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A bill that would allow homeowners to specify who they want their houses to go to once they are deceased was passed on March 17 by the California Assembly Judiciary Committee. The vote was unanimous with a count of 9-0.The bill, which is known as Assembly Bill 139,...
When writing out wills in California, it is important to sit down with the people being mentioned in the will to find out what they really want. Remember, the will is about making sure that your assets are distributed as you would like them to be, but you are not...
A special needs trust is a type of trust that is set up to specifically handle the needs of a beneficiary that is considered disabled or mentally ill. It is similar to a regular trust and is managed by a person called a "trustee." The person that benefits from the...
An inter vivos trust, or rather, a living trust, is an arrangement created by an individual while he or she is still living that allows his or her affairs to be managed by someone else. An inter vivos trust is somewhat similar to how the contents of a will are...
A will is a document that states an individual's wishes once he or she has passed away. It is seen by the courts as the voice of the person who wrote the will. This person is known as the testator. Although it is considered difficult for someone to challenge a will,...
Estate planning is a complex process with a wide array of options to consider. Most people approaching it share one goal in common: to maximize the value of their estate for themselves and those to whom they bequeath it, while minimizing its administrative costs and...
A key part of managing assets is often setting up a trust. The process can be overwhelming, but when professional advice is secured earlier, it makes things easier for all involved. If you're currently making plans for managing your wealth, it will help if you follow...
According to the estate plan set up by Joan Rivers through her will, she was officially a resident of New York before she passed away. That would mean that the laws in New York would usually have to apply to her estate, and it would be taxed at a full 16 percent....
When doing estate planning in California, much of the focus is going to be on setting up a plan so that money is distributed at the right time to the right people. This is often done with a trust. There will also be some focus on how this can help from a tax...
Some people in California skip out on creating an estate plan for the simple reason that they do not like to think about passing away. It is a difficult and sometimes uncomfortable subject. However, an estate plan can be a significant help to your heirs, so it is...