A: 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...
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...
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...
A: One valuable tip, although insurance-related and not necessarily a legal tip, is to contact your insurance agent and have them revisit and advise you on your replacement cost average on your homeowner's insurance. You want to ensure that, in the event you lose your...
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...
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...
A: Although a will is an essential piece to an estate plan, on its own, a will does absolutely nothing to help keep your family out of probate. Having said that, just because you only have a will does not automatically mean your estate will be subject to probate. For...
A: If probate is necessary, someone must come forward to start the probate process, which generally lasts six months to a year and consists of three main phases: 1) Appointment of the executor/administrator; 2) Administration of the estate; and 3) Closing of the...
A: Probate is an acronym that stands for “Painful Robbery Of Bank Accounts, Time, & Energy”. OK, so maybe it’s not actually an acronym, but that’s still a very accurate description and easy way to remember why it’s so terrible! Technically, probate...
A: The law giveth, and the law taketh. Fortunately, if the original deed triggered a reassessment, we can use a “Rescission Deed” to return ownership to the previous owners (as if the previous deed had NEVER existed!). However, there are two CRITICAL...
