When California residents think about planning their estate, they often consider how to divide their assets and who will receive what. But there is another crucial aspect that sometimes gets overlooked, which is embracing diversity and inclusion. This means thinking...
Bay Area Estate And Tax Planning Law Firm
Bay Area Estates and Tax Law Blog
Using 529 accounts as estate planning tools
California residents may be able to avoid estate taxes by making gifts to an irrevocable trust during their lifetimes. However, by doing so, they lose control over the money, which may be problematic if they need it later in life. Fortunately, it may be possible to...
Incorporating life insurance in your estate planning
Estate planning in California is all about planning what will happen to your loved ones when you are no longer around to care for them. There is a strong correlation between getting life insurance and estate planning. Estate planning and life insurance When...
Some common estate planning mistakes
All California adults can benefit from having an estate plan. However, it’s natural for anyone starting out to make certain mistakes that can and should be avoided.. Not including a contingent beneficiary Most people have one person in mind to name as a beneficiary to...
Revocable and irrevocable beneficiaries in estate planning
When California residents create their estate plans, choosing the beneficiaries for their bank accounts, retirement accounts and insurance policies are some of the most important decisions they make. The funds in accounts with beneficiary designations are distributed...
Protecting your pets through estate planning
Estate planning in California can be complicated. Things like children, assets, home ownership, businesses and more can make it even more complex. Even pet ownership can add great headaches to the process. Overall, these are all things that must be considered while...
Accommodating your estate plan to reflect a blended family
Countless people in California are on their second or even third marriages. Often, this leads to blended families, which are becoming more and more common. While creating your estate plan, it’s important to take certain steps to accommodate your new family members....
Helpful ways to donate valuable heirlooms to your beneficiaries
Proper estate planning in California helps ensure someone can distribute wealth to their loved ones for generations. Splitting up the value of accounts can be simple enough. However, you'll quickly find that some assets aren't possible to split evenly. Fortunately,...
What fiduciary duties does an executor have in California?
Estate planning is a helpful way for those in California to put plans in motion that will ensure their loved ones are cared for when they are gone. A properly established estate helps ensure you pay your debts while leaving behind assets to your beneficiaries....
Discussing estate planning over the holidays
Holiday family gatherings in California present a good opportunity to talk to your loved ones about your estate plan. As everyone catches up on each other's lives, you can consider how to make arrangements that protect assets within the family, manage taxes or support...