Estate Planning And Business Law In Napa Valley And Beyond

Q: If my previous estate planning attorney is now retired, can I have a different attorney take over my file and make updates to my documents?

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...

read more

Q: I would like to make gifts to my children this year, but I am concerned about gift taxes. What amount can I give each child without being taxed?

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...

read more

Q: One of my 2024 goals is to purchase a California investment property with my sister, but she is able to invest more than I can. Can we own the property together in different percentages?

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...

read more