The Estate Planning Edge
Plan Early, Plan Well
The Law Office of
Doron M. Tisser
818-226-9125
August 2009
info@tisserlaw.com
In This Issue
Team Tisser Foundation
Did You Know...?
What's Happening
Durable Powers of Attorney for Health Care
Team Tisser Foundation

Doron winning a race

     Team Tisser Foundation (TTF) is a non-profit corporation founded by Doron M. Tisser and his wife Laurie.  TTF raises money for various charitable purposes and does not focus on any one charity or charitable purpose.  The goal is to raise as much money as possible to "Help Make A Difference" by "Improving Life for Others."  TTF has made donations to Memorial Sloan-Kettering Cancer Center, Leukemia & Lymphoma Society, Challenged Athletes Foundation, as well as charities helping people affected by natural disasters such as Hurricane Katrina and the Tsunamis.  Since 2000, TTF has donated almost $175,000 to over 25 different charities.  Friends and clients generally donate money to TTF to support Doron's participation in triathlons and marathons.  If you would like more information about TTF, please contact Doron at doron@tisserlaw.com, or visit www.teamtisser.org.

Did You Know?

      An irrevocable trust (e.g., an irrevocable life insurance trust), by definition, cannot be amended or revoked.  But it is possible to have changes made to an irrevocable trust if the trust includes provisions appointing a trust protector who can make changes to the trust.  Without this important provision, changes may not be able to be made to an irrevocable trust as circumstances change.  Read our discussion on this very important issue in our next Newsletter.

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818-226-9125

The Law Office of
Doron M. Tisser
5425 Farralone Ave
Suite 100
Woodland Hills, CA
91367-6312
  

Doron M. Tisser

     Doron M. Tisser has specialized in estate and gift planning, tax planning, trust and probate administration, charitable giving, buy-sell agreements and related areas for over 27 years.  Mr. Tisser is one of less than 100 attorneys in California who has been designated as both a Certified Specialist in Probate, Estate Planning and Trust Law, and as a Certified Specialist in Taxation Law by the State Bar of California Board of Legal Specialization.  He was chosen by his peers as a 2009 Super Lawyer for Southern California, and enjoys an "a.v." rating by Martindale-Hubbell Law Directory, which is the highest possible rating and is based on ethical considerations and legal skills.  Mr. Tisser has published over 65 articles and chapters in books on various estate and tax planning subjects and is a frequent speaker and lecturer at estate and tax planning seminars.  Mr. Tisser competes in triathlons, including Ironman races, and raises money for charities through Team Tisser Foundation, a non-profit corporation he co-founded with his wife Laurie.
 
         A durable power of attorney for health care is a document that allows a person you select to make medical decisions for you if you cannot make them for yourself.  This month's Newsletter will discuss the importance of this document and specific provisions it should include. 
 
            We hope you enjoy the Newsletter.  If you have any suggestions, please do not hesitate to send them to us at info@tisserlaw.com.
 
            As always, please call us with your questions and remember, "Plan Early, Plan Well".

Sincerely yours,
Doron
What's Happening

  • Doron M. Tisser spoke to an Advanced Real Estate Class at UCLA on the benefits of Advanced Estate Tax Planning on July 22, 2009.

  • Doron M. Tisser has been included in the 2010 Presidential Who's Who Among Business and Professional Achievers.

  • On October 10, 2009, Doron M. Tisser will be competing in a half Ironman distance event (1.2 mile swim, 56 mile bike and 13.1 mile run) as part of his effort to raise money for Team Tisser Foundation ("TTF"), a non-profit corporation, founded by Doron and his wife, Laurie.  TTF's whose mission is to "Improve Life for Others." Doron will also be competing in several other triathlons and marathons.  If you would like to donate to TTF, please contact Doron at doron@tisserlaw.com.

  • There are many proposals in Congress to change the estate tax laws and how much can be left estate tax free at death.  We are watching the proposals to see which one will become law and how it will affect our clients' estate plans.  We expect significant changes in the estate tax laws this year and will let you know as those changes take place.

Durable Powers of Attorney
For Health Care


            One of the most important estate planning documents you can have is a Durable Power of Attorney for Health Care ("DPAHC").  In general, this document allows you to authorize another person (your "Agent") to make medical decisions for you in the event you are unable to do so for yourself.  This document should be differentiated from a Declaration Concerning Life-Sustaining Treatment ("Declaration"), which states, in general, that you not be kept on life-sustaining devices if there is no hope for your recovery.  Therefore, while the Declaration states your intention of how you want to be treated, the DPAHC allows another person to act on your behalf.
 
            In addition to naming an Agent, your DPAHC should name successors in case one or more of your Agents cannot act for you.
 
            A DPAHC can allow a person to authorize an autopsy or donate parts of your body either for research or for the benefit of other persons after you have died.  Some religions have specific rules regarding these matters and you should make sure that the document you execute complies with your religious beliefs.
 
            A DPAHC can be effective immediately, or can become effective when you are incapacitated and no longer able to make decisions for yourself.  Generally, the DPAHC should be effective immediately because until your Agent is authorized to act under your DPAHC, medical providers are not authorized to release information about your medical situation to your Agent.
 
            A DPAHC should not have a termination date and should be effective until revoked.  Some older DPAHCs provided that they were effective for seven years; a new DPAHC had to be executed before the end of the seven years or you would not have a valid DPAHC.  If your DPAHC has a seven year provision in it, you should execute a new DPAHC.
 
            In order to allow medical providers to release information about your medical condition to your Agent, your DPAHC must contain provisions complying with the Health Insurance Portability and Accountability Act of 1996 ("HIPAA").  If your DPAHC does not contain these provisions, you should execute a new DPAHC.  Generally, your DPAHC will not contain these provisions if it was executed before October 2004.
 
            You should make sure your DPAHC is still valid, names the persons you want to act for you, and properly states your intentions.  If you do not have a DPAHC, you should consider executing such a document. 


This communication published by the Law Office of Doron M. Tisser is intended as general information and may not be relied upon as legal advice, which can only be given by a lawyer based upon all the relevant facts and circumstances of a particular situation.

Copyright Doron M. Tisser, Esq. 2009.  All Rights Reserved.