When a marriage ends in dissolution, assets are divided by court order between the spouses. In California, which is a Community Property State, the character of each asset determines the division — separate property (goes to one spouse), community property (is divided 50:50 between spouses), and mixed property (where an asset has both separate and […]
posted on: September 5, 2018
Read MoreWhen visiting a cemetery, besides hopefully seeing beautifully manicured lawns, you often see family members who are buried alongside one another. These are family plots with multiple internment spaces. How are family cemetery plots owned and transferred, and who can be interred in an available space? Title to a cemetery plot is either in the […]
posted on: August 15, 2018
Read MoreAchieving Better Life Experience Accounts (“ABLE accounts”) are tax advantaged savings accounts relevant to certain persons who receive Supplemental Security Income (“SSI”) and who became blind or disabled before their 26th birthday. Section SI 01130.740 to the SSI’s Program Operations Manual System (“POMS”) provides useful guidance on ABLE accounts. ABLE account allow beneficiaries (i.e., the […]
posted on: April 25, 2018
Read MorePeople work long and hard to get their businesses up and running. Especially, small or family owned businesses with limited resources. There are endless challenges that businesses face during every stage of their development. Fortunately, most successful business owners have figured out how to keep their companies competitive in an ever-changing economic environment. However, many […]
posted on: March 1, 2018
Read MoreIn California, a trustee has a fiduciary (legal) duty to invest and manage trust assets impartially for the benefit of all the beneficiaries. The trustee must make all assets economically productive, unless the trust provides otherwise. The trust instrument may provide specific rules regarding the trustee’s asset management and investment duties, authorities and powers. Otherwise, […]
posted on: January 25, 2018
Read MoreThe federal Revenue Reconciliation Act of 2017 (“2017 Tax Act”) increases the lifetime federal unified Estate and Gift Tax exemption and the Gift Tax annual exclusion amounts applicable during the eight year period covering January 1, 2018 through December 31, 2025. The federal Estate Tax exemption has effectively been doubled to more than eleven million […]
posted on: January 11, 2018
Read MorePosthumous Firearms Estate Planning Planning for all aspects of posthumous distribution is imperative within your estate planning. California Gun Laws Compared with most other states, California has restrictive gun laws. When relocating to California, persons must register their firearms with the California Department of Justice, Bureau of Firearms. A $19 fee is required. Also, handguns […]
posted on: October 19, 2017
Read MoreWhen you consider estate planning, you usually think about the “big picture”. Doing so, helps to ease the burden on your surviving loved ones of managing your estate after you die. However, to ensure the overall success of your estate plan, you will want not to overlook certain possible situations that might arise. A qualified […]
posted on: September 26, 2017
Read MoreServing as an executor of a will or as an administrator of an estate with no will can be a complicated and demanding responsibility. This is especially true for someone working as an executor or an administrator for the first time. Many legal responsibilities are imposed upon a person who is administrating an estate. In […]
posted on: September 26, 2017
Read MoreSome people choose to prepare their own estate planning documents using “do it yourself” estate planning programs in order to avoid attorney fees. Having administered some wills and trusts that were so drafted by now deceased laypersons I can provide some observations regarding possible pitfalls. Having a trust that is […]
posted on: January 26, 2015
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