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...
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,...
When making an estate plan, you may have a beneficiary that you want to leave a significant inheritance to, but you feel that it is not the right time. It would be better if you could delay it until they were a bit older. For example, perhaps you have a child who is...
If you plan to transfer a business, home or other major assets to your children in California, you must complete certain legal and tax steps. These steps differ by asset type and help you avoid penalties, delays or misunderstandings during the process. Transferring...
There are a lot of options to consider when estate planning for passing on your assets to loved ones and other beneficiaries. A key goal of estate planning for most people is to get their assets into people’s hands in a timely and cost-effective way when they pass...
We’ve talked here before about the importance of putting an advance health care directive in place and naming a health care agent as part of your estate planning. This can help ensure that your wishes for end-of-life care are known and followed if you suffer a...
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...
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...
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...