What is a Family Limited Partnership?

Some people are under the impression that establishing a family limited partnership can somehow eliminate all estate taxes, regardless of the fact that the estate or the overall structure of the business.   The concept behind this is that the parents can transfer property into a partnership business entity with children and potentially grandchildren.  These individuals will share ownership as limited… Read More »

What is a Property Control Trust?

You may establish a property control trust in numerous different situations, including, the following five: First of all, you might want to restrict the beneficiaries access to his or her inheritance, because you believe that they can not responsibly handle money.  You can establish a spend thrift trust to assist with this. The second reason to… Read More »

Celebrity Estate Planning Oddities: Harry Houdini

Often celebrities can provide interesting information about the estate planning process. All too often, this comes in the form of mistakes to avoid since too many celebrities never do their estate planning to begin with or fail to incorporate a holistic picture that would better protect them and their loved ones. However, celebrities can also… Read More »

What Are Non-Probate Assets in California?

There are primarily three types of properties that do not go through the probate process. This property will transfer outside of probate regardless of what a person listed in their will. Non-probate assets include:  Property that is held jointly with survivorship rights. Community property that is only available for married couples if they own property… Read More »

What Types of Risks Do My Assets Face?

Keeping your wealth protected is an important part of the estate planning process. Many people also sit down with their estate planning attorney to discuss asset protection planning strategies. Working so hard to create your wealth and then outlining a plan for it to be passed on to future generations are important but not without… Read More »

What Can I Expect During the Preservation Stage of My Life?

During the course of your adult life, you will encounter a few different phases. As you shift into each of these phases, your overall focus will change and you’ll need to adapt your expectations in line with those concerns present at each stage. The three various phases of your financial life are, accumulation, preservation and… Read More »

Can I Revoke a Power of Attorney?

Many people are curious about whether a power of attorney document ever terminates or whether you need to go through the process of hiring a lawyer to remove a person that you no longer want to have this power, this person could be choosing to refuse to give up the power of attorney. There are… Read More »