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...
Administering an estate entails legal responsibilities that require careful attention to detail. While social media is a common way to share life updates, posting about estate matters can lead to legal and personal complications that are best avoided. Ultimately,...
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...
Many business owners would like to see their children take ownership of the family business when they retire or die, but it can sometimes be complicated. Cases of business owners being so concerned about the future of the company that they even delay making vital...
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...
You want your business to last as you pass it down to the next generation. It’s not just about your legacy—you know that the business can be a significant asset that provides income for your family for decades after you’re gone. As such, it’s important to identify...
There are many reasons why Californians shouldn’t just put an estate plan in place and forget about it. Although crafting an estate plan is a crucial step toward protecting your loved ones and your legacy that far too many people neglect, it’s not typically a...