Recent Articles
Property Taxes and Estate Planning
Unlike residents of some other states, Californians are privileged to have several favorable rules regarding property taxes. The biggest advantage is Proposition 13 – the initiative passed by voters in 1978 to keep people from being priced out of their homes by runaway property taxes. Under Proposition 13, the annual real estate tax on… Read More »
Estate Planning for Your Pet
You may have heard of a case a couple of years ago in which a very wealthy lady left several million dollars for the care of her pet. While some think such a thing is absurd, it is a fact that some people are very fond of their dogs, cats, horses or other pets…. Read More »
One Property, Many Probates
On several occasions I have handled multiple probates for the same piece of real estate. When someone passes away owning real estate that is not in a living trust or owned in joint tenancy with another person, the property must go through probate to change the ownership to the beneficiaries under a will (or… Read More »
Resolve to Make or Update Your Estate Plan
The beginning of a new year is a time for reflection on the year gone by and planning for the year ahead. Many people will make New Year’s resolutions, often involving getting their financial affairs in order. Wouldn’t it be wonderful not to have to worry about what will happen to you or your… Read More »
Be Careful With The Family Home
Thoughts of “the family home” usually bring fond memories – a familiar place that serves as an anchor for relatives and friends. I have many clients who have lived in their homes for three or four decades and now, in spite of the economic downturn, enjoy a substantial increase of their home’s value over… Read More »
Estate Representatives
An important part of creating an estate plan is the selection of the person who will take over your financial matters for you after your death. If you have a living trust, that person is called the “successor trustee.” If you have a will, that person is called the “executor.” Your successor trustee or… Read More »
The Importance of Proper Beneficiary Designations
We are all busy and have a long list of “things to do” that we keep putting off. One of those “things” that should be done periodically is reviewing and verifying the beneficiary designations on our various accounts. Most financial institutions require that you fill out a beneficiary designation. It tells the financial institution… Read More »
The Homestead Exemption
In these days of rampant debt faced by many of us, protecting the family home through a declaration of homestead could take on new significance. When financial obligations go unpaid, a person’s creditor can go to court to seek payment of the debt. If a judgment is obtained against the debtor, the creditor can… Read More »
“Medi” What?
As an estate planning attorney, I am sometimes asked to assist an elderly person meet his or her health care needs through public benefits. The rules and regulations regarding public benefits are very complicated and are forever changing. Therefore, I always refer persons seeking this type of assistance to an attorney who specializes in… Read More »
Myths Concerning The Living Trust
Based on my conversations with various individuals, it appears that there are some common misconceptions about what a revocable living trust can and can not do. I’d like to take a moment to explore three of the most common myths that give rise to these misconceptions. Myth 1: “If I put all my assets… Read More »