorney has no emotional attachment to the family, which might seem bad, but usually results in less potential conflict.

3. Named beneficiaries on your financial accounts may override the Will:

Many accounts allow you to name a beneficiary. When you pass away, the funds go to the beneficiary named on the account, even if your Will states otherwise. If you’re creating a Will with your child in mind (or adding the child to an existing Will), you should review your investment and bank accounts with your financial advisor to make sure there are no inconsistencies when naming beneficiaries. It’s also a good time to check retirement account and life insurance beneficiary designations with your financial advisor and your attorney.

4. A Will is not always the right document for your goals:

When naming your child as a beneficiary, a Will only goes into effect after you die. If your Will leaves property outright to a minor child, the court Will step in and hold the assets until your child turns 18. Most 18 year olds lack the maturity to handle even a modest estate, so we don’t recommend outright inheritance for minor children.

A trust, on the other hand, goes into effect when you create it and can provide structure to manage the assets you leave behind for the benefit of your child. An experienced estate planning attorney can advise you on the best option for your family and your circumstances.

5. In the absence of clearly stated intentions, the state steps in:

Think of a Will, trust and other estate planning documents as an instruction manual for your executor and the courts to follow. You must be clear and consistent in your stated intentions regarding your child, as well as for others. If you’re not clear or if you don’t leave any instructions at all, the probate courts will step in and follow the government’s plan, which can lead to long delays and is probably not the plan you would have selected for your child and family.

Providing for your baby’s long-term welfare may start with just a simple Will, but to be fully protected, you probably need more. That’s why it’s important to talk with a competent estate planning attorney to make sure you have the right plans in place to fulfill your goals. We’re here to help! If you want to ensure that your family is cared for, please click here to schedule your complimentary Estate Planning Strategy Call with San Francisco’s premier estate planning attorney, Matthew J. Tuller.

What To Do After a Loved One Dies

If you've been appointed an executor or a successor trustee of a loved one’s estate, and that person dies, your grief—not to mention your to-do list—can be quite overwhelming. For example, you may need to plan the funeral, coordinate with out of town relatives coming to visit, and finding an estate planning attorney to help you to administer the estate. Regardless of the additional tasks on hand, it is most crucial that you take care of yourself during such an emotionally taxing time.

To give you an idea of some of the first steps that should be taken after a loved one passes, here is a quick checklist of initial tasks that should be completed. I know it can be difficult, but some of these items are deadline specific, so make sure that you reach out sooner than later:

1. Secure the deceased's personal property (vehicle, home, business, etc.).

2.  Notify the post office.

3.  If the deceased wrote an ethical will, share that with the appropriate parties in a venue set aside for the occasion. You may even want to print it and make copies for some individuals.

4.  Get copies of the death certificate. You'll need them for some upcoming tasks.

5.   Notify the Social Security office.

6.   Take care of any Medicare details that need attention.

7.    Contact the deceased's employer to find out about benefits dispensation.

8.    Stop health insurance and notify relevant insurance companies. Terminate any policies no longer necessary. You may need to wait to actually cancel the policies until after you’ve “formally” taken over the estate, but you can often get the necessary paperwork started before that time.

9.     Get ready to meet with a qualified probate and trust administration attorney. Depending on the circumstances, a probate may be necessary. Even if a probate is not needed, there is work that needs to be The deceased’s will and trust. If the original of the deceased’s will or trust can’t be located, contact us as soon as possible and bring any copies you do have.

• A list of the deceased’s bills and debts. It’s often easier to bring the statements or the actual credit cards into the office rather than try to write out a list, but do whatever is easiest for you.

• A list of the deceased’s financial advisors, insurance agent, tax professional, and other professional advisors.

• A list of the deceased’s surviving family members, including their contact information when available. Even if they’re not named in the trust, the attorney will need to know about everyone in the family.

10. Cancel your loved one's driver's license, passport, voter's registration, and club memberships.

11. Close out email and social media accounts, and shut down websites no longer needed. Depending on circumstances, to take these steps, you may need to wait until you’ve “formally” taken over the estate, but you can often learn the procedures and be ready to take action.

12. Contact your tax preparer.

You may be thinking about handling all the paperwork yourself. It’s a tempting thought—why not keep things as simple as possible? However, a “DIY” approach to this process might cost you and your family dearly. Read on to understand why.

Consequences of Mishandling an Estate: Examples from Real Life

Example #1: Failing to disclose assets to the IRS. Lacy Doyle, a prominent art consultant in New York City, inherited a large estate when her father passed away in 2003. He allegedly left her $4 million, but she only disclosed fewer than $1 million in assets when she filed the court documents for the estate. Per the New York Daily News: “She opened an ‘undeclared Swiss bank account for the purpose of depositing the secret inheritance from her father’ in 2006 — using a fake foreign foundation name to conceal her identity… [she also] didn't report her interest in the hidden accounts — nor the income they generated — from 2004 to 2009.” As a result of these alleged shenanigans and Doyle’s failure to report the accounts to the IRS, she was arrested, and she now faces a six-year prison sentence.

Example #2: Misusing power of attorney. Another famous case of an improperly handled estate involved the son of famous New York socialite, Brooke Astor. Her son, Anthony Marshall, was convicted of misusing his power of attorney and other crimes. Per a fascinating Washington Post obituary: “In 2009, Mr. Marshall was convicted of grand larceny and other charges related to the attempted looting of his mother’s assets while she suffered from Alzheimer’s disease. He received a sentence of one to three years in prison but, afflicted by congestive heart failure and Parkinson’s disease, was medically paroled in August 2013 after serving eight weeks.”

Some Key Takeaways

1. Seek professional counsel to avoid even the appearance of impropriety when handling an estate.

2. Bear in mind that errors of omission and accident can be costly – even if your intent was good. An executor who makes distributions from an estate too soon can get into serious trouble, for instance. An executor’s personal assets can wind up in jeopardy if his or her actions cause an estate to become insolvent.

