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Trusts may be subject to local and state taxes in addition to federal taxes. When you are estate planning, you should be aware of all tax implications of your options and choose which strategy allows the most money to go to your beneficiaries. Income tax return...
A dying estate is when a person dies without a will in Concord, California. The property and assets of the deceased enter probate. The probate court oversees the process, which follows the procedures of the state. The probate process tends to sell the real estate in a...
If it's been a few years since you created your estate plan and a lot has changed since then, you'll need to update it promptly. Failure to do so can invalidate your will or create grounds for conflict among your beneficiaries. It's important to update or modify your...
Making a will is an unpopular activity for many California adults. For others, it's an act of being a responsible adult, taking control of your personal belongings and caring about your family's future. Creating a will should be put on top of everyone's priority list....
California residents might have a hard time getting an estate plan started. Not only can it be an emotionally draining process, but there are a lot of steps to carefully consider. Most people don’t think of estate planning as being more than setting up a will. But for...
With gift and estate exemption limits decreasing in the next few years, California residents may be looking for solutions. Spouses can, temporarily, transfer wealth to each other through gift deductions of no more than $11.7 million for each spouse. When used...
Some people in California get elder law and estate planning mixed up. While there are some issues that cross over, these two areas of law are different. Estate planning generally concerns what happens to your property after you die while elder law focuses exclusively...
Death is the central reason for your local court to issue a probate proceeding. People who die without an estate plan have assets that a public court accounts for instead. Your estate isn't just exposed to taxes when you pass; public courts in California need to also...
Estate planning helps families, individuals and business owners meet their long-term goals in Concord, California. Irrevocable life insurance trusts, or ILITs, are common when dealing with estate planning. With recent tax cuts and law changes, do ILITs make sense? The...
A trust is an estate planning tool that gives the grantor, or creator, control of assets. Trusts are either revocable, meaning they can be changed, or irrevocable, meaning they cannot be changed. A common type of irrevocable trust in Concord, California, is the...