Digital assets are becoming a significant part of life. They range from tangible assets like cryptocurrency to more personal ones like digital photos. In the context of estate planning in California, these assets can and should be considered in your estate plan. Doing...
Bay Area Estate And Tax Planning Law Firm
Estate Planning
Why millennials shouldn’t avoid estate planning
While many people in California understand that estate planning is essential for their lives, many millennials overlook it. Some studies have shown that a surprising number of millennials have failed to take steps to ensure that after they pass, their final wishes get...
Choosing an irrevocable trust’s trustee
If you're someone with substantial assets in California, at some point, you may want to consider creating an irrevocable trust. An irrevocable trust can shield your assets from certain taxes and ensure that your beneficiaries are well taken care of after your passing....
What small business owners should consider with estate planning
Small business owners in California should factor in their business when preparing their estate plan. This can make the ownership transition easier and the estate management more straightforward after their death. Proper planning can help minimize estate taxes and...
Embracing diversity and inclusion in your estate plan
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...
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...