Estate planning involves an overlap with many different types of law. For instance, tax law can be a prominent component of estate planning. While not all states have an estate tax, there is still the federal estate tax to consider. Without proper planning, more sizeable estates risk losing a significant amount of value to taxation….
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What Is Considered Tangible Property in an Estate Plan?
Some people operate under the misunderstanding that they do not need to estate plan because they really do not own anything of value. First of all, estate planning is much more than how you want things of value distributed upon your death. Second of all, when you really consider things you “own” that would be…
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What Kind of Trusts Can I Use in My Estate Plan?
Estate planning is so important for a number of reasons. With the proper legal tools in place, you can find peace of mind and a sense of control in an otherwise uncertain future. While many people think of a will when estate planning is brought up, it is about so much more than that. Trusts,…
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What Is an Advance Directive?
Did you know that there is much more to estate planning than wills and planning for death? Estate planning also involves planning for the unforeseeable and unpredictable things life can throw our way. For instance, it involves planning for incapacitation. No one is immune from the unpredictable and planning for incapacitation can not only bring…
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Homestead Exemption
t is always an unexpected pleasure when amendments to government statutes provide benefits instead of increased costs. Fortunately, as of January 1, 2021, this has happened relative to homestead exemptions in California. The plan used previously has been replaced by a more sensible one with several advantages to homeowners. Nonetheless, as is typically the case,…
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What Is the SECURE Act?
This year, a very important piece of legislation was signed into law. The Setting Every Community Up for Retirement Enhancement Act of 2019 (the SECURE Act) was passed by the House of Representatives in July of 2019. It was later approved by the Senate in December of the same year as part of a year-end…
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Using a 529 Savings Plan in Your Estate Plan
Have you ever heard of a 529 savings plan? If so, you probably heard that it can be a great way to save for a child’s or a grandchild’s educational expenses. The name for this tax-advantaged investment vehicle comes from the Internal Revenue Code section that authorizes them. 529 savings plan provides a way for…
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How to Choose an Estate Planning Attorney Near You
Estate planning is an important step in protecting your future and that of your loved ones. The legal tools you can put in place with a comprehensive estate plan can do so much more than help secure the distribution you want for your assets after you pass away, which is very important in and of…
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What Is an ABLE Account?
Do you have a loved one with special needs? If so, you may be worried about how to provide for them. You see, leaving or giving money to a person with special needs can be complicated. This is mainly due to the fact that many special needs individuals rely on the continued receipt of government…
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Legal Grounds for Contesting a Will
After the passing of a loved one, there may be people that are surprised, disheartened, or outright angry about the contents of his or her will. Please know that a will cannot be challenged or contested solely on the grounds that a person does not like or agree with its terms. Emotions can run high…
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