You owe federal income tax wherever you live. But your overall tax burden can vary dramatically depending on where you live. Read the linked article by my friend and colleague Steve Hartnett, an estate planning expert, to learn more. Best Places to Retire: State Taxation … [Read more...]
Whom Do You Want to Get Your Assets?
Most of us have an idea whom we’d choose to receive our assets at our death. But often we don’t contemplate what should happen if the people whom we’ve selected die before us. Read the linked article by my friend and colleague Steve Hartnett, an estate planning expert, to learn more about contingent beneficiaries. Whom Do You Want to Get Your Assets? … [Read more...]
Joint Tenancy Pros and Cons
Joint tenancy is a commonly used form of ownership between two or more people. It can be an easy solution. However, it can have drawbacks. Read the linked article by my friend and colleague Steve Hartnett, an estate planning expert, to learn more. Joint Tenancy Pros and Cons … [Read more...]
Important Notice Regarding COVID-19
To our valued clients and friends, We sincerely hope everyone is taking care and following all of the recommended precautions during these unprecedented times. WE WANT YOU TO KNOW THAT DURING THIS TRYING PERIOD, WE ARE HERE FOR YOU. In light of recent governmental directives for most persons to "shelter in place", effective immediately, for the most part, our firm will operate remotely. Fortunately, we are experienced with remote workplace operations and have the appropriate technology to … [Read more...]
Planning for the Sandwich Generation
The Sandwich Generation is torn between caretaking responsibilities for their minor children and their elderly parents. But first, they need to make sure they take care of themselves. Read the linked article by my friend and colleague Steve Hartnett, an estate planning expert, to learn more. Planning for the Sandwich Generation … [Read more...]
Are All of these Estate Planning Documents Necessary?
Occasionally, a client will ask, “Do I really need all of these estate planning documents?” Usually, it’s rhetorical questions and a joke about trees, but we answer the question anyway. After all, estate planning attorneys like trees. The estate planning documents that your attorney will recommend will be based upon your concerns, finances, goals, and the law. The consequences of not having these documents are often harsh. While you may need advanced estate planning, the typical basic … [Read more...]
Why does My Estate Planning Attorney Need so Much Information?
Effective estate planning does require full disclosure. It involves the discussion of your private finances, personal life, personal goals as well as the topics of death, dying, and disability. If you’re like most people, you find these topics difficult to discuss, especially with someone outside of your family. An experienced and qualified estate planning attorney realizes this and will gently guide you. And, you will be relieved to discover that you gradually become more comfortable with … [Read more...]
Can I Disinherit My Spouse?
When you contemplate your estate plan, you typically focus on who you want to inherit your assets when you are gone. What happens though if there is someone you specifically do not want to inherit from your estate? More specifically, what happens if you want to cut your spouse out of your Will? Can you do that? Let's see how California treats an attempt to disinherit a spouse. Last Will and Testament Basics At its most basic, a Last Will and Testament is a legal document that communicates a … [Read more...]
Why Do I Need an Estate Plan?
If you have yet to create an estate plan, you likely have an explanation for why that is so. You may feel you don’t need one yet, either because you have yet to amass a sizeable fortune or because you have yet to settle down and start a family. The truth, however, is that every adult can benefit from estate planning. To help you better understand the importance of estate planning, let's explore why you need an estate plan. Ensuring that Your Wishes Are Honored Like many people, you may be … [Read more...]
Beware of Do-It-Yourself Legal Forms
In the modern digital age, almost any form can be located easily with just a few clicks of a mouse. Legal forms and kits are among the forms that can now be accessed rapidly and easily on the Internet. While it may be tempting to save a few dollars by using a do-it-yourself legal form, the ultimate cost could be much greater than the dollars you initially saved. It seems as though there is a legal form required for almost anything you do. From getting married to starting a business to estate … [Read more...]
