Have you ever wondered what happens to someone’s estate if they die before they make an estate plan? Something still has to be done with all of their assets, and state law is responsible for determining exactly what procedures should be followed. If someone passes...
Incorporating charitable giving into your estate plan is a powerful way to leave a legacy that reflects your values, supports causes you care about and makes a lasting impact on the world. For many people in California, the process of estate planning offers an...
If you own a business in California, including it in your estate plan is vital. Planning ahead protects your hard work, avoids costly delays and gives your loved ones peace of mind. Here are three popular options for handling your business in your estate plan. 1. Set...
You drafted your estate plan years ago, but now you are doing an update and reviewing your decisions. Specifically, there is one child you initially included who has developed problematic spending habits. You are worried that they are just going to waste the...
If you own your home free of a mortgage, that’s likely one of the most valuable single assets you have to pass down to your loved ones when you’re gone. Maybe you have your family home as well as a vacation home or rental property. These could have a combined (and...
When planning for the future, individuals and families often seek ways to minimize their tax liabilities. Understanding the difference between tax avoidance and tax evasion can help those interested in minimizing their tax burdens and the tax burdens on their heirs to...
You’re trying to pass assets on to the next generation without having to pay inheritance taxes. You’d like to do this in advance to reduce the size of your estate. Unfortunately, you know that you are only allowed to gift assets with a value of up to $17,000 per year...
Estate planning is an important process for married couples. This effort helps ensure that assets are protected and distributed according to a couple’s wishes. With that being said, many couples assume that a joint estate plan is sufficient. In reality, spouses often...
Owning property or other assets in multiple states can complicate your estate plan. However, with the right approach, you can protect your loved ones from unnecessary burdens after you’re gone. Every state has its own laws for handling property after death, making it...
Effective estate planning is about more than just deciding who inherits your assets; it’s also about minimizing tax burdens on your loved ones. Legal tax avoidance strategies can help preserve the wealth you’ve worked hard to build while better ensuring that your...