Estate Planning

If you are named to serve as the personal representative of a loved one’s estate, you will have many responsibilities under the California probate code. One of these tasks is to file an inventory with the probate court. You will have to follow the rules and perform this task correctly before the judge will approve the inventory.

California law allows you to work with professionals when administering an estate. A California estate planning attorney can help you with estate administration and explain what it means to file the inventory.
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For many people, their home is their largest asset. Therefore, they want their children to inherit their home. Working with a California estate planning attorney is the best way to ensure your children inherit your home after your death.

Leaving Your Home to Your Adult Children

There are four basic ways you can leave your home to your children in your estate plan:

Last Will and Testament

Most individuals choose this simple route to pass their home and other assets to their children. Your Will allows you to choose who inherits your property.

You might decide sometime after making a will that you want to change some of the terms of the document. Perhaps one of the beneficiaries is now deceased, or you no longer own an item you gave away in the will.
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Dementia is one of the common health issues that individuals face as they age. Alzheimer’s disease and other forms of dementia cause a person to lose their memory. They also lose the ability to understand many of the things going on around them, including the ability to make health care decisions.

A California elder law attorney assists you in executing documents that protect your right to choose your medical care. It is important to make your desires known now while you can make informed decisions about medical treatments and care for dementia-related illnesses.

As you evaluate your preparations for retirement, you need to know how your income will get taxed after you stop working and have a fixed income. Many people rely primarily or solely on Social Security retirement benefits when they retire. Pensions are not as commonplace as they used to be. Some people invest in annuities and wonder if doing so was a prudent financial decision.

A California estate planning attorney can answer your questions, like, “How are annuities and retirement benefits treated for tax purposes?” and draft your estate planning documents.

Serving as the caregiver for an aging relative with Alzheimer’s disease or another form of dementia can be exhausting, stressful, and isolating. Since millions of Americans find themselves in this situation, it could help if you have a few pointers to help you on this challenging path.

A California elder law attorney can provide guidance on the many legal issues that you and your loved one might face. This blog will give an overview of suggestions in several areas of caregiving, like everyday care, changes in communication and behavior, a healthy and active lifestyle, home safety, and taking care of the caregiver. Here are 10 tips for family caregivers: tips for caring for elderly parents with dementia.
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No one enjoys paying taxes. However, there are very few people who are able to avoid paying some form of taxes during their lifetime. Unfortunately, some individuals pay taxes after their death. Estate taxes can be a burden on your family. Our Read more . . .

It can be overwhelming when someone close to you dies, and you have to deal with the emotional loss while you handle the legal and financial matters of the deceased person’s estate. In times like this, it can help to have some guidance.

The good news is that you do not have to do all of the work by yourself. A Read more . . .

It has never been more important to take advantage of the current gift and estate tax exemptions. Currently, Congress seems poised to work on legislation that would increase the tax rate and decrease the dollar amount for the estate tax.

A recent plan unveiled by Bernie Sanders proposes to raise estate tax rates from the current 45% to 65%. Additionally, it would reduce the overall death benefit an individual could receive from $11.7 million to $3.
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Trust agreements are used in estate plans. These flexible estate planning tools allow you to customize your estate plan to meet your needs and goals. With many different types of trusts, it is important to understand the differences before choosing the type of trust for your estate plan. A Read more . . .

Estate planning is an essential step in ensuring your wishes are carried out after your death. However, it is also the best way to ensure that your family and loved ones are cared for when you die. Generally, most people have questions about estate planning.

Instead of putting off estate planning because you have questions, let our Read more . . .