When an estate is probated, the Long Beach probate court will supervise the transfer of the estate of the deceased in an organized manner. There are rules and procedures that must be followed, based on the probate laws of the state where the person resided. An executor or administrator will be appointed to oversee the Long Beach probate process. If you have the honor of serving in that important capacity, there are some common mistakes to avoid in probate administration. The Long Beach … [Read more...] about 5 Great Tips for Long Beach Probate Court Administration
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Tax Tips after New Year
The New Year is here. Can you do anything to reduce your tax liability for 2018? This article provides a few tax tips now that we’ve begun another year. Read on to learn more. Tax Tips after New Year … [Read more...] about Tax Tips after New Year
The Little Things May be the Most Important
Your estate may be worth a little or a lot at your death. The items which your beneficiaries might cherish could be the sentimental ones. Read on to learn how your will or trust could provide the ability for you to keep a list and update it without needing to see your lawyer every time you change your mind on an item. The Little Things May be the Most Important … [Read more...] about The Little Things May be the Most Important
Domestic Asset Protection Trusts
Domestic Asset Protection Trusts are spreading to more jurisdictions. However, their protections may be waning. Read on to learn more about Domestic Asset Protection Trusts. Domestic Asset Protection Trusts … [Read more...] about Domestic Asset Protection Trusts
Can Medi-Cal Take your IRA?
A common misconception that many people have is that they can make themselves eligible for Medi-Cal by, basically, giving away their assets. However, there are mechanisms in place that discourage individuals for doing just that. When it comes to IRAs, they are considered countable assets. But, there are Medi-Cal planning strategies that our Medi-Cal planning attorneys can provide to help you protect your assets while maintaining your eligibility. Income Limits For Single and Married … [Read more...] about Can Medi-Cal Take your IRA?
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...] about Top Four Reasons to Create a Comprehensive Estate Plan
Orange County Medi-Cal Planning is For Everyone
If you are over the age of 65 and still relatively healthy, that is something to be happy about. But that doesn’t mean you don’t need to consider Medi-Cal planning. Why? Because you never know if you might need long-term care at some point in your life. The worst mistake you could make is overlooking the need for Orange County Medi-Cal planning. Unexpected illness or injury can leave anyone with medical issues that require long-term care. It is reported that more than 2/3 of the population … [Read more...] about Orange County Medi-Cal Planning is For Everyone
What are the Advantages and Disadvantages of a Living Trust?
Living trusts are a specific type of trust that is effective during your lifetime, unlike other trusts that only become effective after your death. However, like all other types of trusts, the property that you transfer to a living trust will be held and managed by your chosen trustee until it is time to transfer the trust property to your heirs after your death. Why Living Trusts are so Popular? A living trust is a favorite among clients when it comes to probate avoidance. Most clients are … [Read more...] about What are the Advantages and Disadvantages of a Living Trust?
Why Avoid Probate?
The goal of estate planning for most people is avoiding probate. Why? Because probate can be expensive and it can take a long time to go through the entire process. Every estate, regardless of its size, is required to pass through probate so that the heirs or beneficiaries can receive their inheritances. Whether avoiding probate is the right thing for you depends on many factors, so discuss this decision with your probate lawyer. If you decide you want to bypass the process, here is a guide … [Read more...] about Why Avoid Probate?
When Do I Need a Tax ID Number for a Trust?
Los Angeles trust administration is basically an unsupervised process through which property is transferred from the person who has died (the decedent) to that person’s beneficiaries as specified in the trust. Our Los Angeles trust administration attorneys can assist you with all the required steps for properly administering a trust. This article will look at when and why you may need to obtain a Federal Tax ID number. CLICK HERE to watch our YouTube video on when to obtain a Tax ID for a … [Read more...] about When Do I Need a Tax ID Number for a Trust?
