At the time of a death, the legal determinations ensure that the court distributes inheritances in an orderly fashion. Issues may arise during death or divorce depending on whether you live in a community property or separate property state. Based on differing expectations of all parties involved, disagreements may arise.
Category Archives: Estate Planning
Estate Attorney, Estate Planning, Estates, Trustee, Trusts
A Separate Revocable Living Trust (RLT): What is it?
27
Aug
Aug
When a married couple (the grantors) uses a joint RLT for estate planning, they also serve as initial trustees of the trust. The grantors then combine their separate property and joint property into the same trust.
30
Jul
Jul
Depending on your parenting philosophy, decide you you want to treat your children or grandchildren. Treating loved ones equally means that they all receive the same amount.
Assets, California Law, Estate Planning, Heirs, Inheritance, Taxes, Trustee, Uncategorized
Wealth Transfer Checklist
23
Jul
Jul
To help your loved ones avoid this troubling statistic, educate, and update your extended family about wealth transfer goals. Finally, it alerts them to the plan you created to achieve these goals.
16
Jul
Jul
The person who was paid must not have been reimbursed by their insurance company. Reimbursed amounts do not qualify for eligibility under the unlimited medical exclusion tax-free gift category.
09
Jul
Jul
Planning to Receive an Inheritance Estate planning makes most people think about preparing accounts and property for loved ones. The goals include working in a tax-efficient way. Tax advisors protect clients from probate and disgruntled heirs. Also, they watch out for beneficiaries’ creditors, divorcing spouses, bankruptcy, and more. Finally, they try to prevent poor spending […]
Assets, California Law, Estate Planning, Inheritance, Taxes
Inheritance: Leave Gifts for Grandchildren
25
Jun
Jun
From a practical perspective, the grandchildren’s parents often understand how to use the money for the benefit of their children. What’s more, they may spend or invest it appropriately on their children’s behalf.
California Law, Estate Attorney, Estate Planning, Guardianship, Heirs, Trusts, Wills
Beneficiary Designations
18
Jun
Jun
If something happens, a successor trustee you previously selected steps in without court involvement. In such a case, they manage the trust on your behalf. You can also designate what happens to the trust’s money and property at your death.
12
Jun
Jun
Many estate planning attorneys struggle to formulate a concrete definition of the term. Nevertheless, most estate attorneys define elder law by the demographics they serve — the elderly and the disabled.
Assets, Estate Attorney, Estate Planning, Heirs, Inheritance, Trustee, Trusts
Irrevocable Life Insurance ILIT Trusts
04
Jun
Jun
Even if Congress fails to act, in 2026, the current rate sunsets. This cuts rates in half to about $6 million per individual. This blog post discusses ILIT Trusts. So, read on.