Considerations When Adding Children On Title To Real Estate
Problem. Bob and Mary Smith are in their 70s. They want their eldest daughter, Darla, to assist them in managing their assets. So, Bob and Mary add Darla as a signatory on all of their bank and brokerage accounts and they add Darla on title (as a co-owner) to all of their real estate holdings. .. read more →
Keep Your Estate Plan Healthy With A Periodic Check-Up
Life is constantly changing. Family dynamics, relationships, world outlook, finances, family businesses and the law all change over time. It is important that your estate plan changes and grows with you and continues to meet the needs of you and your family. Just like you need to go to the doctor on a regular basis.. read more →
If You Think You Don’t Have An Estate Plan, Think Again. The State of California Has Prepared One For You.
I’ve heard many people lament that they do not have an estate plan. Unbeknownst to them, this is not true. Granted, they have not purposely prepared an estate plan nor had an estate plan prepared for them. But, they do have an estate plan. The State of California has prepared a generic estate plan for.. read more →
Saving For College On A Tax Favored Basis: The 529 College Savings Plan
Kids grow-up fast. Before you know it, they are ready to embark on their college careers. Unfortunately, the cost of college tuition has escalated substantially over the last 20 years, placing a significant financial burden on parents, grandparents and students alike. I recently performed an informal survey to find out what some California colleges are.. read more →
Designating A Guardian For Your Minor Child
Many people delay setting-up their estate plan for a whole host of reasons (e.g., “I’m too young,” “I have more important things to address now,” “estate plans are only for wealthy people,” etc.). I find that one issue that causes people to “bite the bullet” and begin the estate planning process is the need to.. read more →
Obituary Writing 101: What Not To Write in a Loved One’s Obituary
An obituary is a written notice reporting a person’s death that is generally published in the local newspaper where the person resided at the time of his or her death. It typically contains the highlights of the deceased person’s life, information about his or her surviving family members and information about the funeral or memorial.. read more →
2012 Is A Great Year To Make Gifts
The estate and gift tax law is constantly changing. In 2012, this law is very favorable for anyone inclined to make gifts to family members or friends. Generally, any transfer of cash or other assets that you make to another person without consideration during your lifetime is subject to gift tax and the requirement that.. read more →
Every Californian Needs An Advance Health Care Directive
You may recall the name Terri Schiavo even though it’s been more than 20 years since her name was initially featured in the national headlines. Terri’s situation sparked widespread discussion and legal debate regarding her husband’s right to terminate her life support. The legal battle that ensued in her matter demonstrated how important it is.. read more →
Why do we know the intimate details of Whitney Houston’s estate?
I, like everyone else, was surprised and sad to hear that singer Whitney Houston died on February 11, 2012, at the age of 48. Whitney was not married at the time of her death and was survived by her only child, daughter Bobbi Kristina Brown, age 19. Naturally, as a celebrity, people are interested in.. read more →
What happens to lucky lottery winners? Some wind up in court.
Lotto fever recently spread throughout California when the Mega Millions lottery jackpot reached a high of $656 million – the world’s largest jackpot to date. Unfortunately, no one in California won the big prize. When we experience high lottery jackpots like this one, I sometimes wonder what happens to the lucky winners after they claim.. read more →