With very few exceptions, state law governs estate administration. So, each state follows unique laws and regulations regarding probate and distribution of a decedent’s assets.
Category Archives: Estates
06
Jan
Jan
In addition to asset distribution, your executor makes a public notice of your death, files your final taxes, and records your will in probate court.
17
Dec
Dec
Paying for long-term care planning remains a significant challenge for most older Americans. However, preparing for service payments often proves tricky.
18
Nov
Nov
The key to ensuring that your estate plan will work the way you envision is understanding that how you own your money and property (i.e., how title is held) determines whether your will or trust, or neither, controls who will receive that money and property.
21
Oct
Oct
When people create estate plans, they typically focus on distributing their money and property to loved ones. For those interested in multigenerational wealth transfer, consider dynasty trusts.
23
Sep
Sep
When choosing trusted decision makers, select individuals based on their strengths. In other words, consider which characteristics or traits each decision-making role requires.
16
Sep
Sep
The Internal Revenue Service (IRS) describes S corporations as “corporations that elect to pass corporate income, losses, deductions, and credits through to their shareholders for federal tax purposes.”
19
Aug
Aug
With a nongrantor trust, the trust maker has given up all power over the trust and has no right to any of the trust’s accounts or property. In many circumstances, the trust maker may not even be a trust beneficiary.
22
Jul
Jul
A cold wallet is a physical storage device, such as a USB drive. It stores your crypto offline. The downsides of this option include the cost of the hardware, and that the device may be a small object which may easily be misplaced.
California Law, Estate Planning, Estates, Life Changes, Probate, Trusts
Time for an Estate Plan Checkup?
29
Apr
Apr
Failure to take the time to craft an estate plan could leave the state where you reside at the time of your death in the driver’s seat. Laws in most states set forth how to apportion property.