Year: 2022
Is your will legally valid?
A will is more than putting your last wishes on paper. It is a legal document enforceable by a court, and it must be legal and valid. Otherwise, it might be declared null and void when distributing your estate. Can the document you have withstand the legal test when...
3 common estate planning mistakes
Thinking about the end of your life may not be at the top of your list of things to do – but planning now can provide peace of mind down the road. End-of-life planning, more commonly called estate planning, is all about getting plans in place to help manage risks...
Understanding capital gains tax on an inherited home
While there’s no state inheritance tax in California, that doesn’t mean you’re completely in the clear from taxes after a loved one dies. For example, you may have to pay capital gains tax if you inherit property and then sell it. However, fortunately, it’s not as bad...
Which documents control your life insurance policy?
As someone creating or updating an estate plan in California, your life insurance likely plays a significant role in your plans. Your life insurance may be how you intend to replace your income to help support your family or how you intend to cover funeral costs and...
Which creditors must you contact as representative of an estate?
Whether you volunteered to serve as the representative of someone's estate years ago or the probate courts appointed you, all of the major responsibilities fall to you. A big part of estate administration involves fulfilling someone's outstanding obligations after...
Does your business partner bring enough to the table?
You’ve created, financed and organized your company on your own. So far, the business has been a great success and is continuing to grow. In fact, the growth is so exponential that you're considering enlisting some help. You’re searching for a new business partner...
Will your estate plan benefit from powers of attorney?
If you are new to estate planning, you might not understand what one or more powers of attorney can do for you and your family. These legal documents empower you to address several different issues in your estate plan. As a bonus, well-drafted powers of attorney can...
Doctors’ duties regarding your Advance Health Care Directive
A California Advance Health Care Directive is a crucial part of any estate plan. All adults can benefit from having one in place because it allows you to make your wishes for medical treatment or ending of treatment known if you’re unable to speak for yourself. Most...
Two reasons to create a trust for college tuition
As you consider how you want to leave an inheritance to your family, you may decide that you want to pay for your grandchildren's college tuition. You want to leave money behind so that you know they can get an education without having to worry about the cost,...
If your parents die in debt, do you have to pay?
When your parents passed away, you knew that they would have assets to leave you. You also knew that they had named you as the estate executor. You are the one who is in charge of gathering up those assets, reading the will, talking to the other family members and...