With the 2016, large estate tax exemption of $5,450,000, most California estate plans now have no federal estate tax risks. But of increasing concern is how to avoid an increase in real property tax when California real property passes by gift or inheritance. Under the general rule, the assessed value of California real property is … Continue reading California Estate Plans and Property Tax Planning
People are often invested deeply in their charitable causes. Some give their money. Some donate their time. Some share their talent. To them, their charitable causes are an important part of who they are. It is important for such clients to discuss with their attorney whether they want that legacy to continue in their estate plan … Continue reading How to include your charitable causes in your living trust and estate plan
If you have pets, consider including them in your estate plan. In doing so, your documents can address: Who will take your pets if you die or become incompetent? Who will find them a good home? How will the costs of your pets be handled? Regarding who will take your pets or who will find … Continue reading Estate planning for pets
Due process and California law requires that your closest blood relatives* be notified by the person in charge of your estate if you died or became incompetent in each of these California contexts: If probate is required because you died without a will, your administrator must notify your heirs*, as your heirs are those who … Continue reading Your family tree: its due process importance in estate administration, trust administration, and conservatorships
Your living trust can provide that, after your death, wealth remains in trust for your child (or other intended beneficiary) to help with designated purposes. Well known examples of such purposes are health and education. But another purpose is help with buying a house. For example, your trust could provide that, after your death, the trustee may … Continue reading Trust inheritance provision to help your beneficiary buy a home