Estate planning is not just for seniors. Ideally, as soon as you turn eighteen you should have some version of an estate plan because your parents are no longer automatically able to make decisions or act on your behalf. There are several reasons to create a power of attorney for finances once you turn eighteen. For example, the military helps…
Natalie scrunched up the letter in her hand and tossed it into the trash. “Thanks for nothing, Uncle Fred.” Her husband, John, frowned. “Bad news?” Natalie shrugged. “Remember when Uncle Fred said he was going to pay the college tuition for all his nieces and nephews?” “Sure, we figured that into our financial plan. It will be a big help.”…
Many people set up estate plans because they are concerned with having to pay estate or “death” taxes. Currently, if someone dies in 2020, their estate is taxed by the Federal government for every dollar their estate is over $11,580,000. California does not currently impose any estate taxes. But what happens if you own property in another state? What if…
Now that we’ve settled into somewhat of a new normal for the time being, people are thinking about getting things in order. There is still a sense of urgency, but many are taking the time to review their estate plans to make sure everything is in place, or are taking steps to put a new plan in place. In California,…
It’s no secret that our most vulnerable population during this COVID-19 pandemic has been our seniors and older adults. They need extra protection and closer oversight because of the isolation they have been put in. The questions that remain include things like, “Who is there to make sure necessary care doesn’t fall through the cracks?” “How can I stay in…
Our clients understand the importance of estate planning. In this time of COVID-19, many people are also feeling a sense of urgency. It is important to remember, though, that the plan is only the beginning. A surprising number of our clients discover, after the death of a family member, that an asset that should have been transferred to the trust…
Jean opened the envelope that contained her aunt’s will and began to laugh. “Oh, Aunt Sarah. You and your post-it notes.” She shook her head. Jean pulled out the document. The entire front page was covered in small yellow squares of paper. “Guess she changed her mind, a few times.” Her sister, Joan, frowned. “What a mess. How are we…