WAEstate

The basic purpose of estate planning is to prepare for the possibility of incapacity and for death.  Your estate plan can include various types of estate planning tools, including trusts and wills. The variety of estate planning strategies that are available allows you to customize a comprehensive estate plan to fit your needs.  This article will explain what experienced estate planning attorneys know about trusts and wills. Everyone can use a will or trust, not just the wealthy Many clients … [Read more...]

Five days after a hit-and-run accident on Vaca Valley Parkway, a bicyclist has been released from the hospital. He was riding his bicycle when a young woman ran a stop sign on Crystal Springs Drive and struck him. The victim sustained contusions and road rash, which he believed were the extent of his injuries.  However, after returning home and taking a shower, he soon realized he was having trouble breathing. When he returned to the hospital, he was diagnosed with post-traumatic respiratory … [Read more...]

One of the main concerns for most clients, when it comes to estate planning, is the issue of federal estate tax, commonly referred to as the "death tax". Indeed, for most people the primary goal of estate planning is to decrease or eliminate estate taxes as much as possible. While California estate taxes are no longer imposed, the federal estate tax remains. The federal estate tax rate is currently 40%. However, there is an estate tax exemption that excludes most people from paying estate … [Read more...]

A trust can be a very useful estate planning tool, particularly because they can help you to minimize estate taxes and possibly avoid probate. Trusts are essentially fiduciary agreements, meaning they are built on trust and confidence, between the grantor (the person making the trust) and the trustee. The trust agreement gives the trustee the authority to manage the trust assets, including distributing the trust assets to the named beneficiaries as instructed by the trust document. There are … [Read more...]

You may not be aware of this, but  certain wartime veterans who have 90 days of active duty, one day of which began or ended during a period of war, is eligible for Veterans Aid & Attendance benefits.  Surviving spouses who were married at the time of the veteran’s death may also be eligible.  There are certain financial and medical qualifications that may apply.  Here is what you need to know. Medical qualifications for Veterans Aid & Attendance benefits In order to qualify medically … [Read more...]

Trusts are one of many important tools that can be included in an overall estate plan. A discretionary trust is a particular type of trust that provides the trustee with broad discretion regarding how the trust property is managed and distributed. Unlike a fixed trust, beneficiaries of a discretionary trust can only receive distributions from the trust property when the trustee exercises his or her discretion to do so. So, if you are trying to determine what type of trust you need, let a trust … [Read more...]

In many cases, when a parent dies the family is not quite sure what needs to be done legally, to handle their assets. For most, one of the children has been named executor of a will left by a parent.  Here you can find a step-by-step guide to handling your parent’s estate after their death.  It is still a good idea to consult with an estate planning attorney to make sure you have everything covered. The first few days following your parent's death Before you can really start taking official … [Read more...]

The death of a loved one is always a huge blow to families.  But, when that death is the result of an unexpected accident, the loss should also remind us of the need to have an estate plan in place.  The time to begin your estate planning is now. Freak accident at Yosemite National Park Destiny Borges was a young woman who was working for a retail company that contracted with Aramark Yosemite Hospitality. While working in an area of the park called Half Dome Village, Destiny was unexpectedly … [Read more...]

One of the primary benefits of a trust is that the assets you include in the trust will likely avoid the probate process. There are different types of trusts, so you should discuss your options with your estate planning attorney first.  A testamentary trust is a very common type of trust that is included in a will and does not go into effect until the person who created it dies.  Here is what you need to know. Understanding a testamentary trust A testamentary trust is simply a trust that is … [Read more...]

Many clients do not realize that a divorce can have significant effects on estate planning.  Whether you already have an estate plan in place or you need to start working on one, your estate planning attorneys can explain how a divorce will change your goals.  While divorce is certainly stressful and difficult for most, it is still important to address any potential estate planning issues that may arise.  Here is what you need to know to protect yourself and your estate if your marriage is … [Read more...]