Whether you’re a first-time homeowner or you’ve been through the process before, owning a home is a significant milestone that requires careful planning to ensure you’re well-prepared for the future. Below are three key things to consider for safeguarding your home and your loved ones. 1. Update Your Address If you’ve recently moved, it’s crucial…
Navigating Property Taxes, Income Taxes, and Gift Taxes When Transferring Real Property to a Child in California Deciding whether to transfer real property to your child during your lifetime or upon your death is a critical aspect of estate planning in California. This decision involves understanding the various tax implications, including property taxes, income taxes,…
Legal separation can introduce unique complexities to estate planning. While a separation does not terminate the legal rights of spouses to inherit from each other, it is essential to take additional steps to clarify the situation for your heirs. This blog post explores the implications of legal separation on estate planning in California and provides actionable steps to safeguard your assets and enforce your final wishes.
Edie Ceccarelli, a 114-year-old woman from Mendocino County, California, was recently confirmed as the world’s third oldest person. Her longevity is a testament to her good health and strong spirit, but it also highlights the importance of estate planning.
If you do decide on a trust, you can avoid a lengthy probate process. Another frequently underrated reason is the added privacy a trust offers.
Guns can be transferred to intended beneficiaries through a special purpose trust. The special purpose Gun Trust will contain the applicable state and federal statutes governing firearm possession and ownership to protect not only the Successor Trustee but also the beneficiaries from liability for possessing a firearm which state or federal law would not otherwise…
Establishing your estate plan including a Living Trust is merely the first step in avoiding probate and allocating your assets to your loved ones on your death. Trust maintenance must follow to fund the Trust with change in assets, life changing events (death, divorce, inheritance, etc.), and occasional changes in law. The most recent change…
California law (Probate Code Section 15212) provides for the ability to leave your assets for the benefit of your animal(s). The following are the key issues that must be addressed when drafting a valid Pet Trust: Definition of the animal(s) covered under the Trust; Caretaker for the animal(s) who is left with detailed instructions and…
What is a Heggstad Petition? Drafting a trust and funding it (changing title to your assets to the name of your trust) is a multi-step process. If a person fails to fund or title his/her property in the name of the trust during his/her lifetime the “Heggstad Petition” (named after a decedent in the case)…
As an estate planning attorney, I am often asked by clients where their original estate planning documents should be kept. Estate planning documents can include your original will, power of attorney, trust, or advance health care directive.
