Bay Area Estates and Tax Law Blog

It’s quite likely that most divorcing California residents will want to secure help from an experienced family law attorney. After all, there is often a lot to think about and manage when a marriage comes to an end, ranging from child-centric matters (e.g., custody and support) to marital asset distribution.

The role of proven legal counsel in that process can be centrally important. Notably, too, the same is often true concerning the input of another professional. We duly note on our website at the Bay Area Law Offices of Connie Yi that “if you are divorcing, be certain your divorce attorney is not the only attorney you receive legal advice from.”

Trying to create a conflict-free estate plan is difficult, and it's not just the plan you have to think about. Sure, it is important to avoid potential conflicts over issues like unequal bequests or the division of sentimental assets, and you need to keep that in mind when drafting your plan. But it also goes beyond that.

What you really need to think about is why adult children don't get along with each other in the first place. The family dynamics are very important. Often, these conflicts really come to a head during the estate administration process, but that does not mean they're new. They could have been lurking beneath the surface or even overtly influencing your heirs' relationships for years. They just become more obvious when there is money on the line.

We spotlighted the ABLE program in our previous blog post. We noted in our December 11 entry that this federal government initiative can provide valuable benefits for disabled individuals and their families.

ABLE does so by enabling eligible claimants to make non-deductible contributions into accounts that let them grow tax-free. Account holders can apply distributions from savings vehicles (also without tax consequences) toward a wide-ranging list of so-called “qualified disability expenses.”

We alluded to year-end resolutions in our immediately preceding blog post, noting in our November 27 entry that many good-faith planners resolutely try "to stay on top of important things in life."

We get that many individuals and families find that hard to do when it comes to estate planning. The age-old perception that the subject matter is simply for "old" and relatively well-heeled people and all about death and taxes can be hard to shake.