Recent Articles
Yes, No, But Not Maybe So
If there is ever a time to be 100% clear, bold, and direct, estate planning is one of them. Whether you are making a simple will or a detailed living trust, your words should leave no room for confusion, uncertainty, or ambiguity. Any time an “hhhmm” or a “maybe so” arises from an estate… Read More »
A Happy Ending
Don’t you just love it when a story has a happy ending? I know I do. Sometimes most of us need one of those feel good movies or stories to remind us of the good things in life. In my practice I often see cases involving family members who don’t get along. Some have… Read More »
Strike One … Strike Two
My husband loves baseball, so much so that when we go to a major city he sometimes makes it a point to visit the local baseball stadium. He is fond of saying corny stuff like “Baseball is precious, that’s why it is played on a diamond”. As for me, I thought it might be… Read More »
A More Powerful Power of Attorney
As you may already know, the power of attorney (POA) form gives your agent the authority to take care of most of your financial transactions for you if you are incapacitated or otherwise unable to handle them for yourself. Your agent can do things like write checks from your account to pay your bills,… Read More »
Collecting the Small Estate
When someone passes away with a bank account that stands solely in his or her name without a beneficiary designation, the bank will likely “lock” the account upon learning of the death of the account holder. Only upon presentation of proper legal paperwork will the account be “unlocked” and distributed to the person(s) with… Read More »
Emancipation and Estate Planning
February is the month when our country takes time to remember and celebrate Black History. We give honor to our great ancestors and rejoice about how far we’ve come. In parades, poems, church services and school performances, the nation commends the leaps and bounds we have traveled and the heroes who have guided us… Read More »
And the Award Goes To…
I love movies, especially a good drama or “tear-jerker”. Sometimes the most fascinating ones are those that are based on true stories. In my practice I have seen quite a bit of drama and tear-jerkers as a result of the lack of estate planning. Academy Award season starts me to thinking about which of… Read More »
The Art of Giving
When designating the distribution of an estate to beneficiaries, there are basically two levels of gifting. The first tier of gifts is known as “specific gifts”. The second tier is known as “the residue”. Specific gifts are those items that are particularly described and set apart for a particular beneficiary. The item can be… Read More »
The Cast of the Living Trust
In talking with clients, it is sometimes apparent that there is misunderstanding regarding the titles and roles involved in the cast of a living trust. This article is an attempt to shed some light on the matter. The person creating a trust can be called by several different names. Grantor, trustor, and settlor are… Read More »
Taxes, Death, and Trouble
When someone passes away, there are three separate taxes to consider: property taxes, income taxes and inheritance taxes. Here is some general information concerning these taxes, however, I am not a C.P.A. or a tax professional. For further information or tax advice, please see a qualified tax professional. As most California property owners know,… Read More »