The new tax laws increased the estate, gift, and generation-skipping transfer (GST) exemptions to $11.2 million in 2018.  The annual gift exclusion has been increased to $15,000 in 2018. It is still very important to plan even with the new tax laws.  The tax laws related to estate planning automatically expire after 2025.  Also, many states have estate taxes as well.  While California currently does not have an estate or inheritance tax, that could…

While the typical holiday get together includes great food, a gathering of those we love the most, and festivity, it's also a perfect time to discuss Estate Planning. Chances are, the members of your family are all present, which provides an opportune moment for everyone to communicate their needs and wishes for assets. When you document detailed instructions in an Estate Plan in the event you die or become incapacitated, you are avoiding any stress…

https://youtu.be/Vi_IUce_YUU It is very common for clients to come to me regarding their estate plans when they have blended family issues.  Blended families are not only the result of divorce.  Many individuals live longer now and may want to remarry if they outlive their spouse. If you are a member of a blended family, you will want to make sure your estate plan is well-suited to your specific needs.  A well-drafted estate plan can help…

Owning a business allows many freedoms and possibilities, but it also comes with a sense of responsibility to protect your future, your family, your net worth, and your estate. If you are a business owner, it’s in your best interest to perform your due diligence when it comes to matters of how your business can affect your personal taxes as well as your estate planning. Contacting a tax law and estate planning attorney with any…

  While irrevocable trusts tend to make some grantors uneasy, as they associate an irrevocable trust with words such as irreversible, final, and unalterable, the truth is, it is possible in some instances to revoke an irrevocable trust. Cases to Support an Irrevocable Trust A trust and estate planning lawyer will ease your concerns about an irrevocable trust by informing you of statutory provisions that allow you to make provisions to your trust. In the…

https://www.youtube.com/watch?v=d3aO7hnIDZE In California, a will can be revoked by a new will that specifically revokes the old one, or by destroying the will by physical act.  A physical act can include burning, tearing, canceling, obliterating or destroying the will.  This must, however, be done by the person who created the will. A revocable living trust revocation is different.  It is governed by the terms of the trust.  For example, the trust may allow for revocation…

https://youtu.be/uZUX-1YnWgs When Do You Need to Update Your Estate Plan? Any time you undergo a significant life event such as: Marriage First Marriage- In California, your spouse does not receive 100% of your estate under the laws of intestate succession; specify whom you want to receive your assets when you die. Subsequent marriages- If you leave all of your assets to your new spouse, they are not obligated to give whatever is left to your…

  It’s not uncommon for clients to come to me with questions and concerns regarding their elderly parents. Clients want to know how to address estate plans with their elderly parents, a topic that can often be uncomfortable for both parties. In other cases, clients are worried about elderly parents who have the onset of dementia or Alzheimer’s and may or may not have an estate plan.  Wanting only the best for their parents, these…

https://www.youtube.com/watch?v=qAhCp1YHbhw As a tax and trust lawyer with experience in litigation, I can help my clients navigate different estate planning situations. As an Estate Planning Lawyer in Walnut Creek, I can: Prepare, execute and amend estate plans Help families navigate through difficult or uncomfortable times Facilitate communication between family members Advocate for my clients to make sure they receive updates and information Help resolve wrongful actions by a trustee Clear up issues after a loved…

Estate planning is essential if you want to secure your long term financial goals, health care needs, and the security of your loved ones. A well-crafted estate plan can address potential complications before they arise, taking the chance out of your financial future, and giving you full control over how your assets and healthcare are managed. When you are looking for a trustworthy estate-planning attorney, here are some basic questions you can ask: What is…