Women are increasingly recognizing the importance of securing their own financial future. Since women tend to live longer than men, it is important for them to consider their financial planning whether single or married. Even for married women, the possibility of one partner using long term care services means that it’s worth a conversation around… Read More »
Blog Posts
What Surviving Spouses Need to Know About Portability
Have you updated your estate plan since 2021 or 2022? Even just a matter of one year can mean that your estate plan is outdated, which is why it helps to have a relationship with an attorney you can trust. Significant IRS changes in estate tax rules were announced a few years ago that might… Read More »
Will My Loved Ones Pay Capital Gains on An Inherited Piece of Property?
When you inherit property like stocks or a house, the property is typically worth more at that point in time than it was when the original owner bought it. If you were to sell the property, this could lead to substantial capital gains taxes, which could mean that your loved ones are responsible for thousands… Read More »
What Is the Spousal Lifetime Access Trust?
Have you ever thought about using irrevocable trusts as part of your estate planning? If not, you can work with an attorney to help you accomplish this. Talking with a lawyer can help you navigate the process of determining what is best for your individual needs. Using an irrevocable trust is a powerful strategy for… Read More »
Unequal Inheritance? Plan Ahead to Avoid Disputes Among Your Children
There are many reasons why you may wish to gift unequal inheritances to your loved ones, but this can cause unnecessary conflicts and disputes among your children if they don’t know in advance. You may be interested in thinking about how to treat your children fairly, while keeping in mind that fair does not always… Read More »
Protecting Your Assets from A Nursing Home: Do You Need a Plan?
Many people hope they don’t ever need a nursing home, but there are good reasons to pay attention to this in your planning. Research from the US Department of Health and Human Services shows that nearly 70% of people aged 65 and above will need long term care services at some point in their future,… Read More »
Choosing an Agent: Things to Bear in Mind for Estate Planning
Who will help you if you’re incapacitated? Who will manage the administration of your estate after you pass away? These important people are known as agents, although they can also be referred to by specific roles like personal representative, executor, or trustee. You may not get to choose your family members, but the agents who… Read More »
What To Know About Inheriting Homes in California
If you’re currently completing your estate plan and intend to pass on property to loved ones, individuals or organizations, you need to be prepared with the most effective ways to transfer property like real estate. However, if you are anticipating receiving property from someone’s estate plan, you may also want to walk through the issue… Read More »
What Roles Are Named in A Power of Attorney Document?
If something happens to you, do you have a plan for who will take over managing your finances on your behalf? Does the person you want to hold this responsibility know about it and feel comfortable handling it? Do you know which tasks you’d like them to handle, or when you’d like this power of… Read More »
How To Help Your Loved Ones Prepare to Inherit Sudden Wealth
Doing your estate planning should give you peace of mind that you’ve done everything possible to set your loved ones up for success. But the receipt of a sudden large amount of wealth can cause more questions than originally anticipated, and advanced planning and conversations on your part can make things easier for your loved… Read More »
How Do Beneficiary Designations and Joint Ownership Transfer Assets at My Death?
There are multiple ways that you can pass on assets to your loved ones. Some may be more complex than others but can help you achieve various aspects of your individual goals. Two popular options are beneficiary designation and joint ownership. Beneficiary designation is available with multiple types of accounts, such as brokerage accounts, retirement… Read More »
How To Reduce Estate Taxes 101
While many people will not trigger the federal estate tax, those with substantial wealth should consider working with an estate planning lawyer to help create a strategy. There are ways to keep the planning simple and avoid the threshold to minimize estate taxes. However, for those who will trigger beyond this number, setting up trusts… Read More »
Make Sure Your Estate Plan Matches with Your Life Insurance
Life insurance policies typically pass outside of probate, which means they may get overlooked or neglected in the estate planning process. Life insurance policies help to supplement the existing estate plans you have and may allow for a more streamlined transition of assets. If you have a life insurance policy, there is a strong chance… Read More »
Why Do You Need to Create a Living Will Now?
Planning for what happens if life occurs unexpectedly can give you peace of mind that your wishes will be protected. A comprehensive estate plan is one of the most important steps to covering this aspect of your life. If your life ends unexpectedly, a living will could make things much easier for your loved ones…. Read More »
What Current Trends Should People Know About Business Succession Planning?
Any business owner should engage in the process of business succession planning, but likely has questions about whether or not it’s the right time to sell their company now. Business owners are facing unique challenges in today’s market, but the truth is that business succession planning can be beneficial at any point in time. Some… Read More »
What Is Conservatorship in California?
If someone is unable to take care of their own affairs due to serious health issues, they may need someone else to step in and assist with those tasks. If no estate plan has been created, You may hear the term conservatorship in relation to estate planning. Breaking this down to understand when it applies… Read More »
What are the Key Documents that Most People Overlook in Their Estate Plan?
A basic estate plan may include something like a will and properly filed beneficiary designations with any accounts that pass assets that way. However, an incomplete estate plan can cause unnecessary stress for your loved ones as well as confusion. It also increases the chances of an estate planning dispute among your beneficiaries when you… Read More »
What to Know about Gifting During Your Lifetime
Many people are curious about whether or not their estate will trigger a federal estate tax, especially as estate taxes may be revisited by legislators in the coming years. Gifting assets over the course of your life can help to reduce the total size of your taxable estate. Each time you make a gift, you… Read More »
When to Use a Special Needs Trust for Your Child
Trusts are one of the most popular estate planning tools that individuals and families use to protect their interests. A special needs trust is an irrevocable one that allows a disabled child to continue receiving public assistance benefits, such as SSI and Medicaid. In other cases, when a person with special needs owns too many… Read More »
What Are the Main Benefits of Pet Estate Planning?
While we hope to remain there for our pets throughout their entire lives, unforeseen circumstances can put your furry friends in a difficult situation. In the event of your sudden passing or incapacity, it is critical to have a plan in place that helps provide the support and care your pets need. Working with… Read More »