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
Bay Area Estates and Tax Law Blog
How to avoid mistakes when filing a California small estate affidavit
One way to quickly and efficiently transfer inherited property in California is by using the state's small estate affidavit. If you are the heir to a loved one's estate, it’s best to begin filing such an affidavit as soon as possible. Small estates This affidavit was...
The cost of setting up a trust
Many California residents want to set up a trust for estate planning purposes. However, others who would like to set up a trust do not do it because they are worried that the expense of doing so is more than they can afford. Here are some facts about setting up a...
Estate planning is essential when you operate a tech startup
If you're a tech entrepreneur in California operating a startup, utilizing estate planning is essential. Doing so protects your assets, clarifies who will run your company if you die, protects employees and helps reduce taxes. Creating an estate plan offers...
FLPs and LLCs discount asset values to reduce estate taxation
Affluent families in California have a strong interest in reducing their tax obligations through estate planning. A couple or a family could form a family limited partnership (FLP) or limited liability company (LLC) to manage estate gifts and asset transfers in a...
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...
What it means to be a fiduciary
A fiduciary is an individual legally bound to act in the best interests of another party, known as the principal. You probably already know that your California physician cannot disclose confidential information about your medical history without your permission....
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...
Emergency financial files in estate planning
In California, and everywhere else, financial chaos can occur after the death of a loved one, even when a sound estate plan is in place. This scenario includes not knowing what financial and credit accounts were in the deceased's name, plus login and password...