Articles
Significant Proposed Estate Planning Changes Seem to Be Disappearing
When you closely monitor estate planning changes for almost 20 years you learn to not overreact. There seems to always be a significant proposed change in the law that may affect estate planning. 2021 was no exception. Three major proposed changes were included in President Biden’s Build Back Better plan: Reducing the estate tax… Read More »
Proposition 13 and Proposition 19 Property Tax Planning
With the approval of California’s Proposition 19, the ability to transfer your home or other real property to your children without property tax reassessment will be significantly reduced. The new law will apply to all transfers of real property on or after February 16, 2021. The time to plan is now. Read more about… Read More »
What is the Main Purpose of Estate Planning?
One of the main purposes for estate planning is probate avoidance. Let’s breakdown those terms a bit further. Let’s start with what is estate planning. What is Estate Planning? Estate planning refers to the planning of your “estate.” Your “estate” refers to the assets you own during your lifetime or at death. What is… Read More »
What does Estate Planning Mean?
Estate Planning is a general term to describe the planning, administration and distribution of your assets during incapacity or death. The term “estate” is often confused to refer to a large home or someone with a large amount of assets. But an estate is simply the assets you own at any given point in… Read More »
What Are the Disadvantages of a Trust?
Complicated and Difficult to Understand One of the disadvantages of a Trust are that Trusts are very difficult to understand. Historically, trusts used language that was specific to the legal field. For those that were not trust and estate lawyers, it was almost impossible to understand. To make things more complicated, trusts often use… Read More »
How do I do Estate Planning?
Completing your Estate Planning falls into four general categories: 1) Do It Yourself; 2) online generated forms; 3) paralegals and lawyers with a general legal practice; and 4) Estate Planning Specialists. As you can imagine, the initial cost increases as the level of expertise goes up. The total cost to you and your family… Read More »
Three Alternatives to Creating a Trust
You may have heard that you should create a Trust to avoid probate. But you may have also heard there are other ways to avoid probate that are cheaper. Let’s review the three most common options in more detail. Adding Someone to Title as Joint Owner or Joint Tenant You can add another person… Read More »
How Much Does Estate Planning Cost?
So you have decided it is time to set up your estate plan. One of the first questions you will likely research is “how much does estate planning cost?” Like you, we are also consumers of goods and services, and in order to make an educated purchase, price is often an important factor to… Read More »
How Do I Avoid Probate in California?
You may have heard that you want to avoid probate in California at all costs. Perhaps you know someone that has gone through the lengthy and costly probate process in California in the past. Dealing with the loss of a loved one, friend or family member is hard enough, the probate process can make… Read More »
Coronavirus and Estate Planning
Estate Planning During the Coronavirus With the current Coronavirus pandemic, estate planning is at the top of mind for many Americans. The United States has become the world’s epicenter for the Coronavirus. While fear and inactivity may be a natural reaction, it is also an opportunity to plan. Whether or not you are in… Read More »