3. Even if you’re well organized and knowledgeable about probate and estate law, it’s surprisingly hard to anticipate what can go wrong. There are many ways to end up in hot water when you’re handling the estate or trust of a loved one.

We’re here to help you steer clear of the obstacles and free you to focus on yourself and your family during this difficult time. Contact us for assistance. We can help you manage estate and trust related concerns as well as point you towards other useful resources.

If you want to ensure that your family is cared for, please click here to schedule your complimentary Estate Planning Strategy Call with San Francisco’s premier estate planning attorney, Matthew J. Tuller.V

Stress Test Your Estate Plan

So you’ve done the hard work of establishing an estate plan. Good for you. However, you still have serious work to do to ensure that the strategy you’ve selected will maximize your peace of mind and protect your legacy.

Estate plans are living, breathing creations. Your life can and will change due to new births, children getting older and other shifts in the family; changes to your portfolio, career and business; and changes to your health, where you live and your core values. Likewise, external events, such as tax legislation passed in your state or the development of a novel financial instrument, can throw your plan off track or open the door to opportunities.

Obviously, you want to do due diligence without spending inordinate amounts of time noodling over your plan. To that end, ask yourself the following “stress test” questions to assess whether you need to meet with an estate planning attorney to update your approach:

1. When was the last time you updated your will or living trust? Since then, have you had new children or gotten divorced? Have you moved to a new state, opened or sold a business, or just changed your mind about the type of legacy you want to leave behind? Strongly consider updating your documents as soon as possible - especially if big, tangible life events have occurred.

2. Who have you named as executor and trustee? If you had to start your planning over from scratch today, would you still make the same decisions? If not, why not?

3. Do you have adequate insurance? Many people do not have enough insurance for themselves or their businesses. They also fail to name contingent beneficiaries. Get your insurance policies in order.

4. How much of your property is jointly owned with someone other than your spouse? Jointly owned property has the potential to be double taxed. Take a look at your real property and seek advice on the proper adjustments to make in order to save on taxes when it's really necessary to save on taxes.

5. How's your record keeping? Nothing is more frustrating for an executor than sloppy record keeping.

6. When was the last time you gave your plan a thorough once-over? Even if nothing “huge” has happened in your life recently, if it has been over five years since a qualified estate planning attorney has assessed your strategy – it’s time to schedule a meeting. Identify any issues and iron out the kinks one at a time.

If you want to ensure that your family is cared for, please click here to schedule your complimentary Estate Planning Strategy Call with San Francisco’s premier estate planning attorney, Matthew J. Tuller.

4 Famous Estate Planning Debacles—The Importance Of Proper Planning

These four celebrity estate planning fiascos offer lessons about how to handle your own planning and legacies.

1. Pablo Picasso – The great artist died in 1973 at 91 without a will, a status referred to as “intestate.” Of course, Picasso isn't the first, or the last, celebrity to die intestate. However, after he died, his six heirs fought for six years over the wealth of assets he left behind. One lesson for us all: Make sure you have your estate planning documents in place before you go. 

2. Heath Ledger – It was a huge surprise, and disappointment, to millions of adoring fans when Heath Ledger died in 2008 at the age of 28. He did leave a will. Unfortunately, he didn't update the will after the birth of his daughter. Fortunately for his daughter, the family decided to include her in the inheritance, which proves that sometimes people do the right thing. But what if his family had insisted instead on the terms of Heath’s will?  One lesson for us: When there’s a big change in your family situation (or when you have a life changing epiphany about your core values and legacy), update your plans accordingly. Do not assume that just because you’re young and healthy that you will have lots of time to get things in order. Do not assume that, since you have a plan in place, it will automatically update to match your current desires and needs.

3. Philip Seymour Hoffman – Actor Philip Seymour Hoffman didn't want his children to grow up as “trust-fund babies.” Fair enough, but he decided to leave his inheritance with his girlfriend, counting on her to care for his children on his behalf. The problem: there was no guarantee that would happen. Since the two weren't married, Hoffman's estate was hit with a huge tax. One lesson for us: A trust that includes your guidance about the proper use of the funds is better than hoping for the best with one that leaves your wishes undefined.

4. Tom Clancy – Author Tom Clancy left behind a huge fortune, but his estate planning documents weren't clear about some of the important details. These issues led to drama for family members. One lesson for us: the more complicated your family, your assets, and your business dealings are, the more accurate, precise, and proactive you need to be in working with us on your estate plan.

Whether you’re just starting to explore the need for estate planning or you’re a seasoned veteran with a well-worn trust binder, we should all remember a few key points:

1. Have estate planning documents in place, even if you’re young and healthy and think you’ll have plenty of time to get things in order later.

2. When there’s a change in your family situation (marriage, birth, or death) or if you’ve changed your mind about something, update your plans accordingly. Do not assume that since you have a plan in place, it will automatically update to match your current desires and needs.

3. Provide guidance to your family about how you would like them to use their inheritance. Do not rely on hope or verbal instructions. The best place for guidance is in your trust or in an intent letter that can help your trustee manage your trust.

4. If you’re well-off or have complex assets, you need to work with your estate planning attorney in a more proactive way to avoid potential missteps while still achieving your goals.

If you want to ensure that your family is cared for, please click here to schedule your complimentary Estate Planning Strategy Call with San Francisco’s premier estate planning attorney, Matthew J. Tuller.

3 Tips for Your Digital Assets—Protecting Your Cyber Legacy

There’s an entire category of commonly-overlooked legacy to consider – digital assets. Don’t worry if you didn’t consider these assets when you made your will or trust. It’s surprisingly common and, luckily it’s easy to correct.

What are digital assets? They include the following:

1.  Your photos (yes, all those selfies are a digital asset)

2. Files stored in the cloud or on your local computer

3. Virtual currency accounts

4. URLs

5. Social media profiles (Facebook, LinkedIn, etc.)

6. Device backups

7. Databases

8. Digital business documents

Because technology is ever-evolving, much more will be added as the months and years go by.

