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...
Older adults thinking about their legacies often try to limit their future tax obligations. Making regular gifts to family members and other beneficiaries can be an important part of that strategy. By making gifts while still alive, older adults can watch their...
Estate planning has an emotional side. You may experience different emotions during this time, as you will need to confront mortality, accept the fact that you might become incapacitated and address financial concerns. Estate planning can also bring up unresolved or...
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...
Wealth brings many rewards, but it also brings unique challenges when it comes to privacy and legacy. For families with substantial assets, the standard estate process can feel uncomfortably public and drawn out. No one wants their private affairs laid bare in a...
If you are thinking about the future of your wealth and how to pass it on, estate taxes might be one of your biggest concerns. These taxes can take a major bite out of what you hope to leave behind for your loved ones. One lesser-known smart planning tool that can...
Setting up a charitable remainder trust (CRT) sounds like a generous act. You are pledging to give what is left of your assets to charity, all while receiving income during your lifetime. It feels like a win-win. But for some, the biggest motivation is not always...
Estate planning isn’t just about legal documents and distribution strategies—it’s also about finding ways to transfer wealth to the next generation harmoniously. Yet, for many families, talking about money, death and the future can feel awkward or even taboo. Whether...
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...
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...