One of the primary reasons clients seek out estate planning is the desire to preserve their estates for their loved ones. Without an estate plan, your family might be left with many unwanted consequences, including hefty tax burdens and other costs. More importantly, if you want to make decisions regarding your estate yourself, instead of leaving those decisions to a probate judge, then you want to have an estate plan. Let our Los Angeles estate planning lawyers help you get started by … [Read more...]
What is a Revocable Living Trust?
A revocable living trust is a favorite among clients when it comes to probate avoidance. Most clients are seeking ways to avoid the lengthy and expensive court proceeding. In the absence of a trust or some other estate planning tool, estates are required to go through probate. However, before you choose a living trust for your estate plan, you should be familiar with the advantages and disadvantages of this popular estate planning tool.What is a Living Trust?A “living trust” is a trust … [Read more...]
State Income Taxation
States are all over the board in their taxation of income. Some tax at a low rate, some tax at a high rate, and some don’t tax at all. Read on to learn more about state income taxation and how you could avoid it.State Income Taxation … [Read more...]
State Income Taxation of Nongrantor Trusts
States are all over the board in their taxation of income. This is doubly true when it comes to the taxation of nongrantor trusts. By using nongrantor trusts, you could avoid the state income taxation of property in that trust. Read on to learn more.State Income Taxation of Nongrantor Trusts … [Read more...]
New Tax Proposals
There are two new tax proposals being floated. One is an income tax proposal and the other is a wealth tax proposal. Read on to learn more about these proposals and whether they might impact you or your clients.New Tax Proposals … [Read more...]
Beneficiary Designations, etc., Aren’t a True Substitute for a Trust
TOD / POD, beneficiary designations, and joint tenancy can be simple ways to transfer assets at death. However, these simple methods lack some of the benefits of a trust. Read on to learn more.Beneficiary Designations, etc., Aren’t a True Substitute for a Trust … [Read more...]
Top Four Reasons to Create a Comprehensive Estate Plan
If you are like most people, you want your estate to be protected for your loved ones. One of the best ways to do that is to create a comprehensive estate plan. Without one, your loved ones may have to overcome significant tax liability and other unwanted consequences. Not having an estate plan may also mean leaving many of the decisions regarding your estate to the court instead of making them yourself. Let our Los Angeles estate planning attorneys help you create your plan now.No. 1: Estate … [Read more...]
Selecting an Agent
Choosing the right Agent under a Power of Attorney is one of the most important choices. This article discusses the qualities of an ideal Agent and qualities to avoid in selecting an Agent. Read on to learn more.Selecting an Agent … [Read more...]
Turning the Page on 2018 and Looking Forward to 2019
As we turn the page and bid farewell to 2018, we look forward to 2019. This article summarizes the major changes for 2019, both in the tax area and in other areas. Read on to learn more.Turning the Page on 2018 and Looking Forward to 2019 … [Read more...]
Grantor Trusts Provide Flexibility and Ease
A trust may be taxed as either a grantor trust or a nongrantor trust. Each type of trust has advantages and disadvantages. This article examines a grantor trust and situations in which it might be useful.Grantor Trusts Provide Flexibility and Ease … [Read more...]