These assets can have real value, such as virtual currency accounts, a URL, or digital business assets. So, you can no longer adopt a wait-and-see approach for these assets. Whether you proactively plan or not, your legacy now includes more than the inheritance you want to pass along, your family heirlooms, and general assets. You must now consider your digital assets.

 So, here are 3 tips to get you started.  

1. Inventory your digital assets. Make a list of every online account you use. If you run a business, don't forget spreadsheets, digital records, client files, databases, and other digital business documents, although those should probably be part of your business succession plan. If it exists in cyberspace, connects to it or pertains to it, put it on the list for your attorney and executor.

2. Designate a cyber successor. A cyber successor is someone you trust who can access your accounts and perform business on your behalf after you are gone or in the event you are incapacitated. Make sure they can access your accounts in a timely manner. Safeguard your list, so that it doesn't end up being vulnerable to unauthorized access, identity theft, or data loss.

3. Determine the necessary documents for your estate, and make a record of your wishes. You may want to put some of your digital assets into a trust or even include specific access in a power of attorney. Consult with an estate planning attorney to determine the best way to determine your successors, trustees, and beneficiaries, and then make sure the right documents or designations are in place so access can be made when it’s needed. The laws in this arena are evolving, so any planning you’ve done in the past probably needs an update.

Potential Pitfalls of Cyber Estate Planning

The worst thing you can do is nothing. This could result in the loss of digital family photo albums or disruption of your business if you’re incapacitated. If this process feels daunting or you’re still not sure where or how to start, give us a call. We can help you identify, track, and protect your digital assets to give you peace of mind.

If you want to ensure that your family is cared for, please click here to schedule your complimentary Estate Planning Strategy Call with San Francisco’s premier estate planning attorney, Matthew J. Tuller.

Act Now! Avoid New IRS Regulations That Might Raise Taxes on Your Family’s Inheritance

The IRS recently released proposed regulations which effectively end valuation discounts that have been relied upon for over 20 years. If the IRS’s current timetable holds, these regulations may become final as early as January 1, 2017. Although that date isn’t set in stone, I expect that the regulations will be final around that time or shortly thereafter.

With New Regulations Looming, What Should You Do Now?

As I mentioned before, the timetable isn’t set in stone. Luckily, there’s still a narrow window of time to implement “freezing” techniques under current, more favorable law, to save taxes and protect your family’s inheritance.

Depending on your circumstances, some options are going to be a better fit than others, and I want to make sure you get the best outcome possible. Some of these “freezing” techniques involve the use of a family business entity to own and operate your family fortune, in combination with one or more special tax-saving trusts. These plans provide numerous benefits including asset protection, divorce protection, centralized management of assets, and more – in addition to the tax savings.

Unfortunately, these types of plans can take 2-3 months to fully implement and time is running short.

So, here’s your action plan:

1. First, schedule an appointment with me as soon as possible. I’d like to get a time on the calendar so that I can take a look at the options that are available to you under current law between now and the end of this year.

2. Second, find your estate planning portfolio and take a look at it. If I prepared your plan, you’ll have a graphic that represents your current plan, making it easy to review. (If you can’t find it, let me know and I will send you another one.) If someone else prepared your plan, you might have a graphic summary or some other type of summary. Regardless of who prepared your plan, now’s a great time to review your plan. When we meet, I want to make sure that anything we do to help you protect your family’s inheritance from the IRS still achieves your overall planning goals - and not just the tax-saving goals.

Our firm is available to assist you with the immediate implementation of your wealth transfer plan using valuation discounts that are still available under current law.

If you want to ensure that your family is cared for, please click here to schedule your complimentary Estate Planning Strategy Call with San Francisco’s premier estate planning attorney, Matthew J. Tuller.

Wondering Whether You Need to Update Your Estate Plan?

In short, the answer is yes. It’s unrealistic to think that a piece of paper you draft, reflecting your life at a certain time, will work when your life has completely changed some years later. We’ll use the Thompson family as an example.

Meet the Thompson’s:

Meet Bill and Karen Thompson. They got their first estate plan in place when their daughter, Jessica was born 30 years ago. They updated it when their son Steve came along 4 years later. They attended one of our living trust seminars 10 years ago and got a fantastic trust-based plan in place, protecting themselves, their children, grandchildren, and dog, Beacon.

Unfortunately, the Thompson’s didn’t join a client maintenance program; instead, they elected to take on the responsibility of calling for updates themselves. Life got busy and, as you might guess, that didn’t happen.

Here’s what’s changed in their lives in the last 10 years. Jessica and Steve are now adults and through college.

1.      Jessica has married and now had two daughters. One of the girls may have autism.

2.      Steve is also married and is expecting his first child.

3.      Karen’s mother is now living with them.

4.      They bought a vacation home in Florida.

Do you think their estate plan will still work the way they want it to?

Changes in Your Own Life:

The Thompson’s have experienced a lot of changes, but those changes might be typical of what 10 years brings. Think about the changes in your life over the past 10 years—or—since you last updated your estate plan.

Here are some questions that if answered yes, should lead you towards updating your estate plan.

1.      Have you moved?

2.      Do you have more children or grandchildren?

3.      Have you started a business, suffered health problems, or purchased a new home? Do you have  new accounts and investments?

4.      Do you now care for a parent, pets, or dependent children?

5.      Have you remarried, gotten divorced, or retired?

6.      Has someone you loved died?

7.      Have friends named in your plan as trusted helpers moved away or has your relationship changed?

8.      Are your children now adults and able to help you?

9.      Do you want to help with grandchildren’s college or dance lessons?

10.  Do you see the world in a different way?

Many things have happened in the past 10 years. Your estate plan needs to reflect the changes in your personal life, financial situation, and goals. There have also been changes in the law and we continuously learn to protect our clients in better and better ways, so the way we do things has changed.

Is Your Estate Plan Out-of-Date?

