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Trying to decide how to leave your company to your children? One option to consider may be the "charitable bailout," which is a creative way to transfer ownership and help save on taxes.The way it works is that you create a charitable remainder trust, and you put your...
Everyone wants to control their fortunes, and there are many laws in California that allow people to leave their assets and possessions to the people and organizations they love. Some people do not have a living will to govern these desires, and when there's no will,...
When most people think about the assets in a trust, they consider monetary assets. Trusts can be used to pass money down to heirs while still retaining some control over that money. For instance, the trustee who administers the account could be instructed to pay out a...
Since an estate plan largely focuses on financial details, many people assume that it should be private. Just as it is not considered polite to ask someone how much they make in a year, family members do not want to pry into someone else's personal business. An...
You're 40 years old, in the middle of your life. You're married, you have two kids, and you have a good job. You recently bought your dream home in the suburbs. Life has played out exactly how you wanted it to, and you assume you have decades left to enjoy it.Is now...
It is critical to take your time when naming a trustee, picking someone you know will do a good job. Perhaps your first inclination is to pick one of your adult children. Maybe you have another relative that you can count on. Perhaps you want to use a professional. No...
You are trying to decide if it is wise to use a trust while doing your estate planning. You know how helpful they can be, but you just need to determine whether or not your specific situation means that you'll really enjoy all of the benefits.Do you own property in...
The sad passing of TV personality Anthony Bourdain has brought up some important estate planning questions that others may want to consider.Bourdain and his wife were still legally married when he died. They did not want to get a divorce, as they were focused on...
The executor for an estate is often charged with taking care of the bills and financial obligations of the estate when the person who owned it passes away. After all, even if that person worked hard to be up-to-date on the bills, there may be final payments for...
Estate planning is all about preparing for the future and making sure that your goals are met. However, good estate planning often takes time.If you're prepping for a session with your attorney, take a few moments and gather up what you'll need to make the process...