A friend and colleague recently brought to my attention an aspect of our estate planning that neither of us had understood before and which had profoundly affected the family of a dear friend of hers. I am sharing this now to help spread awareness. As with many of the issues we must address in our estate planning, there is no…
Over the years I have seen clients struggle to get access to a parent’s safe deposit box after death. More than once, this seemingly simple task required us to open a probate proceeding in court, even though the deceased parent had set up a revocable trust to avoid probate. I’ve said this before: telling a client we have to do…
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…
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.…
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…