If you’ve experienced changes like the Thompsons or it’s been more than 3 to 5 years since you updated your estate plan, it’s time to come in. We’ll review your plan and chat with you about what’s been happening in your life, so we can get you and your estate plan up-to-date, reflecting where your life is now.

If you want to ensure that your family is cared for, please click here to schedule your complimentary Estate Planning Strategy Call with San Francisco’s premier estate planning attorney, Matthew J. Tuller.

Prince’s Incredibly Expensive And Unfortunate Mistake

The news of the unexpected death of music legend Prince, age 57, shocked the world and touched off stirring tributes from the likes of Bruce Springsteen, Elton John, the Harlem Gospel Choir, and the cast of Saturday Night Live.

Prince left a profound, indelible mark as an artist – when asked what it was like to be the greatest guitar player alive, for instance, Eric Clapton famously responded: “I don’t know. Ask Prince.” Tragically, though, for all his talent, Prince made a simple error that is creating huge complications for his family.

According to paperwork filed with the Carver County, Minnesota courts by Prince’s sister, Tyka Nelson, Prince died intestate. That means he left no will or other document to guide the disposition of his estate.

In April 2016, the court assigned a special administrator to manage his estate’s assets until a probate hearing can be held to appoint a personal representative.

Per Minnesota law, his estimated $300 million in assets—which include a large home and a music catalog rumored to contain valuable unreleased songs—must be distributed between his siblings. That may sound like a simple, mundane task, but it’s anything but.

Not surprisingly, the drama has already started. Reuters recently reported that several relatives have emerged from the woodwork to stake a claim to this fortune, including Carlin Q. Williams, who, “asserts he was sired by Prince during a tryst his mother had with the singer in a Kansas City hotel room in 1976.”

What Happens If, Like Prince, You Die Without a Will?

When a person dies intestate, state law determines how the estate is handled. Unsurprisingly, these rules can lead to outcomes that deviate dramatically from the person’s wishes.

For instance, in Minnesota— the location of Prince’s Paisley Park estate, where he passed away on April 21, 2016—half-siblings and full siblings are treated the same when it comes to inheritance. Tyka Nelson is Prince’s only full sibling; the singer also has five half-siblings.

Would Prince have wanted all six people to receive an equal share of his estate? Would he have left anything to Carlin Q. Williams? Would he have chosen to leave his estate to another person altogether… or to a meaningful charity? Did he just not care what happened to his legacy?

Unfortunately, since he died intestate—so we will never get answers to these questions.

A Simple, Inexpensive Solution Was Available All Along:

Prince famously toiled over every aspect of his musical art and developed a keen eye and ear for detail. Ironically, he could have prevented his estate’s issues without anything near the amount of effort he put into producing soaring songs like Purple Rain.

Working with an attorney to create an effective will or trust is not complicated. With just a few documents—including, for instance, a revocable trust, Advance Health Care Directive, Durable Power of Attorney, and HIPAA Authorizations—you can eliminate uncertainty and provide for the next generation and your favorite causes.

The costs of probating even a relatively small intestate estate can reach into the five figures, provoke infighting among the people you love dearly. Here in California, this process generally takes one or more years.

If you haven’t established a will or a trust, and you’ve been kicking yourself to get started because of cautionary stories like Prince’s, we can help.

Please click here to schedule your complimentary Estate Planning Strategy Call with San Francisco’s premier estate planning attorney, Matthew J. Tuller.

6 Ways a Trust Protector Can Fortify Your Trust

Trust protectors are a fairly new and commonly used protection in the United States. To summarize, a trust protector is someone who serves as an appointed authority over a trust that will be in existence for a long period of time. Trust protectors ensure that trustees: 1) maintain the integrity of the trust, 2) make solid distribution and investment decisions, and 3) adapt the trust to changes in law and circumstance. 

Whenever changes occur, as they naturally do, the trust protector has the power modify the trust to carry out the Grantor’s intent. Significantly, the trust protector has the power to act without going to court—a key benefit which saves time and money and honors family privacy. 

Here are 6 Key Ways a Trust Protector Can Protect You:

Your trust protector can:

1. Remove or replace a difficult trustee or one who is no longer able or willing to serve.

2. Amend the trust to reflect changes in the law.

3. Resolve conflicts between beneficiaries and trustee(s) or between multiple trustees.

4. Modify distributions from the trust because of changes in beneficiaries' lives such as premature death, divorce, drug addiction, disability, or lawsuit.

5. Allow new beneficiaries to be added when new descendants are born.

6. Veto investment decisions which might be unwise.

WARNING:

The key to making a trust protector work for you is being very specific about the powers available to that person. It’s important to authorize that person, and any future trust protectors, to fulfill their duty to carry out the trust maker’s intent - not their own.

Can You Benefit from a Trust Protector?

Generally speaking, the answer is yes. Trust protectors provide flexibility and an extra layer of protection for trust maker intent as well as trust assets and beneficiaries. Trust protector provisions are easily added into a new trust and older trusts can be reformed (re-drafted) to add a trust protector. If you have trusts you’ve created or are the beneficiary of a trust that feels outdated, we can help. If you want to ensure that your family is cared for, please click here to schedule your complimentary Estate Planning Strategy Call with San Francisco’s premier estate planning attorney, Matthew J. Tuller.

3 Examples of When an Irrevocable Trust Can—and Should—Be Modified

Did you know that irrevocable trusts can be modified? If you didn’t, you’re not alone. The name lends itself to that very belief. However, the truth is that changes in the law, family, trustees, and finances sometimes frustrate the trust maker’s original intent. Or, sometimes, an error in the trust document itself is identified. When this happens, it’s wise to consider trust modification, even if that trust is irrevocable.

Here are three examples of when an irrevocable trust can, and should, be modified or terminated:

1.  Changing Tax Law. Adam created an irrevocable trust in 1980 which held a life insurance policy excluding proceeds from his estate for federal estate tax purposes.  Today, the federal estate tax exemption has significantly increased making the trust unnecessary. 

