A will is a key document in an estate plan. A will allows a testator to decide how their estate is managed after they pass away. If a person passes away without writing a valid will, then they are said to have died intestate. Intestacy can create many problems for...
Without an estate plan, California courts will decide what happens to your children and your assets. This fact usually motivates people to act, yet you might still find yourself delaying the process without proper guidance on how to start. Thankfully, being properly...
People who are creating an estate plan must ensure that everything in the plan reflects their wishes. One of the challenges that comes with doing this is balancing those wishes with the most effective ways to get those assets to the beneficiaries. In some cases,...
Large estates that contain millions of dollars’ worth of assets are potentially subject to major tax obligations. Once the total value of the estate reaches $13.99 million, as of 2025, the estate may be responsible for federal estate taxes. The federal estate tax is a...
A family limited partnership (FLP) can be a valuable tool for families who own assets or a business together. When set up the right way, it helps protect your family's wealth and makes it easier to pass things on to the next generation. While FLPs can sometimes help...
Did you know that you can update your estate plan? Altering your estate plan may be a crucial step to protect your legacy. On average, people should consider updating their estate plan every three to five years. However, you may need to update your estate plan after...
Inheriting money from your parents brings both good things and tax questions. California doesn't take any tax from your inheritance, but the federal government might if the estate is worth over a certain amount. Many people get confused about which tax rules apply...
Yes. If you own a business, you need an estate plan to avoid delays, tax exposure or leadership gaps. Without one, your company may face probate, which can disrupt operations and create legal uncertainty. How your business changes estate planning Business assets –...
Many adults have debts throughout their adulthood. One question many don’t think about is what’s going to happen to those debts when they die. If you have any debts, including ones such as credit card bills or mortgages, your estate will likely be the entity to handle...
Thanks to a new law that just took effect this April, more California estate assets can be excluded from probate even if they aren’t placed in a revocable living trust or other steps aren’t taken to avoid the sometimes lengthy and costly process. In California,...