Jeffrey Louis Gaffney
Helping people protect assets and plan their estates in North County San Diego.
Jeffrey Gaffney is a 30 year attorney and retired Navy Captain. Originally from New York, he moved to San Diego in 1985 and has remained here since, military duties permitting.
An attorney since 1993, Jeff is a graduate of the University of San Diego School of Law. He began as a law clerk in 1991, helping aggrieved investors recover from unscrupulous stockbrokers. A former registered representative ("used stock salesman") and principal (licensed manager of registered representatives), he began his own law firm in the midst of a scandal involving Prudential Securities' sales of limited partnerships. Since then, he has handled over 300 cases against brokerage houses.
Several years ago, Jeff combined trust and estates law into his practice -- a natural extension to the financial and planning advice he had been giving clients for years.
Jeff finished 30 years of active and reserve duty in March 2015. He enjoyed a successful career with eight years of active time, and 22 years of vigorous participation in the reserve. He led two major international exercises, served in the Middle East on several occasions, and had three command tours. His favorite job was a 2.5 year recall to active duty to run the Navy's history programs and museums; sadly this included being on the Navy Yard for the 2013 shooting.
An environmentalist, the Gaffney family has its own nonprofit organization to support sea turtle conservation, of which Jeff is the Treasurer (www.gaffneyseaturtleproject.org). He is also active with San Diego Coastkeeper. He enjoys summers in Central America working to preserve marine life.
A 1983 graduate of the State University of New York at Oswego, Jeff was named the outstanding graduate in his major. He graduated USD Law School in 1993. He later received a Masters in Strategic Studies from the U.S. Army War College in 2004. Jeff is also a graduate of the non-resident (non-degree) programs of the Naval War College.
- Estate Planning
- Guardianship & Conservatorship Estate Administration, Health Care Directives, Trusts, Wills
- Elder Law
- Free Consultation
- Contingent Fees
- California
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- English: Spoken, Written
- Attorney
- 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.
- Officer
- US Navy
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- 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
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- 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.
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- 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
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- Univ of San Diego School of Law
- Law Degree
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- US Army War College
- M.A. (2004) | National Securities Studies
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- Military graduate school.
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- 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
- California Bar Association
- Member
- - Current
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- California State Bar
- - Current
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- Q. Do my parents need to update their will if they gift me the house?
- A: Never gift away large assets!
This is all about your tax basis in the asset. The tax basis is the amount the IRS uses to figure out your profit when you sell, so they can tax the profit. Usually, this amount is the purchase price.
If you give someone an asset, you also give them your tax basis (which is a bad thing). If I paid $100,000 for my house many years ago and now it is worth $1 Million, then there is a $900,000 gain waiting to be taxed when I sell (at maybe 20%). If I give you the house, I also give you the $100,000 tax basis (my purchase price) and when you sell the house YOU will have to pay the tax on the $900,000 gain.
What you want is to pass the house through inheritance ... Read More
- Q. In California. My grandmother lives in mother in law suite on uncles property and is bedridden. Can he ban us from visit
- A: He is not allowed to isolate the senior. This is a form of elder abuse.
Go to your local court house to find the restraining order clinic and they will help you get a restraining order to fix this.
- Q. Does my elderly mother need a will/living trust?
- A: The issue is whether we need to protect that money from long term health care. That is a crap shoot to some extent, so it depends on mom's age and health. But if it goes into an irrevocable trust and is in there 30 months then it becomes invisible to the government when they look to see if Medi-Cal will pay for her nursing care.
You are right about the Will issue, but I would still have her execute a simple one you can find on line.
