What Does It Mean to Say Something is a Step Up in Basis?

When you pass something on to your heirs, it’s smart to think about the possible tax consequences well in advance. Step-up in basis is one of the least commonly understood aspects of tax considerations relevant for real estate investors. If you intend to pass on real estate assets to your beneficiaries, the step-up in basis… Read More »

Don’t Forget All Assets When Creating an Estate Plan

It’s all too easy to sit down with your team of professionals or try to plan your estate on your own while thinking only about the assets that create monthly statements, like mutual funds, stocks, and bank accounts. However, in most estate planning situations, these illiquid assets represent less than half of a person’s portfolio…. Read More »

What Happens to My Community Property When I Die?

There are many different important facets in estate planning to consider as you create your own plan. A common question presented to our Pasadena estate planning attorneys is what qualifies as community property and how is this classified when you pass away. Community property in the state of California refers to any property acquired during… Read More »

Why You Can’t Stop at Thinking Just About the End

The most common reason for putting together an estate plan is to have some clarity and control over what happens to your assets after you pass away. However, it’s equally important to think about what you want your own future to look like. You cannot afford to neglect the process of elder law planning, Medicaid… Read More »

Is Estate Planning the Same Thing as Elder Law Planning?

One of the most common questions presented at the office of our California estate planning lawyers is whether or not elder law and estate law are the same thing. In many cases, people sitting down with our Pasadena estate planning attorneys are hoping to accomplish goals, both in relation to elder law and to estate… Read More »

Evaluating Senior Housing Options for a Loved One

Helping a parent move out of their own home and comfortable surroundings can seem very intimidating, especially if they are making a transition into senior housing. This is a difficult decision financially, physically and emotionally. Declining health, safety issues, family concerns about a person’s well-being or the death of a spouse can all be some… Read More »

Are You Going to Struggle with the Long-Term Care Dilemma?

A bigger portion of the population is aging today that has affected society in years past. As our population gets older, more people confront elder law related issues, whether it’s directly in your own home or caring for your aging parents. One of the biggest problems with these elder law concerns is the ability to… Read More »

Do I Need a Charitable Remainder Trust or a Revocable Living Trust?

There are many different types of trusts on the market today and the ones recommended to you by our Pasadena estate planning lawyers will depend based on your individual desires as far as what you hope to accomplish with putting property inside the trust. A charitable remainder trust is a tool that enables you to… Read More »

How Long Does an Estate Plan Last?

When it comes to topics around morbidity, it’s easy to want to approach it as a once-and-done activity. You meet with your life insurance agent, fill out the application and attend any medical screenings, and then file that policy away for the long haul. You might review the brochure from a funeral or memorial business… Read More »

Should You Let Your Business Leaders Choose Their Replacements?

One of the reasons that business succession planning is often ignored or overlooked is that it involves so many different steps to ensure your company is set up for success after you leave. From deciding your vision and goals to verifying the right people are in place to providing training to those people, there’s a… Read More »

Is Your Estate Plan Collecting the Digital Equivalent of Dust?

If you put together your key estate planning documents in the past but haven’t touched them since, your plan might not be accomplishing the goals you intended. Likewise, if you haven’t incorporated any of your digital and online accounts into that process, you’re missing out on making things easier for your loved ones while also… Read More »

What Is Probate?

Do you know what happens to your estate planning documents or your assets after you pass away? If you haven’t taken the time to answer this question, the court might be more in control of these decisions than you think. The more planning you can put into preparing for or avoiding probate, the easier it… Read More »

Why Would I Use an Advanced Health Care Directive?

Have you thought about whether there are certain medical procedures you don’t want in the future? Are you concerned about whether your family members would be put into a difficult situation trying to figure out whether you wanted life-sustaining care or worse, can’t agree with one another on the best course of action if your… Read More »

Should a Lawyer Manage My Trust?

Hiring a California estate planning attorney to manage your trust accounts is a common tactic employed by those wanting a professional working on these important accounts. There are three common scenarios in which an attorney will become responsible for a trust account. These include: In conjunction with a payment from a settlement. To manage the… Read More »

Should You Name a Guardian for Your Minor Child?

No parent wants to think about the possibility that they might not be around to raise their children to age 18. It is extremely important, however, to ensure that you have a plan to name a guardian for minor child in case something happens to you as a single parent or in case something happens… Read More »

What You Should Know About Changing Beneficiaries

Most people know that their estate plans will evolve over the course of time. This is why you cannot be the process of Estate Planning in California as one that you sit down in accomplish only once. It is very important to have an ongoing relationship with your Pasadena estate planning attorney so that you… Read More »

Primary and Contingent Beneficiaries: What Are They?

One of the ways in which the distinction between a primary and contingent beneficiary comes up is in the context of your life insurance policy. A primary beneficiary is the individual or group of individuals that you hope will receive the benefits of such a policy after you pass away. However, those people might no… Read More »

Coordinating Your Plans Across Generations? Make Sure to Follow These Steps

At our Pasadena estate planning office, we believe that inter-generational estate planning is critical. It’s about more than just looking forward to only one generation. These plans help heirs be prepared to manage and preserve assets well into the future even after they are gone. Five different steps need to be incorporated into your inter-generational… Read More »

Three Retirement Related Expenses That You Can’t Afford to Forget

You probably visualize some of the most positive aspects of retirement as being able to spend more time on your hobbies, visiting with your family members, or traveling the world. But don’t forget about the possibility of big expenses that could hit you or your loved ones harder as you enter older ages. These are… Read More »

Do Doctors in California Really Need Asset Protection Planning?

Financial practices should be an important component of your overall plan as a doctor. There’s no doubt that you’ve already been through a great deal of work, education and training to get where you are today and it’s simple to overlook the possibility of protecting the assets you’ve worked so hard to create. However, if… Read More »