2.  Changing Family Circumstances. Barbara created an irrevocable trust for her grandchild, Christine. Now an adult, Christine suffers from a disability and would benefit from government assistance. Barbara’s trust would disqualify Christine from receiving that assistance.

3.  Discovering Errors. David created an irrevocable trust to provide for his numerous children and grandchildren. However, after the trust was created, his son (Jack) discovered that his son (Frank) had been mistakenly omitted from the document. 

Are You Sure Your Trust is Still Working for You?

If you’re not sure an irrevocable trust is still a good fit or if you wonder whether you can receive more benefit from a trust, we’ll analyze the trust. Perhaps irrevocable trust modification or termination is a good option. Making that determination simply requires a conversation with us and a look at the document itself.

If you want to ensure that your family is cared for, please click here to schedule your complimentary Estate Planning Strategy Call with San Francisco’s premier estate planning attorney, Matthew J. Tuller.

4 Steps To Irrevocable Trust Decanting

1. We all need a “do over” from time to time. Life changes, the law changes, and professionals learn to do things in better ways. Change is a fact of life - and the law. Unfortunately, many folks think they’re stuck with an irrevocable trust. After all, if the trust can be revoked, why call it “irrevocable”? Good question.

Fortunately, irrevocable trusts can be changed and one way to make that change is to decant the original trust. Decanting is a “do over.” Funds from an existing trust (with less favorable terms) are distributed to a new trust (with more favorable terms). 

As the name may suggest, decanting a trust is similar to decanting wine: you take wine from one bottle and transfer it to another (decanter)—leaving the unwanted wine sediment / trust terms in the original bottle / document. Just like pouring wine from one bottle to another, decanting is relatively straight-forward and consists of these four steps:

1. Determine Whether Your State Has a Decanting Statute. 

Nearly half of US states currently have decanting laws. If yours does, determine whether the trustee is permitted to make the specific changes desired. If so, omit step 2 and move directly to step 3. 

If your state does not have a decanting statute, the answer isn’t as clear cut. While attempting to decant a trust in a state without a statute certainly can be done, it’s risky.  Consider step 2.

2. Move the Trust. 

If the trust’s current jurisdiction does not have a decanting statute or the existing statute is either not user friendly or does not allow for the desired modifications, it’s time to review the trust and determine if it can be moved to another jurisdiction.

If so, we can make that happen, including adding a trustee or co-trustee, and taking advantage of that jurisdiction’s laws. If not, we can petition the local court to move the trust.

3. Decant the Trust. 

We’ll prepare whatever documents are necessary to decant the trust by “pouring” the assets into a trust with more favorable terms. All statutory requirements must be followed and state decanting statutes referenced. 

4. Transfer the Assets. 

The final step is simply transferring assets from the old trust into the new trust. While this can be effectuated in many different ways, the most common are by deed, assignment, change of owner / beneficiary forms, and the creation of new accounts. 

Get the Most from Your Trust

Although irrevocable trusts are commonly thought of as documents which cannot be revoked or changed, that isn’t quite true. If you feel stuck with a less than optional trust, we’d love to review the trust and your goals to determine whether decanting or other trust modification would help.

If you want to ensure that your family is cared for, please click here to schedule your complimentary Estate Planning Strategy Call with San Francisco’s premier estate planning attorney, Matthew J. Tuller.

Decanting: How to Fix a Trust That Is NOT Getting Better With Age

While many wines get better with age, the same cannot be said for some irrevocable trusts.  Maybe you’re the beneficiary of trust created by your great grandfather over seventy years ago, and that trust no longer makes sense.  Or, perhaps you created an irrevocable trust over twenty years ago, and it no longer makes sense.  Wine sommeliers may ask: ‘Is there any way to fix an irrevocable trust that has turned from a fine wine into vinegar?’  You may be surprised to learn that under certain circumstances the answer is yes. How? By “decanting” the old fragmented trust into a brand new one.

What Does It Mean to “Decant” a Trust?

Wine lovers know that the term “decant” means to pour wine from one container into another to open up the aromas and flavors of the wine.  In the world of irrevocable trusts, “decant” refers to the transfer of some or all of the property held in an existing trust into a brand new trust with different and more favorable terms.

When Does It Make Sense to Decant a Trust?

Decanting a trust makes sense under a myriad of different circumstances, including the following examples:

1. Tweak the trustee provisions to clarify who can or cannot serve as the trustee.

2. Expand or limit the powers of the trustee.

3. Convert a trust that terminates when a beneficiary reaches a certain age into a lifetime trust.

4. Change a support trust into a full discretionary trust to protect the trust assets from the beneficiary’s creditors.

5. Clarify ambiguous provisions or drafting errors in the existing trust.

6. Change the governing law or trust situs to a less taxing or more beneficiary friendly state.

7. Add, modify, or remove powers of appointment for tax or other reasons.

8. Merge similar trusts into a single trust for the same beneficiary.

9. Create separate trusts from a single trust to address the differing needs of multiple beneficiaries.

10. Provide for and protect a special needs beneficiary.  

What is the Process for Decanting a Trust?

Decanting must be allowed under applicable state case law or statutory law.  Aside from this, the trust agreement may contain specific instructions with regard to when or how a trust may be decanted.

Once it is determined that a trust can and should be decanted, the next step is for the trustee to create the new trust agreement with the desired provisions.  The trustee must then transfer some or all of the property from the existing trust into the new trust.  Any assets remaining in the existing trust will continue to be administered under its terms; and, an empty trust will be terminated.

WARNING:  Decanting is Not the Only Solution to Fix a Broken Trust

While decanting may work under certain circumstances, fortunately, it is not the only way to fix a “broken” irrevocable trust.  Our firm can help you evaluate options available to fix your broken trust and determine which method will work the best for your situation.

If you want to ensure that your family is cared for, please click here to schedule your complimentary Estate Planning Strategy Call with San Francisco’s premier estate planning attorney, Matthew J. Tuller.

