Is an Income Tax Time Bomb Lurking in Your Estate Plan? The federal estate tax exemption has grown significantly—from $5 million in 2011 to nearly $14 million in 2025. As a result, far fewer families face federal estate tax issues today. But there’s another kind of tax concern that’s increasingly relevant: income tax basis planning. If […]
Category Archives: Inheritance
13
Jun
Jun
Disinheriting a Spouse in California: What You Need to Know About Inheritance Laws When forming an estate plan, many people assume they maintain complete control over asset distribution after death. While this is generally true when it comes to children, siblings, and extended family, California inheritance law limits a person’s ability to disinherit a spouse. […]
23
May
May
No one likes the idea of the government stepping in to manage private affairs—especially when it comes to money and property. But without an estate plan, that’s exactly what can happen. If you pass away without the proper legal documents in place, your hard-earned assets could end up in state control through a process called […]
25
Apr
Apr
Is It Time for an Annual Estate Planning Retreat? In today’s fast-paced world, finding time to focus on long-term goals can feel nearly impossible. At Skvarna Law, we often see how easy it is to get caught up in day-to-day responsibilities while important priorities, like estate planning, get pushed aside. One way to stay on track […]
11
Apr
Apr
Estate planning doesn’t just reflect what you have today—it anticipates what tomorrow might bring. For many in Glendora and Upland, this means preparing for the unexpected: incapacity, sudden illness, or death. For parents and parents-to-be, the question of whether to include future children in an estate plan often surfaces. Does planning for a child who […]
07
Feb
Feb
Money and property may be the most discussed types of wealth that a person owns. But the riches of their experience and wisdom can mean even more to loved ones down the line. Reinforcement of family traditions build into your estate plan. In fact, they go alongside your wishes regarding the distribution of your money, […]
15
Nov
Nov
You regularly check the balances of your retirement, bank, and investment accounts. But when did you last check the beneficiary designations on these accounts? And really, all the other accounts that allow you to name a beneficiary?
20
Sep
Sep
Generally, a more complicated estate plan (for example, a plan that includes continuing trusts, tax planning, or asset protection planning) will cost more, as it requires more time to prepare and a more experienced attorney. We caution you, however, from creating an estate plan that is overly simplistic and does not fully align with your goals just to save money on legal fees. A good estate planning attorney can recommend the “just right” estate plan to fit your needs without overcomplicating things and charging unnecessary fees for tools and features you do not need.
13
Sep
Sep
Another issue with relying on state law is that none of the transfers to your loved ones happen automatically. Your family must open a probate estate with the court and go through the process specified in state law before your property can transfer out of your name and into theirs. This process can be long and costly. It is also public. Many people prefer that an inventory of their property and the details of their family stay out of the public eye. Perhaps the best way to keep your matters private is by creating and funding a revocable living trust while you are alive and have the legal capacity to do so.
09
Aug
Aug
When raising children, most parents hope to shape their children’s behaviors, provide them with specific values, and help them become productive members of society. Parents often use a “carrot and stick” approach to get the desired outcomes, incentivizing approved actions with rewards and discouraging unapproved actions with punishments.