Estate tax laws can be complex, and they vary from state to state. In California, understanding how these laws work is important for those with significant assets. Estate tax basics Estate taxes apply to the transfer of property after a person's passing. However, it...
Estate Planning
How does a power of attorney work?
You can take control of your financial and medical future by establishing a power of attorney. This legal document allows someone else to make important decisions on your behalf when you are unable to do so. Knowing how a power of attorney works in California can help...
Revisiting your California estate plan amid divorce
A California divorce changes many aspects of your life, including your financial and legal affairs. During divorce proceedings, many people in your shoes overlook the need to update their estate plans. Your estate plan outlines what will happen to your finances and...
What to include in a basic California estate plan
Creating an estate plan helps ensure that your assets undergo distribution in line with your wishes after your death. Otherwise, the responsibility of figuring out what to do with your assets falls upon your home state. In California, a basic estate plan includes...
Making trust decisions
Trusts play a key role in managing and distributing assets, offering two main options: revocable and irrevocable trusts. Understanding the benefits of each and the factors to consider can aid you in making informed decisions about estate planning. Revocable trusts...
5 mistakes to avoid when writing a will in California
Crafting a will is a critical process, one that demands thoughtful consideration and attention to detail. A well-written will can help carry out your wishes after your death, providing peace of mind for both you and your loved ones. As you set about writing your will...
How can you talk to your elderly parents about estate planning?
One of the topics you may hesitate to discuss with your aging parents is what may happen to their assets and property after they die. Trying to find the right time and method of discussing this sensitive subject is important. Learning more about how to talk about this...
Do you need advanced directives in your estate plan?
In the realm of estate planning, you can achieve peace of mind from knowing others will respect your healthcare wishes even if you become incapacitated. This assurance comes through advanced directives. You might wonder if you need these legal tools as part of your...
Does estate planning take longer for those with a high net worth?
Estate planning is a crucial process that individuals undertake to ensure the orderly distribution of their assets and protect their loved ones' financial future. However, for individuals with high net worth, the complexity and scope of estate planning can pose unique...
Trusts and SSI benefits
When creating a trust, you need to take various factors into consideration, such as going over different types of trusts and the pros and cons of each option. If you receive supplemental security income (SSI) or plan on applying for SSI in the future, it is important...