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High net worth clients have many different options of how to distribute their wealth to their beneficiaries. Some might choose to simply leave money outright to their daughters and sons in their will as direct cash disbursements. However, it is often a good idea to...
Every couple has different levels of income and different portfolios of material assets. Those with lower levels may presume that they don't really need to do estate planning, since they have less to distribute. However, it is important for couples and individuals at...
Trustee fees are typically paid out to someone who does the work on the behalf of a person who wants to make sure that their assets are distributed correctly. This can be a long and complicated process, depending on the complexity of the situation, and it is also...
The very word "estate" has historically been associated with those who are wealthy. However, this association is a relic of previous eras. In the 21st century, it is valuable for everyone to take care of estate planning for a variety of good reasons. Many couples are...
A woman in California was hoping to leave her money to her church when she passed away. She was around standard retirement age, but she did not have any children who would get the money as heirs. However, she had not done any estate planning, and had no official...
When a California resident dies without having created a will, his or her family will have to deal with probate. Probate is a complex legal process through which a deceased person's debts are paid and assets are distributed. The person's assets are distributed...
Many Americans haven't thought about creating an estate plan despite the numerous benefits they offer to you and your family. Individuals in San Diego should consider creating an estate plan to address what will happen to their assets, their end-of-life care and...
Without swift action by U.S. Congress, on January 1, 2013, the federal estate tax exemption would have reverted to $1 million with a 55% top rate. However, effective immediately every person may leave or give away up to $5.12 million without owing any estate tax. The...
One of the most exciting changes to the California Probate Code for 2012 is the increase in the estate value threshold of formal probate proceedings from $100,000 to $150,000. Additionally, the real property threshold increased from $20,000 to $50,000. Smaller estates...
One of the most commonly asked questions amongst my estate planning clients is, "should I add my adult child to my bank account?" Although it might seem like a good planning idea in the event you have an accident or other incapacitating event, my answer is generally...