What Is A Qualified Personal Residence Trust?

Many different types of trusts exist for you to accomplish your estate planning goals. One of these is known as a qualified personal residence trust. This is a trust that allows you to transfer your primary or secondary home to a beneficiary in the future while benefitting from gift tax savings. Once the residence has… Read More »

What Is a Spendthrift Trust?

When you are concerned about preserving, protecting and passing wealth onto heirs, it’s natural to be concerned about the beneficiary’s ability to properly handle such an inheritance. This might lead you to turn to an estate planning lawyer to set up a spendthrift trust. This unique tool allows to keep a family’s money safe from… Read More »

Do Life Insurance Policies and Retirement Accounts Automatically Pass to My Loved Ones?

A will is used to direct the distribution of assets to those family members and other people in your family who are most important to you. But don’t overlook the other two common accounts that require separate planning through beneficiary designation forms. These include life insurance policies and retirement plan accounts. Without proper designation of… Read More »

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 »