"We need to talk."
In California, there must be at least two witnesses to a signed will. The stipulations however vary from state to state, for example, Vermont requires three witnesses.
Just consider for a moment who's sitting on the other side of the table from you if you're cloistered in a room with an Internal Revenue Service employee undergoing a tax examination.
It is a will that "pours-over" assets into a trust. It's often used with a living trust.
Acronyms authored by or otherwise linked with the U.S. Internal Revenue Service tend to immediately strike a good many Americans with fear.
Many parents and grandparents want to help their children and grandchildren out financially and not have to put the money into a trust for later use.
The good news is this number just went up. Currently you can give away $14,000 per individual per year and not pay gift tax penalties.
Here's a central reality regarding trust administration in California and across the United States: Individuals who establish trust vehicles (such persons are often termed trustors or settlers) as planning tools intended to benefit others often appoint trust administrators without sufficiently considering their estate-related acumen and ability to properly manage the trust.
"A deterrent effect" and a signal "that fraud will not be tolerated."
Wills are an essential part of estate planning. A clearly written, comprehensive will can certainly relive grieving family members of confusion and misunderstandings. But what happens after the will is drafted and then changed due to the influence of a loved one, family member or caretaker?
Over the last few years, multiple U.S. companies have come under heavy criticism by federal officials for their reliance on elaborate tax-savings strategies, such as inversions. For those unfamiliar with inversions, they involve U.S.-based companies merging with companies located in tax-friendly nations, and subsequently establishing their new corporate headquarters there in a bid to escape corporate income taxes in the U.S.
If you are nearing retirement and have been saving diligently, the time is come to enjoy the fruits of your labor. Of course, you deserve the benefit of tax deferred savings, but the federal government may be just as interested in your money if you don’t withdraw it.
While many people envision San Francisco as a primary destination for tech companies and one of America's most thriving metropolitan areas, this wasn't necessarily the case just a few years ago. Indeed, during the height of the recent recession the city saw an unemployment rate close to 10 percent.
California's 2016 ballot is shaping up to be very interesting, as voters will be asked to decide everything from whether proposed legislation should be published online for at least 72 hours before state lawmakers can vote to whether to legalize the sale and use of marijuana for recreational purposes.
Now that summer is here, many parents are wondering how to keep their children active and productive. For older teenagers, the answer may be to get a summer job. There are many benefits to seasonal work, including earning spending money and getting an introduction into adult responsibility.