Can I Lower My California Estate Tax?

It is a common question for many people just starting the asset protection planning or estate planning process in California: how can I decrease my estate tax responsibilities in California? There are many ways to lower your tax obligations while also protecting assets for your family members and heirs. Make sure that you have a… Read More »

Can I Use a Trust to Reduce Estate Taxes?

In 2021, the federal estate tax exemption is $11.58 million. This means that the vast majority of American families won’t trigger this tax upon their death. However, state estate tax exemptions could still apply to depending on your primary state of residence. One of the most common reasons for people to explore the possibilities of… Read More »

Can a California Executor Receive Compensation?

It can be a very time consuming job to be appointed as someone’s executor of their estate. This role can last for longer than a year as the person has numerous different responsibilities in closing out the estate. Most states, including California enable a person appointed as a personal representative or executor to receive compensation… Read More »

How Does an Executor Make Distributions?

Heirs named in your estate plan may be eligible to receive distributions of assets after your appointed personal representative or executor has created an inventory and paid down any debts or taxes. Before making any distributions, it is the executor’s responsibility to verify that they have taken care of all of the other details in… Read More »

What Does It Mean to Take Inventory of An Estate?

Have you named an executor of your estate yet? If not, this is an important role that you need to appoint in your formal estate planning documents. This enables another party to step in and take care of the management and closing out of your formal estate after you pass away. This is known as… Read More »

What to Know About Executor Selection

The appointment of an executor in your estate is a crucial component of an ensuring that there will be someone there to handle estate administration tasks when something happens to you. It is equally important to understand this role within your individual state and the requirements aligned with it if you have been named as… Read More »

Estate Planning Basics: What Do I Really Need?

Have you overlooked an estate plan because you feel like you won’t need one? Here’s an important thing to remember: your estate plan is just as much about your beneficiaries as it is about you. Educating yourself about the core components of an estate plan is a good starting point in your research. However, your… Read More »

Don’t Have a Succession Plan Yet? Now Is the Time

2020 has been the year of change and challenge for business owners. What you might have intended for the year could have been turned upside down, and even your existing succession or business transfer plan might need an update. There is a lot of uncertainty in the world today which means that business owners have… Read More »