Newman Law Group

March 2018 Archives

Tax law changes impact estate planning and charitable giving

The Tax Cuts and Jobs Act of 2017 is sure to have some long-term impacts on American finances. Since the change is so recent, experts are still trying to dissect the implications and make predictions about financial futures. Some people claim that the raising of the estate tax threshold will lead to a reduction in charitable giving by high net worth individuals. Others say that, for estate planning purposes, some California residents may even increase their giving, even in light of the changes. 

Making estate administration less complicated with organization

Over the years, a person is likely to amass a pile of stuff, both physically and on paper. When the time comes for estate planning, many people will choose to streamline and organize their estate to make estate administration easier for the person in charge. By applying commonly used techniques, California residents can have an easier time organizing their estates. 

Health care planning helps achieve future goals

It's as old as the fable of the ant and the grasshopper. By now, most people know that planning for the future early can be a huge help later on in life. One way that individuals plan for future goals is through health care planning. California residents may choose to take certain steps toward end-of-life care now to ensure that needs are met further down the line. 

Trust preparation includes funding the trust

For many people, preparing for the future means making an estate plan. Instead of a will, some people choose to use a trust as a way to protect assets for heirs. One common trust preparation mistake is forgetting to transfer the title of assets into it. A trust is like a storage tote -- it only protects your valuables if you put them in it. California residents looking to offer the most benefit to their successors may find this reminder quite useful.