Newman Law Group

October 2018 Archives

A will should still be written down in the electronics age

Today, more and more of one's life is taken up by or expressed on digital devices in California. Television is available on any device and reading an actual hard copy book is becoming less common. People send e-mails and e-cards in lieu of actual cards or letters. In this age of electronics, there is still one document that is best if crafted on actual paper; that is a last will and testament.

Solid preparation of wills can reduce contests

It is possible that few in California realize how much contention they create with their estate plans. Leaving behind wills that are poorly considered or do not clearly define the writers' intentions is a recipe for disputes and battles. This may be the opposite of the goals of one's estate plan. However, there are some steps one can take to reduce the possibility that the heirs of the estate will contest the contents of the will.

An FLP's impact on reducing estate taxes

A wealthy family in California may be considering moves that can be taken to preserve family wealth from taxes with the advent of the new tax laws. There are mechanisms that can be used when reducing estate taxes. The current exemption of $11.18 million went into effect in 2018. This means that an estate valued at less than that is not subject to the federal estate tax.