A: This is a common concern and it can be addressed well with proper estate planning. When you and your spouse create a trust, you will choose at what age or ages your child will receive the assets of the trust after you have passed away. You will also nominate a...
A: Yes you do! And more importantly, without a trust, the probate laws of California would not only consider you the owner of the property at your death, but would also charge your heirs probate fees based on the fair market value of the home and NOT on the amount of...
A: No! Under recent law changes, the TOD deed now needs to be both notarized and witnessed by two disinterested parties (the Notary Public may act as one of the witnesses). Moreover, in order to be valid, the TOD deed must be recorded within 60 days of the...
A: Yes - chocolates and an estate plan! Creating a comprehensive estate plan will give you and your spouse peace of mind regarding your end of life wishes and avoid the expense of probate or emergency planning in the future. Happy Valentine's Day!
A: Yes! The only requirements for a holographic will to be valid are that 1) the material provisions of the will are in the testator's hand-writing (the person writing the will) and that 2) the will is signed by the testator. In fact, per the probate code...
A: If your beloved pets are like family to you, a pet trust can be an ideal way to ensure their well-being after you're gone. Here's how a pet trust works and why it's particularly suitable for pet owners who consider their animals as their "fur babies": 1. Legal...
A: Choosing to work with a skilled estate planning attorney over DIY options like LegalZoom can significantly impact the effectiveness and reliability of your estate plan. Here's why: 1. Personalized Advice: An experienced attorney provides personalized guidance...
A: Absolutely! This is a very common scenario, and most attorneys have a specific workflow and process designed for that exact situation. In fact, even if a particular attorney is still practicing, an client always has the right to switch attorneys at any time if they...
A: As of January 1, 2024, the annual gift tax exclusion amount is $18,000 per recipient. This means that you can gift each of your children up to $18,000 this year without incurring any gift tax. If you are married, you and your spouse can each make gifts in the...
A: Yes, you can! In California, two individuals can take title to real property as tenants-in-common, and in whichever percentages the owners agree on. For example, your sister could own an 80% interest as a tenant-in-common while you own a 20% interest as a...
