Claimed Lawyer ProfileQ&AResponsive Law
- Estate Planning
- Stockbroker & Investment Fraud
- Elder Law
- Free Consultation
- Contingent Fees
Jurisdictions Admitted to Practice
- English: Spoken, Written
- Law Office of Jeffrey Gaffney
- - Current
- For 25 years I have helped regular people solve their investment and planning problems, I primarily do estate planning, but I am also familiar with conservatorships and stock broker malpractice and fraud. I am proud to have been helping the elde community with all manner of financial issues and look forward to doing it for many years to come.
- US Navy
- For thirty years I was a Naval Officer, Reserve and Active. I served as a Surface Warfare Officer, leading large groups of sailors in complex situations worldwide.
- Clerk, then Attorney
- Law Office of John Allen
- My first legal job. I began as a clerk while still in Law School and stayed on after I passed the bar. I spent those years learning how to sue a stockbroker and fix their greedy sins.
- Registered Representative and Manager
- First Investors Corp.
- After I left active duty with the Navy I became a "used stock salesman", which I hated. I left there to attend Law School.
- SUNY Coll at Oswego
- Undergraduate Degree
- Univ of San Diego School of Law
- Law Degree
- US Army War College
- M.A. (2004) | National Securities Studies
- Military graduate school.
- Distinguished Service Award
- San Diego Volunteer Lawyer Program
- For my work with victims of domestic violence and elder abuse.
- Meritorious Service Medal. Numerous and various lesser awards.
- US Navy
- Wide variety of military awards for superior performance.
- National Meritorious Service Award
- Operation Homefront
- For work in helping to establish a new program for mobilized reservists.
- Marion Mahar Award
- State University of New York
- Named the Outstanding graduate in my major for my undergraduate degree.
- Black Belt, First Degree
- International Tae Kwon Do Federation
- Regents Scholarship
- New York State
- Academic scholarship granted to pay for my undergraduate tuition based on academic achievement.
- California Bar Association
- - Current
- California State Bar
- - Current
- Elder Counsel
Websites & Blogs
104 Questions Answered
- Q. Uniform Testamentary Additions to Trust Act (UTATA) -
- A: I believe you are mistaken. The UTATA allows a Pour Over Will but does not mandate any reference in the Trust. You can read the whole thing at https://www.uniformlaws.org/HigherLogic/System/DownloadDocumentFile.ashx?DocumentFileKey=3d61f708-a5e8-c468-11ad-b29f19739ab4#:~:text=Section%202%2D511%20of%20the,be%20established%20(funded%20with%20a Also, California has never adopted the UTATA.
- Q. Paying off my parent's mortgage and putting the title under my name
- A: NO!!!!!!!! If you move the house into your name while they are alive then you will give up a HUGE tax advantage. Right now if the house is sold, your parents have a big tax liability for all the profit they make on the sale (probably). If they GIVE the property to you then you carry the same tax burden (you will have the same taxable profit on sale). If you inherit the property, then the tax basis for you steps up to the current value. The math: parents bought the house for $100,000 and now it is worth $1 million. That is a $900,000 taxable gain if they sell (yes they can take $250,000 each of that tax free if it is their home). If they give you the house, your tax basis is $100,000 (you get their tax basis). If you inherit, then your tax basis is $1 million (current value) and nobody pays tax on that $900,000 of gain. Next problem: if mom or dad or both go into a nursing home and they have given away a valuable asset in the previous 30 months (like, say, a house) then Medi-Cal will tell them "No Way" until that 30 months is up, and they will have to pay for their own nursing home care at $10,000 per month or more. Solution is to put the house in a Trust of some sort. That will make sure the house goes where they want it and not to the government to pay back for nursing home care. See an estate planning or elder law attorney.
- Q. New Baby Not Listed in the Family Trust - Will She Still Inherit?
- A: You have to look at the Trust to see how it is written. When I write one I make it so you never have to worry about this problem and don't have to update your Trust every time anyone has a baby. I bet this Trust is written that way too, BUT a Trust can be written any way the client wants so you really have to look at it to see if the money goes to your boyfriend's heirs if he dies before his mother.
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