If you own a property, you’re likely very familiar with the concept (and payment) of property taxes. Property taxes are due annually when you own a piece of real property (land/building) and are generally based on the assessed value of your property at the time you bought it, plus adjustments for inflation. Typically the...Read More
A favorite gimmick of estate planning articles today are based on numbers – “8 things to protect your assets,” “10 Steps to write your will“, “6 Reasons to update your Trust,” etc. My favorite read is “17 Reasons to Update your Will” – thank you San Francisco Symphony! If this wasn’t the exact area of...Read More
The Hollywood Reporter notes that despite Jurassic World’s box office success, the newest installment “has trouble finding something to say beyond what ‘Jurassic Park’ already did 25 years ago.” I beg to differ. Jurassic World highlights some important estate planning issues in a fun filled, action packed, dinosaur laden 90 minutes. SPOILER ALERT! Ok, so...Read More
The trust battle between the Buss siblings over control of the L.A. Lakers has ended. Jeannie Buss and her brothers, Jim and Johnny, reached with an agreement for Jeannie to remain as controlling owner for as long as the family owns the famed basketball team. On February 21 Jeannie Buss, the L.A. Lakers president and...Read More
Without a Will or Trust, the state gets to decide who will get your assets. In addition, the chances of a family fight are drastically increased. Even a basic, handwritten will can go a long way – and there’s only a few requirements to make it legally valid. So why do so many Americans put off...Read More
They say that only death and taxes cannot be avoided in life. But if you are among the wealthy or personally own a business worth more than $5.45 million, you may be subject to being taxed even upon your death. The “death tax” is quite a controversial subject, with each presidential candidate weighing in on...Read More
What exactly is Separate Property? You have most likely heard that California is a “community property” state, which means all assets acquired during a marriage, by either spouse, belong equally to each spouse. In other words, despite who earns the income during a marriage, the income belongs equally to each spouse. The same is not...Read More
As an attorney who works in the Trust and Estate field, I frequently run across the question of why someone should pay an attorney to do their Estate Plan. After all, a professionally done will, trust, or other estate planning document can cost between several hundred to thousands of dollars. Is it really worth it?...Read More
Modernizing California Probate Code to Reflect Marriage Equality While attorneys are familiar with the terms “probate code” and “civil code,” most people are not. The probate code in California governs everything related to probate, including trusts and estates and elder law. As you can imagine, much of probate law makes reference to married couples. As...Read More
Elder financial predators are more prevalent than ever. Illness and cognitive impairments make seniors more susceptible to abuse than other members of the population. Seniors are also more likely to have accumulated significant savings and assets over their lifetimes. Whether it is a fraudulent scheme to collect funds, or a caregiver or relative in need...Read More
Who will have access to your social media accounts when you die? Oregon Governor Kate Brown signed a law this month that allows for the legal access of digital assets. Oregon is the first state to draft a law that specifically provides for the transfer of assets such as Facebook and Instagram accounts. In California,...Read More
Who inherits your Investment Accounts if you die? Who gets your IRA? If you can’t recall, it’s worth double checking to make sure your designated beneficiary is someone you actually want to receive your money. If you have either separated from a spouse, or they have passed, this is particularly important. When correct, beneficiary designations...Read More
