Although Probate Code Section 6122 largely disinherits a former spouse automatically upon entry of a divorce judgment, the same is NOT true while the divorce is in process. Therefore, as soon as possible after the divorce proceedings have been initiated, you should...
Estate Planning
Q: Prop 19 is on the ballot. What does it do?
California Proposition 19 proposes changing the rules for tax assessment transfers. A vote "yes" supports the constitutional amendment to: increase the number of times that homeowners over 55 years old or with severe disabilities can transfer their tax assessments...
Q: I’ve been told I should leave an asset list as part of my estate plan. What are the top 10 items to include on this list?
A: A list will ensure that your assets are easily transferred and that your family will know exactly what you own so nothing falls through the cracks. Insurance Policies Bank and Retirement Accounts Deposit Boxes (and keys) Real Estate/Mortgages Valuable Personal...
Preguntas y respuestas sobre la herencia de las propiedades inmobiliarias
Para muchos, parece como un sueño hecho realidad. Un lejano tío sin otros herederos fallece, solo para dejarte una magnífica propiedad frente al mar. Mientras que a casi todo el mundo le encantaría heredar la casa de ensueño después de la muerte de un pariente o amigo...
Protecting an inheritance in a divorce
In most cases, any inheritance money that you receive is yours to keep regardless of your marital status. This is generally true whether you obtain the funds prior to getting married or during the course of a marriage. However, California law generally considers any...
Q: How do I keep my children from blowing away their inheritance?
A: If you have children who cause you to lay awake at night wondering how they might waste their inheritance, make sure to tell your trust attorney. Evaluating the maturity, spending habits, and bad choices of your children will help determine how you should plan for...
Q: Is estate planning only for wealthy families?
A: No! Estate planning is essential for every family. Even if you're not wealthy, you should at least have a will, a financial power of attorney, and a power of attorney for health care. A will names who will receive your belongings after your death. It also names who...
¿Esta comprando o ya es dueño de una casa? Planifique ahora para después de su muerte.
A medida que usted comience a poseer bienes inmuebles, una cosa que debería planificar es cómo transferir esas propiedades a sus herederos en caso de su muerte. Un buen plan para transferir su casa puede ayudar a evitar que, después de su fallecimiento, su familia...
Q: I only own one property here in Napa, and it still has a sizable mortgage on it. Do I still need a trust for my children to avoid probate upon my death?
A: Yes, without a trust that property is destined for probate, and here’s why: The current law states that if the fair market value of the property is greater than $166,250 - and it’s hard to imagine a home in the Napa area that is worth less than...
How can a parent leave money for a child with special needs?
It may not matter how old your child becomes. As a parent, you will probably always want to make sure your child has what he or she needs to lead a comfortable and fulfilling life. This may be especially true if your child has special needs. Financial support may be...
