Virtually any ongoing source of estate planning information -- including our blog at the long-tenured Bay Area Law Offices of Connie Yi -- will occasionally restate a fundamental point concerning the planning community.That point stresses a common misconception shared...
Estate And Tax Planning Law Firm
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How can you enhance a trust’s already impressive flexibility?
Regular readers of our blogs in the Bay Area and across California know that we strongly endorse the clear utility of tailored and well-drafted trusts at the Pleasanton Law Offices of Connie Yi. We note on our established firm’s website that, “Trusts can...
Choosing a guardian? Ask these questions
The most important thing you do with your estate plan, many would argue, is to pick a guardian for your children.After all, they're worth more to you than anything you own. Yes, you want things to go smoothly in a financial sense. You want your assets to get passed on...
Let’s see now, which child should I pick to administer the estate?
Michelle Herting is a California business adviser and writer on estate planning topics. She makes two quick child-centric points in a recently penned article that are relevant to the planning process. We note them immediately below for readers.The first is this: A...
When does it morph from tax avoidance to tax evasion?
One is lawful. The other can yield a lengthy prison term and financial penalties of a staggering degree. The former is part of a strategy that is both recommended and implemented by proven estate planning attorneys. The latter is a flat taboo that none of those...
Trusts vs. wills: typically not a one-or-the-other proposition
We’ll get straight to the point regarding subject matter that we introduced in our immediately preceding blog post (please see our September 6 entry).That point is this: In the estate planning realm, wills and trusts play distinctive roles that, while different,...
Wills and trusts complementary, not at cross-purposes
So, what’s it going to be, a will or a trust?Or maybe both. Financial writer and researcher Bob Carlson recently wrote an article for Forbes on that specific question.His bottom line is this: Both of those tools are centrally important in estate planning and...
Estate disputes, retirement and a lack of savings
A lot of estate disputes are really financial matters. One child doesn't get as much as another and disputes it. Another child doesn't get as much as expected and disputes that. Still another doesn't like that so much money went to charity and thinks it should have...
What are some of the many key reasons for setting up a trust?
A financial planner notes in a recent Forbes piece that, rather than being an anomaly, trusts are common fixtures in the plans he creates for clients. In fact, states Rob Clarfeld, it is unusual for him "not to recommend incorporating one or more trusts" in the work...
Insider’s view: forgoing attorney to self-draft will not smart
An estate planning insider recently writing on that topic for Forbes sought to underscore a point on self-drafted wills by making an analogy to an electrician.Christine Fletcher notes in her piece that she, like legions of other do-it-yourself types across the...