As 2019 draws to a close, it may be time to take a fresh look at your financial and legal documents to ensure that your affairs are in order and that you are ending the year on a solid foundation before the estate planning year-end. This is especially important if you’ve experienced any notable life […]
Gift Tax
Is It a Bad Idea to Add My Kids to Title of My Home?
We often get asked this question: “wouldn’t this just be an easier way to avoid probate?” The reality is that is, of course, an option. However, there are many pitfalls (we detail 7 here) with that approach that get overlooked or are unknown. Watch this video to get the information you need before making such […]
Planning on Giving Money this Holiday Season? 5 Things to Consider
The holiday season is a time to enjoy friends, family, and loved ones. Often we consider our life circumstances and may get in the spirit of giving. This is particularly true if you are at a point in your life were you have enough from a financial standpoint. If you are planning on giving money […]
How to Plan for Your Client’s Growing Family
If your clients are having a child, adopting, or marrying a spouse with children, you may already be meeting with them to discuss the family’s finances—everything from managing current costs to providing for the children’s future. But in those discussions, give them a huge gift: Let them know an estate plan is essential for any […]
The New Tax Laws and Estate Planning Solutions for Your Clients
On December 22, 2017, President Trump signed into law a sweeping tax reform bill commonly known as the Tax Cuts and Jobs Act that went into affect this year. As you know, this new Act contains several significant changes that will impact many of your clients. Your clients suspect so, too, which is why you […]
The Key Issues with Transfer on Death Deeds
We often meet with families who want to ensure their home can be protected during their lifetime and left to their children when they pass on. Unfortunately, there is a significant amount of confusion over the “right way” to complete this planning. Many people have been misled as to the type of planning they need. […]
How Overlooking Medi-Cal Planning Will Cost You
Most of us know that we need estate planning. We know that we need to name a decision maker who can act on our behalf should we become incapacitated. We understand that we need to create a will or a trust to make sure our assets are distributed to the people we want to receive […]
Inheriting Your Parents’ Home? Do These 3 Things First.
Recently we have been encountering a number of adult children who are are having difficulty administering their parents’ estates after they pass away. One problem area has been with property tax reassessments. While a property tax reassessment can be avoided when a child inherits a parent’s’ home under California law, this parent-child exemption is not automatic! Instead, a Claim for […]
Is it Time to Add Charitable Planning to Your Estate Plan?
Planning your legacy is no small task. When you begin estate planning with your legacy in mind, you are contemplating not only how to provide for your spouse and children, but how you can ensure the causes and organizations you care most about can continue long after you are gone. Gifts to those outside your […]
Helpful Gifting Strategies for Beneficiaries
Everyone loves giving gifts at the holidays and the exchange of joy it brings. But have you considered how gifting to your loved ones can be part of your estate plan and the legacy you leave? Gifting strategies are for everyone, not just for the wealthy. If you have amassed any kind of assets in […]
How to Build a Care Plan for Disability and Incapacity
Every day we make decisions. Sometimes they’re simple like choosing what to eat for lunch or what to wear. Sometimes they’re a little more complicated like deciding how to manage our hard-earned money. Big or small, these decisions have an impact on how we care for ourselves and others. Indeed, many of us have spouses, […]
Some Food for Thought When Reviewing Your Estate Plan
Estate planning is an ongoing process, and an estate plan review should be done every few years to ensure that your unique goals and needs are still being met. As I’ve mentioned before, your planning should never be merely a set of documents you execute once, stick on a shelf, and never look at again. […]
7 Reasons to Review Your Estate Plan in the New Year
Happy New Year and Congratulations! At some point in the past you have taken the necessary steps to create an estate plan that protects your loved ones and your family’s financial future. Whether you are from Orange County, Southern California, or somewhere else in the country, you are ahead well ahead of the curve. Surprisingly, […]
Last Minute Tax Write-Offs You Should Be Aware Of
We’re quickly approaching the end of the year, which means it’s time for holiday festivities, gift-giving and getting ready for another tax season. There are several tax write-offs you may not be aware of that can make a difference on next year’s tax return. The following is a list of tax deductions and charitable giving […]