Tustin Estate Planning Law Blog
Three helpful estate planning tips for high-net-worth individuals
California is a state many people choose to spend their later years, if not their entire lives. As you reach adulthood and beyond, it's smart to think about estate planning. If you have a sizeable estate, it's important to handle it carefully. With that in mind,...
What should you really be worrying about with estate taxes?
While death and taxes are the only guarantees in life, most people won't deal with death taxes. You have to have or give away enough assets to owe gift or estate taxes. Like other taxpayers, California taxpayers use "step-up in basis" to lower their tax obligations....
Some Types of Charitable Giving
Charitable giving happens when you chose an organization that is close to your heart and give money or another asset. Living in California, there may be a specific charity that you especially like that is close to home. Or it may be a charity that spans the country or...
Considering estate taxes is essential to minimize the amount paid
While many individuals in California create an estate plan to make it easier to distribute assets to beneficiaries, paying attention to the tax consequences is essential if you're a high-net-worth individual. Understanding the differences between inheritance, state...
Can you pass on your guns after your death in California?
It's possible for you to pass on your guns to beneficiaries after your death in California, but you should know what the law will expect of them. If they don't meet certain requirements, they may have to dispose of the firearms. Temporary waiting period Your...
The role of powers of attorney in estate planning
A power of attorney is a document that authorizes one person, known as the attorney-in-fact or agent, to act on behalf of another person, known as the principal, when the principal is unable to be present. In a California estate plan, two different types of powers of...
A new ruling extends Medi-Cal protection to everyone over 50
California has often been a state known for innovation, especially when it comes to healthcare. In a landmark move, Governor Gavin Newsom signed a new bill at a recent press event taking place in Fresno County. Here's more information about this bill and how it aims...
Include a business succession plan when estate planning
Planning for the future is essential when operating a business in California. Life can come with unexpected events that must be prepared for ahead of time. Estate planning is an excellent way to accomplish this task when you want to ensure your assets go to your...
Should you leave your children equal inheritances?
Planning your estate is an important obligation for any California adult. When creating your will, you may wonder if you should leave each of your children the same inheritance. There are reasons why you shouldn’t do that. One child is bad at managing money If you...
Can you contest a will?
Assets held in a California estate after an individual passes on will likely be subject to the state's probate laws. If the deceased person had a will, the probate process is designed to ensure that the document is valid. It may be possible for certain individuals to...
