Estate taxes take a big bite out of family wealth each time money passes from one generation to the next. Many families now turn to generation-skipping trusts (GSTs) to keep more assets in the family and reduce their tax burden. This innovative planning tool helps...
Planning For A Secure Future
Month: October 2023
4 common misconceptions about pour-over wills
Estate planning can be confusing, especially when it comes to pour-over wills. You might have heard different things about them and wonder if they matter to you. Whether you are starting your estate plan or reviewing an existing one, it is important to clear up any...
How much does probate cost in California?
Thinking about probate costs while dealing with loss can be stressful and confusing. Moreover, California has one of the highest probate costs in the country. In many cases, the total probate expenses catch grieving families off guard. Probate costs generally vary...
How trusts can simplify estate administration
When a loved one passes away, addressing the complexities of estate administration can be overwhelming. Probate, the legal process of settling an estate, can be time-consuming, costly and public. However, by incorporating trusts into your estate plan, you can simplify...
4 common myths about estate planning
Estate planning is a crucial aspect of managing one's assets and ensuring their distribution according to personal wishes, yet many misconceptions surround it, leading to misunderstandings and missed opportunities. Myth 1: Estate planning is only for the wealthy Many...
Initial steps in estate administration in California
When someone dies, their estate needs management. If there's a will, the named executor handles any estate-related matters for the deceased. When there is no will, the court appoints an administrator following a priority order. Spouses are first in this order. The...
Is your inheritance at risk in probate?
As a beneficiary, waiting for your inheritance can be stressful. While most probate processes go smoothly, sometimes issues arise that could put your inheritance at risk. Here are some red flags to watch out for: Lack of communication If the executor is not keeping...
5 life events that warrant revisiting your estate plan
An estate plan is not a set-it-and-forget-it kind of task. Although it may be time-consuming, life's unpredictable nature often necessitates a reevaluation of these plans. Here are five major life events that signal it is time for an estate plan review. Having a child...
The critical role of healthcare directives in your estate plan
When you think about estate planning, the first things that come to mind might be wills and asset distribution. Healthcare directives are a crucial part of your estate plan that is just as important. These documents ensure your loved ones respect your medical wishes...
7 strategies to use when estate planning for blended families
Blended families face unique estate planning challenges. It involves balancing the needs of your spouse and children from previous and current marriages. Ensuring everyone is cared for and your wishes are honored requires careful consideration. Without a clear plan,...