Probate in California can be avoided with the use of the small estates law. California does not require estates of $150,000 or less to be probated. The assets can be collected forty days after death with a declaration or affidavit signed under penalty of perjury. The small estates law does not require documents to be filed with the Superior Court.
Trusts are very beneficial for estate owners to create. They leave you with peace of mind that your family will be able to inherit your estate. There’s different trusts available today. Each are beneficial to estate planning, income taxes, and for protecting your assets. (more…)
Meeting the person you’d like to spend the rest of your life with in a second marriage is a joyous occasion. Often, one or each person has children from a previous marriage or relationship. In a blended family, the responsibility to take care of the children falls on both parents and the new spouse in many cases. When you have an estate to settle between the both of you and your blended children, California families need to plan for the future. (more…)
A Qualified Domestic trust is also known as the QDOT, or QDT, and enables a non-U.S. citizen spouse of a U.S. citizen to qualify for an unlimited marital deduction. This prevents the survivor from keeping the estate from being subject to federal taxes. (more…)
Estate planning is overwhelming and many individuals put it off for too long. Once a catastrophe happens it may already be too late. It is important to have the basics set up and revisions can always be made later. There are three essentials. (more…)
Estate planning involves a transfer of wealth in families between generations. This is often a contentious and complicated process because no one relishes speaking of their own death, and how to disseminate their personal property among loved ones. This leads parents to make these decisions without involving their children or heirs so as not to burden them with such a morose topic, but this causes confusion, disputes and litigation against other family members and even personal attorneys. (more…)
Starting the estate planning process now can be one of the best gifts you can give your family. You are saving them considerable time and stress, as well as protecting your assets. (more…)
All of your belongings constitute your “estate.” These include your portable belongings (i.e. clothing, automobiles and cash) and your fixed property (i.e. land). When you die, all of your belongings will be placed in an estate for distribution. Therefore, you might want to contact a Palm Springs estate planning attorney to ensure that your children have a positive future. (more…)
When a loved one dies, you will naturally go through a lot of emotions. You probably don’t have the emotional fortitude or legal background to deal with all of the issues, which may arise during the probate process of asset distribution. This is when a Coachella Valley trust litigation attorney can be essential. (more…)
As the new year approaches, now would be a good time to revisit your local Palm Springs estate planning attorney to update the details of your will or trust. Some things to consider when updating your estate plan include: (more…)