Marlon Brando’s Story— The Perils of Promises…

Legendary Oscar-winning actor Marlon Brando left the bulk of his estate [worth approximately $26 million] to his producer and other associates. 

Brando created a valid last will and testament. However, he did not include his longtime housekeeper Angela Borlaza—who later sued alleging that Brando promised that she would inherit a home from him, when he died.

A Promise Is A Promise…

While a promise is a promise, not all promises are legally equal.  In the courtroom, an oral promise is usually not treated the same as a written promise. In this case, Brando either never promised Borlaza anything or promised to give her the home, but never got around to putting it in his will [or in a written contract].  Borlaza claimed a promise about a home was made and sued his estate for $627,000. 

However, the alleged promise was oral. The law generally favors written evidence when it comes to estate planning matters, so the court examined only what was written in Brando’s will on the assumption that he made all of his wishes known. Borlaza eventually settled the matter for $125,000, but she was lucky to get even that. 

Oral promises about inheritances are typically not legally valid and usually only introduce confusion and uncertainty about formal estate planning documents (such as a will or trust). Courts can – and reasonably must – rely upon the documents, like a will, when probating an estate. Although you might be trying to save money or time by promising inheritances to family members, friends, or others, but you aren’t doing anyone a favor. Luckily, there is a way to make your promises and wishes legally valid.

Put It in Writing - The Key to Making Promises Work:

Make sure that your loved ones receive everything you promised them by putting your wishes in writing through a last will and testament, a trust, or other estate planning tool. Don’t rest on your laurels. It is imperative to update your estate planning documents when any significant or life changing events occur such as:

1. A new oral promise you made to someone;

2. Adoption;

3. Birth;

4. Change In Circumstance [change in health, wealth, or state of residence];

5. Divorce;

6. Income Changes;

7. Marriage;

8. Divorce; or

9. Re-marriage.

Need help putting your wishes in writing? You’re in the right place. Contact our office today and let us help you decide what type of estate plan might work best for your situation. It’s easier than you think and will give you the peace of mind that your loved ones aren’t forgotten.

If you want to ensure that your family is cared for, please click here to schedule your complimentary Estate Planning Strategy Call with San Francisco’s premier estate planning attorney, Matthew J. Tuller.

The Dangers An Unfunded Trust—Endless Probate Battles Over Michael Jackson’s Estate

Michael Jackson, the “King of Pop,” had always been a controversial superstar. Over the years, he became the father of three children, Prince Michael Jackson II, Paris-Michael Katherine Jackson, and Michael Joseph Jackson, Jr. 

While Jackson created a trust to care for his children and other family and friends, he never actually fundedit. The result? Embarrassing and seemingly endless probate court battles between family members, the executors, and the IRS.

4 Essential Purposes of a Trust:

A trust is a fiduciary arrangement which allows a third party (known as a trustee) to hold assets on behalf of beneficiaries. There are four primary benefits of trusts:

• Avoiding probate. Funded trusts are not subject to probate. However, unfunded or underfundedtrusts, just like wills, generally must go through probate.

• Maintaining privacy. Probate is a matter of public record. However, since trusts aren’t subject to probate, privacy is maintained.

• Mitigating the chance of litigation. Since trusts are not subject to the probate process, they are not a matter of public record. Therefore, fewer people know estate plan details – mitigating the chance of litigation.

• Providing asset protection. Assets passed to loved ones in trust can be drafted to provide legal protection so assets cannot be easily seized by predators and creditors.

While these are arguably the most essential purposes, trusts can also affect what you pay in estate taxes as well.

Sadly, Jackson could not take advantage of any of these benefits. Although he created a “pour-over” will, which was intended to put his assets into a trust after his death, the “pour-over” will, like any other will, still had to be probated. 

The probate, along with naming his attorney and a music executive as his executors (instead of family members), fueled a fire that could have been avoided with more mindful planning. Given the size of Jackson’s estate, it’s no surprise that everyone wanted a piece of the pie. 

Don’t Burden Your Family!

Losing a loved one is difficult enough without having to endure legal battles afterward. In Jackson’s situation, a proper estate plan could have reduced litigation and legal fees, and helped provide privacy for his survivors. His situation, although it deals with hundreds of millions of dollars, applies to anyone who has assets worth protecting. In other words, it likely applies to everyone!

There are many types of trusts and estate planning tools available to ensure that you don’t burden your family after your death. We’ll show you how to best provide for and protect your loved ones by creating the type of estate plan which is tailored to fit your needs.

If you want to ensure that your family is cared for, please click here to schedule your complimentary Estate Planning Strategy Call with San Francisco’s premier estate planning attorney, Matthew J. Tuller.

Revocable Trust v. Irrevocable Trust: Which Is Best for You?

Trusts allow you to avoid probate, minimize taxes, provide organization, maintain control, and provide for yourself and your heirs. In its most simple terms, a trust is a book of instructions wherein you tell your people what to do, when.

While there are many types of trusts, the major distinction between trusts is whether they are revocable or irrevocable. Let’s take a look at both so you’ll have the information you need:

Revocable Trusts. Revocable trusts are also known as “living trusts” because they benefit you during your lifetime and you can alter, change, modify, or revoke them if your circumstances or goals change.

1. You stay in control of your revocable trust. You can transfer property into a trust and take it out, serve as the trustee, and be the beneficiary. You have full control. Most of our clients like that.

2. You select successor trustees to manage the trust if you become incapacitated and when you die.   Most of our clients like that they, not the courts, select who’s in charge when they need help.

3. Your trust assets avoid probate. This makes it difficult for creditors to access assets since they must petition a court for an order to enable the creditor to get to the assets held in the trust. Most of our clients want to protect their beneficiaries’ inheritances.

Irrevocable Trusts: When irrevocable trusts are used, assets are transferred out of the Grantor’s estate into the name of the trust.  You, as the Grantor, cannot alter, change, modify, or revoke this trust after execution. It’s irrevocable and you usually can’t be in control.

