After the death of an estate owner, the estate is taxed whenever the property is transferred. In order to limit estate taxes, the individual can give gifts prior to death. There are several things you should know regarding how gifts are taxed according to estate tax law. Continue reading
Tag Archives: Estate Planning
What is Probate?
The term ‘probate’ means ‘proof.’ The term probate in the legal system is proof that the will is ironclad in a court of law. A separate court, called probate court, examines the will to determine how ironclad it is. Strong wills divide assets based on what the deceased wanted. Wills with loopholes, no wills, or wills that excludes assets will follow the rules based on state probate laws. Continue reading
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. Continue reading
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. Continue reading
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. Continue reading
With a wide array of resources to help every client, a reputable Palm Springs estate planning attorney will be able to draw up a complete estate plan for your situation. With a commitment to handle all cases with pristine care, there is no stone unturned to be certain of proper representation of all estate planning and probate needs. Continue reading
Name one family who wants to go through the probate process? No matter how close your family is, going through a probate process can lead to great family conflicts. These battles can multiply and persist for long periods. It does not matter whether it is contesting a will or executing the specifications a will. Ultimately, to prevail and to sort these matters swiftly, you need to seek the services of a probate attorney. Continue reading
Estate planning is an essential decision in your life. It ensures that your spouse and siblings are protected after your death. Continue reading
As our population ages, people are living longer and this will change the landscape of estate planning. Baby boomers’ responsibilities now go beyond their own retirement. With both baby boomers and their parents in retirement, boomers must consider their parents’ welfare, too. This requires planning today and into the future. Some points to focus on are end-of-life choices and what happens to an estate in the event of a death. Continue reading