Why every parent needs a will
What if you know exactly who you want as your child’s guardian? Or if you know exactly who you would not want to be guardian? You need a will if you want to choose who takes care of your child if you were to die before they reach 18.
Should Californians be prepared to pay estate tax by 2021?
California has not had any kind of a statewide estate, gift, or generation-skipping transfer tax since prior to 2005, however, with the proposal of a new bill introduced by California State Senator Scott Wiener, that could all change.
Not Talking About Estate Planning Is More Expensive Than It Sounds
On behalf of Lisa Bryant of The Law Offices of Lisa C. Bryant, Inc. posted in Estate Planning on Monday, April 10th, 2017.
Estate planning, like politics and religion, is one of those topics people tend to avoid in polite conversation. There can be many reasons for this…
Did You Remember to Designate a Beneficiary?
Did You Remember to Designate a Beneficiary? When reviewing current beneficiary designation or if you are completing these forms for the first time, you need to consider not only who the primary beneficiary is, but also what happens if that primary beneficiary predeceases you.
The Cost of Aging
Healthcare does not have to wreak financial havoc on your retirement if you plan properly. The first step towards financial freedom in your golden years is research. No one can hit a target they can’t see, so blind estimates about costs are futile and potentially dangerous. It’s never too late to start developing a retirement budget, and the best way to do so is to get hard numbers.
Storing Your Estate Planning Documents—Finding the Right Place
You finally committed to making an estate plan, and now you are in possession of a big binder or envelope full of your original documents. Now, the question is where to put it, or if you created your documents many years ago, do you know where they are? Here are some tips to keep these documents organized, handy, and safe.
Love and “Marriage”: Effects of Different Relationships on Your Estate Planning
Many people assume that if you have been a couple for a long time in California, that you eventually become legally married under common law. California does NOT recognize common law marriage regardless of how long you have been together, and/or if you declare to others that you are married. Under California law, unless a couple is legally married or has a legal domestic partnership, the surviving life partner may not be provided for by the estate. Learn how to avoid this!
New Tax Fix AB Split – Your Living Trust May Be Too Complicated
Federal estate taxes have been significantly decreased, effective as of Jan. 1, 2018. For single individuals, if you die in 2018, there is no estate tax imposed unless you own more than approximately $11.2 million. For married couples, the estate tax exemption is now over $22.4 million per couple. This exempt amount will continue to increase until Jan. 1, 2026, when the law automatically sunsets and the exemption returns to approximately $5 million per person. Learn more about the New Tax Fix AB Split.
Pre-planning Your Final Goodbye—Why you should consider prearranging your disposition.
A good estate plan typically includes a Health Directive where you appoint a trusted friend or family member to not only make medical decisions for you, but to also take care of how your remains are handled at your death.
Estate Planning Laws Change: Do I still need an A/B/C trust?
There have been significant to the laws in the past 5 years. In 2012, congress enacted the American Taxpayer Relief Act of 2012 (the “Act”). The most relevant changes in the law that impact the average living trust include tax exemption changes and portability. Learn more…