1. Irrevocable trust assets have increased asset protection and are kept out of the reach of creditors.

2. Taxes are often reduced because, in most cases, irrevocable trust assets are no longer part of your estate.

3. Trust protectors can modify your trust if your goals become frustrated.

As experienced estate planning attorneys, we can help you figure out whether a revocable or irrevocable trust is a good fit for you and your loved ones. If you want to ensure that your family is cared for, please click here to schedule your complimentary Estate Planning Strategy Call with San Francisco’s premier estate planning attorney, Matthew J. Tuller.

10 Types of Trusts: A Quick Look

Considering the myriad of trusts available, creating an estate plan that works can seem daunting.  However, that’s what we, as estate planning attorneys, do every day. We know the laws and will design a plan which addresses your specific situation. 

Here’s a look at the basics of ten common trusts to provide a general understanding. There will not be a quiz at the end. All you need to do when we meet is share your goals and insight into your family and financial situation, we’ll design a plan that incorporates the best documents for your situation.

1. Bypass Trusts. Commonly referred to as Credit Shelter Trust, Family Trust, or B Trust, Bypass Trusts do just that: bypass the surviving spouse’s estate to take advantage of tax exclusions and provide asset protection. 

2. Charitable Lead Trusts. CLT's are split interest trusts which provide a stream of income to a charity of your choice for a period of years or a lifetime. Whatever’s left goes to you or your loved ones.

3. Charitable Remainder Trusts. CRTs are split interest trusts which provide a stream of income to you for a period of years or a lifetime and the remainder goes to the charity of your choice. 

4. Special Needs Trusts. SNT's allow you to benefit someone with special needs without disqualifying them for governmental benefits. Federal laws allow special needs beneficiaries to obtain benefits from a carefully crafted trust without defeating eligibility for government benefits.

5. Generation-Skipping Trusts.  GST Trusts allow you to distribute your assets to your grandchildren, or even to later generations, without paying the generation-skipping tax.

6. Grantor Retained Annuity Trusts. GRAT's are irrevocable trusts which are used to make large financial gifts to family members while limiting estate and gift taxes.

7. Irrevocable Life Insurance Trusts. ILIT's are designed to exclude life insurance proceeds from the deceased’s estate for tax purposes. However, proceeds are still available to provide liquidity to pay taxes, equalize inheritances, fund buy-sell agreements, or provide an inheritance.

8. Marital Trusts. Marital Trusts are designed to provide asset protection and financial benefits to a surviving spouse. Trust assets are included in his or her estate for tax purposes.

9. Qualified Terminable Interest Property Trusts.  QTIP's initially provide income to a surviving spouse and, upon his or her death, the remaining assets are distributed to other named beneficiaries. These are commonly used in second marriage situations and to maximize estate and generation-skipping tax exemptions and tax planning flexibility.

10.  Testamentary Trusts. Testamentary Trusts are created in a will. These trusts are created upon an individual's death and are commonly used to provide for a beneficiary. They are commonly used when a beneficiary is too young, has medical or drug issues, or may be a spendthrift. Trusts also provide asset protection from lawsuits brought against the beneficiary.

There are many types of trusts available. We’ll help you select which trusts, if any, are a good fit for you. If you want to ensure that your family is cared for, please click here to schedule your complimentary Estate Planning Strategy Call with San Francisco’s premier estate planning attorney, Matthew J. Tuller.

Wills, Trusts & Dying Intestate: How They Differ

Most people understand that having some sort of an estate plan is, as Martha Stewart would say, a “good thing.” However, many of us don’t take the steps to get that estate plan in place because we don’t understand the nuances between wills and trusts – and dying without either.

Here’s what will generally happen if you die, intestate (without a will or trust), with a will, and with a trust. For this example, we’re assuming you have children, but no spouse:

A. Intestate. If you should die intestate, your estate will go through probate and all the world will know what you owned, what you owed, and who got what. Your mortgage company, car loan company, and credit card companies will all seek payment on balances you owed at the time of your death. 

 After that, state law decides who gets what—and when. 

1. For example, if your only heirs are your children and you have not provided any instructions, state law will mandate divvying up proceeds equally. 

2. Your older children will get their shares immediately if they’ve attained adulthood.

3. But, the court will appoint a guardian to manage the money for your minor children until they become adults. 

4. Shockingly, that guardian can charge a lot of money and be a total stranger - as can the guardian who raises your child.  

5. Yes, if you die without a valid will, the court, not you, will decide who raises your minor children.

Keep in mind that since your death has been published to alert valid creditors, it’s not uncommon for predators (fake creditors) to come forth and make demands for payment – even if they’re not owed anything. 

The bottom line: Dying intestate allows state law and the court to make all the decisions on your behalf – regardless of what your intent might have been. Publicity is guaranteed.

 B. Will. If you should die with a valid will, your assets will still go through the probate process. However, after creditors have been satisfied, the remaining assets go to whom you’ve identified in your will. 

 1. So, if you want to leave money to your children and name a guardian for the minor ones, the court will usually abide by your wishes. 

2. The same holds true if you specified that you wanted to give assets to a charity, your Aunt Betty, or your neighbor. 

3. Keep in mind that predatory creditors are still an issue as your death has been publicized. Even with a will, probate is a public process.

The bottom line: While a court oversees the process, having a will allows you to tell the court exactly how you want your estate to be handled. But, a public probate is still guaranteed.

 C.Trust. If you’ve created a trust, you’ve taken control of your estate plan and your assets.  Trust assets are not subject to the probate process and one of the most important benefits of trusts is that they are private. Notices are not published, so you avoid predators coming after your estate. 

You’ll have named a trustee to manage your estate with specific instructions on how your assets should be dispersed and when. 

1.One word of caution – trusts must be funded in order to bypass probate. 

2.Funding means that your assets have been retitled in the name of your trust.

3.Think of your trust as a bushel basket. You must put the apples into the basket as you must put your assets into the trust for either to have value.

You do still need a will to pour any assets inadvertently or intentionally left out of your trust and to name guardians for minor children.

