With the threat of a “sunset” at the end of this year of the current high federal estate tax exemption back to $5 million, adjusted for inflation, many people across the country are no longer concerned about planning to avoid or minimize estate taxes. However, in the Bay area, there are still many families who do have taxable estates and…
Summer is here! A California summer is all about sunshine, relaxation, and maybe even checking off some those to-do list items you’ve been putting off. While you are sorting out travel plans and backyard BBQs, it may be the perfect time to tackle something equally important to you and your family: your estate plan. Creating a solid estate plan isn’t…
Many people choose an adult child or other relative to serve as the successor Trustee of their trusts. However, there are often concerns about a relative’s ability to administer a trust, such as sibling rivalries, personal obligations, or irresponsibility. In situations where a client does not have a clear, solid choice for a successor trustee, they may consider a professional…
As you begin to declutter your garage, empty out your closets of old clothes from a decade ago, and freshen up your home this Spring, it may be the perfect time to do a little “life cleaning” to ensure your life planning documents are in order, up to date, and have reflected any life events in the past few years.…
You have heard the common estate planner saying, “make sure your beneficiary designation forms are filled out!” Yet, one of the most critical and often overlooked aspects of the estate planning process is properly filling out a beneficiary designation form after creating an estate plan. Beneficiary designation forms are filled out for retirement accounts like 401(k)s, IRAs, and even pensions…
As young adults embark on the journey toward independence, many significant milestones exist to celebrate. From securing your first job to getting married or purchasing a home, each milestone presents new opportunities and responsibilities. While estate planning might seem reserved for older individuals, it is a crucial step to take as soon as you reach certain key milestones. Below are…
When planning your estate, providing your trustee with essential passwords and information about your assets can save your loved ones significant time, stress, and legal hurdles (expense!) in creating a seamless trust administration after you become incapacitated or pass away. Proper preparation ensures your estate is managed smoothly and according to your wishes. Below are the top 10 types of…
One of the noteworthy pieces of legislation passed in 2024 was Assembly Bill 2016 (AB 2016), which aims to address accessibility, efficiency, and fairness within California’s probate procedures. Probate is the court process through which a deceased person’s assets are administered and distributed to beneficiaries and heirs. It can be a complex, time-consuming, and expensive process. AB 2016 seeks to…