Dear Clients and Friends, Many persons only get around to having a documented estate plan at the proverbial last minute, i.e. elderly and seriously ill. Others may write a simple will when they’re young but then fail to review or update it until something happens that makes … [Read more...] about Estate planning and one’s added peace of mind
Estate Planning
When to sell your parents’ home: The tax consequences
Dear Clients and Friends, Let’s say you’ve known for years that you are inheriting your father’s home when he dies. Hopefully, you also know that he has a will that indicates clearly that the house will go to you. Now let’s assume that your father is no longer living in the … [Read more...] about When to sell your parents’ home: The tax consequences
Think twice before transferring your home to adult children
Dear Clients and Friends, Think twice before transferring your home to adult children. Your home might well be your biggest asset. Many times, parents think about giving their home to their adult children outright while the parents are still alive, or adding their names to … [Read more...] about Think twice before transferring your home to adult children
Property division in a California Dissolution of Marriage action
Dear Clients and Friends, The essence of Community Property law concepts in California - and in other community property jurisdictions such as Alaska, Nevada, Idaho, Oregon, Washington Arizona, Lousiana and Texas - is the recognition that both spouses make valuable … [Read more...] about Property division in a California Dissolution of Marriage action
Take the time to update your estate planning document
Dear Clients and Friends, By some accounts, 70% of adult Americans do not have any formal estate planning documentation - such as a Will or a Revocable Living Trust. If you have at least gone to the trouble of doing this, consider yourself ahead of the curve and pat … [Read more...] about Take the time to update your estate planning document
Avoid these mistakes when setting up a trust
Dear Clients and Friends, When setting up a revocable trust, you need to be diligent about asset transfers, beneficiary designations and funding formulas. Failure to complete certain steps can prevent the trust from acting as you intended, creating additional cost and … [Read more...] about Avoid these mistakes when setting up a trust
