San Jose Estate Planning Attorney Blog

Two weeks ago I wrote about the unique rules for decedents dying in 2010.

On Tuesday, the IRS gave another well needed extension to Fiduciaries who are responsible for filing tax returns for decedents dying in 2010.

As you know, Congress changed the tax code on December 17, 2010, creating confusion and complications for both the IRS and the estate tax attorney's, CPA's, and Enrolled Agents who work with Fiduciaries needing to be in compliance with the new law.

Here are the new deadlines you need to know.

Form 8939, the form to allocate Carry-Over Basis, for decedent's electing out of the $5,000,000 exemption, will now be due on January 17, 2012.  This is a change from a couple of weeks ago where they announced a November 15, 2011 filing deadline.  No statement or filing is required for this change. The IRS, however, is saying that extensions will only be given

For the 706 estate tax return, if you file a timely 4768 request for extension, you will have until March 15, 2012 before the return needs to be filed.  Interest will be charged, however, for failure to pay any tax owed on time.

Details are in Notice 2011–76.

By the way… There is still a September 19, 2011, deadline to disclaim property.

If you are not familiar with the Silicon Valley Community Foundation you are doing yourself and your clients a disservice. 

Check out their new, redesigned website at www.siliconvalleycf.org.

They are an excellent resource for charitable giving information, and they provide support and administration for various charitable trusts and foundations.  They also have an excellent Donor Advised Fund many of our clients use. 

No matter your client's situation, even if working with the community foundation or some other charitable organization, make sure that they work with a qualified charitable planning attorney to plan their gifting and create the necessary documents.

Mary Emery was Dean of Admissions at the University of Santa Clara School of Law since 1985.  She was one of the first three women to graduate from the law school, completing her degree in 1963.

You can read a very nice tribute to her in the San Jose Mercury News.

While I was a student at the school, she awarded me a scholarship helping defray the large cost of tuition. 

I first met Dean Emery through her admin Patti.  Patti's brother Jeff was best man at my wedding. With my career “wandering in the wilderness,” Patti suggested I meet with Dean Emery about attending law school. 

It was Dean Emery, with Patti's help, who provided me a path into law school, who encouraged me when things were tough, and who remained my friend after graduation as well.

She will be missed.

Liz Chamberlin, Principal of Leland High School in the Almaden Valley is the years top principal according to the National Forensics League (Speech & Debate).

I am proud to say that I was a member of the Speech & Debate team at Leland when I was in high school. (I even won a couple of awards).  At that time, we had about 20 kids competing in various events.  My best friend in high school, Dennis Galvan, went to Nationals.  He is now an International Relations Associate Professor at the University of Oregon. 

Today the program has almost 400 members.  It is the largest team in the nation.  Much of the success of the Speech and Debate team goes to Gay Brasher.  She is a member of the National Forensics League Hall of Fame, and taught at Leland for over 40 years.  Even though she is currently retired, she continues to devote her time to helping high schoolers learn the art of speaking in public.

Many of you have seen me speak in public at our Boot Camp or at a lunch or dinner for your professional organization.  As a lawyer, I am often called to represent clients in court.  Speaking skills are an essential part of my work.

I can honestly say that most of the speaking skills I have are learned from Gay Brasher.  Many days, after school, she would work with us on our techniques, hand placement, vocal intonation, etc.  And there are thousands of others who can say the same.

This is my Thank You to her.  For her efforts to make me a better speaker.

However, she could not do it alone.  While we only had Mrs. Brasher to work with.  Today, there is a team of volunteers who help.  But there are also many others without whose support the Speech & Debate program would not exist. It is nice that the National Forensics League is recognizing that and making Liz Chamberlin their first Principal of the Year.

Our law office is based in San Jose, California.

I recently came across a wonderful blog all about San Jose.

I thought you might enjoy.

www.thesanjoseblog.com