The bottom line: Trusts allow you to maintain control of your assets through your chosen trustee, avoid probate, and leave specific instructions so that your children are taken care of – without receiving a lump sum of money at an age where they are more likely to squander it or have it seized from them.

Don’t let the will versus trust controversy slow you down. Call the office today; we’ll put together an estate plan that works for you and your family whether it be a will, trust, or both.

If you want to ensure that your family is cared for, please click here to schedule your complimentary Estate Planning Strategy Call with San Francisco’s premier estate planning attorney, Matthew J. Tuller.

Wills vs. Trusts: A Quick & Simple Reference Guide

Confused about the differences between wills and trusts?  If so, you’re not alone. While it’s always wise to contact experts like us, it’s also important to understand the basics. Here’s a quick and simple reference guide:

What Revocable Living Trusts Can Do—That Wills Cannot:

1. Avoid a conservatorship and guardianship. A revocable living trust allows you to authorize your spouse, partner, child, or other trusted person to manage your assets should you become incapacitated and unable to manage your own affairs. Wills only become effective when you die, so they are useless in avoiding conservatorship and guardianship proceedings during your life.

2. Bypass probate. Property in a revocable living trust does not pass through probate. Property that passes using a will guarantees probate. The probate process, designed to wrap up a person’s affairs after satisfying outstanding debts, is public and can be costly and time consuming – sometimes taking years to resolve.

3. Maintain privacy after death. Wills are public documents; trusts are not. Anyone, including nosey neighbors, predators, and unscrupulous “charities” can discover the details of your estate if you have a will. Trusts allow you to maintain your family’s privacy after death. 

4. Protect you from court challenges. Although court challenges to wills and trusts occur, attacking a trust is generally much harder than attacking a will because trust provisions are not made public.

 What Wills Can Do – That Revocable Living Trusts Cannot:                 

1. Name guardians for children. Only a will – not a living trust or any other type of document – can be used to name guardians to care for minor children.

2. Specify an executor or personal representative. Wills allow you to name an executor or personal representative – someone who will take responsibility to wrap up your estate after you die. This typically involves working with the probate court, protecting assets, paying your debts, and distributing what remains to beneficiaries. But, if there are no assets in your probate estate (because you have a fully funded revocable trust), this feature is not necessarily useful.

 What Both Wills & Trusts Can Do:

1. Allow revisions to your document. Both wills and trusts can be revised whenever your intentions or circumstances change so long as you have the legal capacity to execute them. 

   a. WARNING: There is such as a thing as irrevocable trusts, which cannot be changed without legal action.    

 2. Name beneficiaries. Both wills and trusts are vehicles which allow you to name beneficiaries for your assets. 

 a. Wills simply describe assets and proclaim who gets what. Only assets in your individual name will be controlled by a will.

 b. While trusts act similarly, you must go one step further and “transfer” the property into the trust – commonly referred to as “funding.” Only assets in the name of your trust will be controlled by your trust.

 3.  Provide asset protection. Trusts, and less commonly, wills, are crafted to include protective sub-trusts which allow your beneficiaries access but keep the assets from being seized by their creditors such as divorcing spouses, car accident litigants, bankruptcy trustee, and business failure.

While some of the differences between wills and trusts are subtle; others are not. Together, we’ll take a look at your goals as well as your financial and family situation and design an estate plan tailored to your needs. Call us today and let’s get started.

 If you want to ensure that your family is cared for, please click here to schedule your complimentary Estate Planning Strategy Call with San Francisco’s premier estate planning attorney, Matthew J. Tuller.

James Brown’s Vague Estate Plan Equated To Years of Family Litigation

James Brown, the legendary singer, songwriter, record producer, dancer, and bandleader was known to many as the “Godfather of Soul.” Although he intended his estimated $100 million estate to provide for all of his children and grandchildren, his intentions were somewhat vague.  This forced his family into years of litigation which ended up in the South Carolina Supreme Court.

As an estate planning attorney, I work with my clients’ to ensure that we avoid these types of situations before they happen. In this author’s humble opinion, it is well worth spending the time up-front, to avoid the nightmares that can result later without proper planning.

Everything Seemed In Order…

Brown signed his last will and testament in front of Strom Thurmond, Jr. in 2000. Along with the will that bequeathed personal assets such as clothing, cars, and jewelry, Brown created a separate, irrevocable trust which bequeathed music rights, business assets, and his South Carolina home. 

At first glance, it seems as though everything in Brown’s estate plan was in order. In fact, he was very specific about most of his intentions, including:

1. Donating the majority of his music empire to an educational charity

2. Providing for each of his six adult living children (Terry Brown, Larry Brown, Daryl Brown, Yamma Brown Lumar, Deanna Brown Thomas and Venisha Brown)

3. Creating a family education fund for his grandchildren

However, only days after his death in 2006 from congestive heart failure, chaos erupted. 

Heirs Not Happy With Charitable Donation:

Apparently, Brown’s substantial charitable donations didn’t sit well with his heirs. Both his children and wife contested the estate.

 i. Children. His children filed a lawsuit against the personal representatives of Brown's estate alleging impropriety and alleged mismanagement of Brown's assets. (This was likely a protest of the charitable donation.)

 ii. Wife. Brown’s wife at the time, Tomi Rae Hynie, and the son they had together, received nothing as Brown never updated his will to reflect the marriage or birth. In her lawsuit, Hynie asked the court to recognize her as Brown's widow and their son as an heir. 

In the end, the South Carolina Supreme Court upheld Brown’s plans to benefit charities and recognized Hynie and their son as an heir. 

Should You Anticipate Litigation?

Brown’s estate was substantial and somewhat controversial – and he failed to update or communicate his intentions to his family.  His heirs were taken by surprise.  And experienced attorney could have avoided much of the family upset.

If you want to ensure that your family is cared for, please click here to schedule your complimentary Estate Planning Strategy Call with San Francisco’s premier estate planning attorney, Matthew J. Tuller.