Category: Estate Planning

What estate planning documents are essential to protect my heirs?

The topic of estate planning often elicits much confusion and uncertainty.  Some of us have likely come to believe that only the elderly or the ultra-wealthy need an estate plan.  Others recognize the importance of an estate

No one likes thinking about becoming incapacitated. The sad fact is, many people do find themselves unable to make their own medical decisions. Without proper incapacity planning, including an up-to-date HIPAA authorization, it can be impossible for your loved ones to get access to your medical records and get you the treatments that you...

One of the advantages afforded to taxpayers in the Tax Cuts and Jobs Act (TCJA) is the increase in the federal estate tax exemption. The TCJA increased the federal estate tax exemption. It also indexed it for future inflation. In 2019, the federal estate tax exemption for individuals is $11.4 million ($22.8 million for...

Are AB trusts still a solid estate planning tool for married couples?

An AB trust is a joint trust created by a married couple with the goal of minimizing estate taxes.  AB trusts are unique in that the trust will divide into two when the first spouse passes away.  Assets from both spouses will be...

Why is it important to update my estate plan every few years?

The New Year offers a fresh start for all of us. It represents a clean slate, and for many the start of the new year is the time to create goals.  By...

What life changes might require a change to your estate plan?Fewer than half of all Americans have an estate plan in place.  If you are among the half that has taken the time to create an estate plan, then this information is relevant to you. While making an estate plan is a critical step...

How can I bring up the topic of estate planning to my loved ones?You’ve taken the vital step of creating an estate plan, but now it is time to talk to your family about your last wishes.  Broaching the subject of estate planning with your loved ones can be daunting. After all, estate planning...

Anyone can contest a Medical Power of Attorney, but the question is whether the person would succeed in contesting your wishes. Everyone has the right to make decisions related to their future medical care, including appointing a trusted person to act as their agent if they are unable to make decisions or enforce prior...

One of the goals of an effective estate plan is to decrease or eliminate taxes for your heirs. When Congress passed the new Tax Cuts and Jobs Act (TCJA), there was a lot of discussion about various elements of the TCJA and how it impacted the average worker.  However, there was not as much...

What properties are eligible for a tax-free transfer in California?

California currently boasts several tax laws that could greatly benefit children who inherit property from their parents. State laws are protecting children from tax increases on inherited homes, which is thought to be impacting the availability of housing in...