2010 Form 8939 is Due Nov. 15; Reporting Option Applies to Many Large Estates
The delays inherent in all California probates and conservatorships may soon become much worse due to projected cutbacks in court funding.
Historically, the first available probate court hearing date is four to six weeks in the future. According to what court personnel are saying now, that four to six week “wait” may become much worse as upcoming budget cuts hit the California courts.
The importance of avoiding these court delays in probate and conservatorships is one of many reasons why it is so important (a) to prepare (or update) a living trust, durable general power of attorney, advance health care directive, pour over will, and whatever other estate planning documents are proper for your situation and (b) to title your assets properly and (c) to have proper beneficiary designations on those of your assets distributed on death by beneficiary forms (such as IRAs, 401(k), life insurance, annuities, etc).
copyright James J. Phillips 2011
Index of past posts:
New, portability of unused estate tax exemption for married couples offers simple “2 for 1” plans. July 16, 2011
Randal Dutra lecture on October 8, 2011 June 7, 2011
Medi-Cal Payment of Long Term Care in California May 13, 2011
Ingredients for trust planning May 10, 2011
Will there be estate tax due when I die? May 10, 2011
Top 10: Do You Need to Update Your Trust or Will? March 25, 2011
How to Choose a Nursing Home March 18, 2011
Selecting A Trustee for Your Living Trust March 18, 2011