Planning For A Secure Future
The bypass trust is an advanced estate planning tool that can help high-net-worth married couples in California maximize their tax savings. It involves multiple specifically-crafted trusts with different tasks. The power of the bypass trust The basis of the bypass is...
California residents can do themselves and their families a huge service by planning their estate and documenting their wishes. These are the reasons why it’s never too early to consider this important step. It eliminates stress When you decide to start planning your...
If you or your spouse may end up needing long-term care in California and you've never heard of a Medicaid asset protection trust (MAPT), it may be time to learn. This trust type may help you keep your assets secure without sacrificing the quality of care for the ones...
Most estates must go through probate in California. Even if the decedent didn't leave behind a will, you may have to follow part of the probate process to allow the judicial system to distribute the estate based on intestacy law. Lodge the will When the decedent has...
Proper estate planning requires a will. While many people in California use software, computers and lawyers to write a will, some wills are handwritten. Any handwritten will is called a holographic will. Before you create a holographic will to plan your estate, be...
Broadly speaking, there are two main categories of trust that people in California can use in estate planning. These are revocable trusts, also referred to as "living trusts," and irrevocable trusts. The most obvious difference between these two kinds of trusts is...
As long as your beneficiary qualifies, you may set up a special needs trust for them in California. It's better to pass on assets to them through this type of trust than a will or a living trust because it comes with important benefits. Government benefits The main...
Buying a home is often the biggest financial venture you'll embark upon. While being a home or property owner can be a rewarding experience, this investment also comes with significant risk. If you decide to hold a probate sale in California, the purchase risk is...
For estate planning in California, trust property is a potentially important tool that can help reduce the tax burden on some assets and make sure that they go to the right people upon death. There are many ways to use trust to protect property for the purposes of...
New parents and parents-to-be in California should consider creating or updating their estate plan with their children in mind. It is important to remember throughout this process than minors cannot inherit assets. Taking care of children First, you need to make sure...