Category Archives: Estate Planning, Wills and Trusts
When Estate Tax Law Change Is The Only Constant, Keep Your Estate Plan Flexible
As an estate planning attorney, I find it extremely frustrating to not know what the estate tax law will be when my client eventually passes away, since this makes the very idea of “planning” problematic. The window between when an estate … Continue reading
Lifetime Gifts: Is Massive Gifting Before The End Of 2012 A Good Estate Planning Strategy?
Some estate planners have urged their clients to make large lifetime (inter vivos) gifts to their heirs in 2012, when the current federal gift tax exemption is $5.12M, and the federal gift tax rate is 35%. We don’t know what … Continue reading
Estate Tax Law Changes: 2011, 2012 and Beyond
The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act (“TRUIRJCA” or “TRA 2010″ for short) was signed into law on December 17, 2010. It was a compromise bill and, as such, it suffers from two major defects: it leaves … Continue reading
Essentials of Trust Funding
By itself, having a living trust document drafted and notarized will not effectuate the beneficial intentions of your estate plan. The problem is that a living trust will only accomplish your goals if you properly “fund” it. You have to … Continue reading
But, What Will Happen to Fluffy When I Die?
For many Americans, pets are more like a family member than a piece of property. Yet, more than 500,000 pets are euthanized in the U.S. each year because owners die or become incapacitated. The law treats pets as mere property, … Continue reading
Duties of a Successor Trustee
If a decedent had a properly drafted and funded trust, probate is generally not required. Unlike a will, a trust is a private document and need not be filed with the probate court. Nonetheless, the successor trustee must still take steps to administer … Continue reading
Frequently Asked Questions About Probate
1. How long does a California probate proceeding take? A “short” or “summary” probate proceeding can take as little as approximately 30 days. However, not every estate qualifies for the “short” or “summary” probate proceeding. A “full” formal probate proceeding … Continue reading
Answers About Estate Planning
1. What is estate planning? Estate planning is a process. It involves people—your family, other individuals and, in many cases, charitable organizations of your choice. It also involves your assets (your property) and the various forms of ownership and title … Continue reading
What Everyone Should Know About Wills
1. What Is a Will? Your will is a legal document in which you give certain instructions to be carried out after your death. For example, you may direct the distribution of your assets (your money and property), and give … Continue reading
What is a Living Trust?
1. What is a living trust? It is a written legal document that partially substitutes for a will. With a living trust, your assets (your home, bank accounts and stocks, for example) are put into the trust, administered for your … Continue reading
