California residents seeking an easy way to leave assets to their heirs frequently select financial instruments that designate beneficiaries who will receive the assets if the owner dies. However, some people make the mistake of not looking at these designations after...
Bay Area Estate And Tax Planning Law Firm
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Learning about the survivor’s trust
Married couples in California can minimize estate taxes and gain more control over future disbursements of their assets by setting up an AB trust. This legal arrangement is common when the married couple’s estate value exceeds the remaining estate tax exemption. The...
Three estate planning-related matters to handle before passing away
Over time, California residents can spend their lives building up a long list of assets. Understandably, most people want their hard-earned assets to go to family members or friends after passing away. That's where the power of estate planning comes into the picture....
How to approach estate planning as a single person
Many people begin to think about estate planning when they get married or have children. However, estate planning is also an important step for people who choose to remain single should take. If you’re a California resident who chooses to enjoy the single life, be...
IRA designated beneficiaries in community property states
Individual retirement accounts allow people to put money aside for their golden years and reduce their tax bills. When an IRA account holder dies before reaching retirement in most states, the money in the account will pass to the beneficiary they have designated even...
Different types of trusts can meet varying financial goals
There are several types of trusts, each with a unique purpose. However, there are some general circumstances for California families in which establishing a trust may be the best option. If any of the following situations apply to you, you may want to consider...
What are the fiduciary duties of an executor in California?
A lot of responsibility goes into being the executor of a California estate. Oftentimes, it can be hard to decipher what all goes into being an executor - people rarely do it twice. What are fiduciary duties? Fiduciary duties are responsibilities that are passed on...
Learn the basics of estate planning
California estate planning usually starts with you creating a will that establishes what each beneficiary will receive from your estate as their inheritance. Wills help families avoid the confusion, anger and hurt feelings that might otherwise arise. An income-earning...
An Irrevocable Life Insurance Trust in California
A life insurance trust could be essential to a California estate plan. When someone purchases a life insurance policy, they likely hope the payout will help the beneficiaries deal with financial concerns after losing a supportive loved one. However, tax implications...
Finally dispelled: the most common myths about fiduciaries
Californians use a variety of financial advisors in an effort to leverage their money and limit their liabilities. Resources range from online and print publications to accountants and estate planning attorneys. However, not all financial advisors are looking out for...