Newman Law Group

Posts tagged "Estate Administration & Probate"

Why is avoiding probate a goal for many in estate planning?

Probate is a process by which a decedent’s assets can be transferred to his or her beneficiaries, and any debts of the estate can be paid. For many individuals, however, the goal of estate planning is to avoid probate. 

How do community property laws affect estate planning?

Is estate planning affected by whether a jurisdiction is an equitable distribution or a community property state? The answer is yes, and since California is a community property estate, individuals should heed several considerations.

Special needs planning for your child

Children with special needs require additional planning and care. Special needs children often require expensive care for the rest of their lives. Many parents may think that it will be beneficial to simply leave inheritance in their will to their child. Unfortunately, this can create more problems for individuals with special needs. 

Can both spouses utilize the federal estate tax exemption?

Readers have likely heard about the spousal deduction, whereby a spouse can leave an unlimited amount of assets to a surviving spouse without triggering estate tax liabilities. However, does that mean that first spouse's federal estate tax exemption is gone?