Bay Area Estate And Tax Planning Law Firm
Most people fully fund trusts when they initially create them. They promptly transfer financial accounts, real property and other valuable resources to the trust as funding. The trust then owns and controls those resources, giving the trustor protection and increased...
When you leave assets to beneficiaries, they are known as bequests. In many cases, people will write their estate plan so that all of the bequests are relatively equal. Adult children may share ownership of real estate property, for example, or a parent may split up...
Adults establishing estate plans often choose between wills or trusts as their primary testamentary instruments. For some people, both documents can be beneficial. Trusts are helpful for people concerned about costly estate taxes, disputes among beneficiaries or...
Adults should have a valid estate plan that outlines their wishes for their assets when they pass away. When they don’t have one, they die intestate, which means that their assets are handled based on the state’s intestate succession laws. In California, intestate...
When creating your will, you’ve carefully chosen who should inherit your home, your savings or a family heirloom everyone quietly covets. However, even the most well-thought-out will can fall apart if someone decides to challenge it. Many people turn to a no-contest...
A will serves an important legal purpose. The instructions included in a will establish the testator's legacy after they die. Wills may include information about what beneficiaries should inherit from an estate. Wills also empower certain people to serve as personal...
Creating a will means planning ahead to avoid family disputes. A no-contest clause, although it seems straightforward, is a complicated legal tool that can either help enforce your wishes or unintentionally cause disagreements. Discouraging legal disputes and ensuring...
When experiencing a major health change, people are more likely to focus on their treatment, recovery and adjustment to their new normal. While it is natural to prioritize health, updating your will is equally important. In general, a will remains valid until you...
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...
Creating an estate plan can help California residents to prepare their estates for the future and protect their beneficiaries. However, it’s important not to make these mistakes when updating your estate plan documents. Forgetting to review your will A huge mistake...