If you are thinking ahead about your future estate planning in Pasadena, our buy/sell agreement attorneys can help you to structure this important document that will outline what happens to this property if you are no longer part of the business. Buy/sell agreements are particularly useful if you intend to leave real estate or businesses… Read More »
Blog Posts Page 3
Valuation and Payment Term Basics for Buy/Sell Agreements in Your Estate Plan
Bankruptcy, incapacity, and death of a property owner will typically call for a buy out in a business. One of the first considerations has to do with the valuation of the share that should be sold or bought at this point in time. The market is constantly fluctuating, meaning that the shares could vary in… Read More »
What Is A Buy/Sell Agreement in Your Estate Plan?
If you are an owner of a business, you have additional considerations when it comes to writing your estate plan. One of these can include the plans for what happens to your business after you choose to exit it, whether voluntarily or involuntarily. This can include a buy/sell agreement. A buy/sell agreement often comes up… Read More »
Avert This Simple Mistake That’s a Trust Disaster
You already know that estate planning tools, such as a will or a trust, are essential for outlining your wishes and for putting a plan in place to keep certain aspects of your estate private. But what if you fail to take the necessary step in funding your trust, which often requires changing the title… Read More »
Simple Tips for Getting Your Estate Plan in Order Today
If you’re like most people around the world, you’re staying inside and working on accomplishing tasks and keeping your family’s spirits high. Accomplishing estate planning is another aspect of getting your personal and financial affairs in order during this time. Remember that most estate planning work can be done at home and plenty of estate… Read More »
COVID-19, the CARES Act, and Your 2020 RMD
I hope all of my readers are well. By now, all of you should have heard of the CARES (the Coronavirus Aid, Relief and Economic Security) Act signed into law on March 27. It’s the federal economic stimulus package that provides, among other things, for expanded unemployment benefits and loans for businesses struggling with the… Read More »
Using a Grantor Trust as Part of Your Estate Planning
Trusts can be a very valuable estate planning tool when thinking about how to pass on wealth to future generations. They also add a layer of privacy in removing some of the information that would otherwise be shared as part of the public record. You might have heard of many different terms in relation to… Read More »
Technology Update
I hope all of my readers are well. I thought I would give you a brief update on our efforts to continue to serve you. In my last COVID-19 posting, I wrote about how I am handling signing documents while abiding by orders from the City of Pasadena/County of Los Angeles/State of California to stay… Read More »
Working on Your Estate Plan from Home
Creating an estate plan is not easy in the best of times, but in light of the fact that many people are working from home and seeking out resources and help virtually, there are some important action steps that you can take to ensure that your estate plan does indeed get done. Doing some research… Read More »
Making Sure Your Family Stays A Family in Business Succession
Business succession planning is always a complicated process, but it can be made that much more difficult when you have family members involved. Thinking that you want to pass down the family business to someone else, like a child or grandchild, is a common conclusion for plenty of business owners, but this does not necessarily… Read More »
Why You Need A Plan for Death and Taxes
It’s easy to put off your estate plan. Nobody wants to think about the potential tax ramifications or about their own mortality, but it is one of the most important things that you can complete not just for your own needs, but for your family members too. Your estate plan consists of a will and… Read More »
Will Your Retirement Funds Last If the Tax Cuts Change?
Many people who welcomed in the Tax Cuts and Jobs Act in 2017 felt that they would reap the benefits of reduced income taxes through 2025. However, some people are wondering about what will happen when that expires and how this could potentially influence their retirement. Those most at risk of having to go through… Read More »
Technology Update
I hope all of my readers are doing well after their first weekend on lockdown! I thought I would bring you up to date on our efforts at the Pasadena Law Group to continue to provide for our clients, even if we should not/are not allowed to meet face to face. So, we’ve investigated technology… Read More »
You Need to Nail Financial Basics from The Time You Receive Your First Job
There are many different confusing concepts about becoming an adult, but one of them that you must consider is whether or not you need estate planning documents. And here is the spoiler alert; you do. You need the same core principles of financial and estate planning as someone in their 30s, 40s, and 50s even… Read More »
Why You Should Care About Estate Planning?
Your estate plan is the key to a less stressful situation. Every person, regardless of their net worth and age, needs comprehensive estate planning to ensure that their individual wishes are accounted for and that their family has been appropriately provided for. Death, unfortunately, is inevitable and many people suffer the additional challenge of becoming… Read More »
Coronavirus: Important Updates and Measures
Well, it looks as if the State of California is pretty much on lockdown right now. That does NOT mean the Pasadena Law Group is closed — we are open for business! Although we can’t hold face-to-face meetings, we can do online meetings and, if you need to sign documents that must be notarized, we… Read More »
Estate Planning Can Be Much More Complicated by Multiple Marriages
Getting married more than once might be the right thing for your individual circumstances, but it can set things up to be difficult for your children from your first or previous marriages when you bring in someone new. Combining finances in a subsequent marriage can be very complicated when both of you might have children… Read More »
Is It Enough to Say Personal Property in My Estate Planning Documents?
Most people recognize that the term personal property used in the context of estate planning refers to property outside of real property like real estate. However, this isn’t always true when it comes to the California courts when you are making gifts of your property inside a trust or in a will. In fact, California… Read More »
Coronavirus Update: Office Safety and Meetings
I suspect you have been receiving a lot of emails about the novel Coronavirus/COVID-19 from your doctors, financial advisors and local restaurants. I thought you might appreciate a short note from your lawyer’s perspective. We certainly do not want to see a pandemic or declining markets, but here we are. Of course, one of the… Read More »
So Your Estate Plan’s Old (Yes, It Needs an Update)
You might think you’re covered because you created an estate plan many years ago. Even though you might have recognized the key importance of estate planning, you didn’t do the necessary steps to keep your estate plan updated over time. Unfortunately, there are many different reasons why your estate plan might become invalid or no… Read More »