A: Under Prop 13, property taxes can only be increased a MAXIMUM of 2% annually (until the property is transferred). In practice, this law is so critical because property values in California have historically increased by far more than 2% per year,...
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...
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...
As you start aging and own real property, one thing you need to plan for is how to pass on that property after you pass away. A good plan for your home and other properties can help prevent your family from going through a lot of stress after you die.Deciding how you...
When you own a business, you need to include it in your estate plan. Not including it means that the business could be passed on to a beneficiary that you didn't designate after your death. It could be sold or run in a way that you would not have approved of.When...
For many, it sounds like a dream come true. A long-lost uncle with no other heirs passes away, only to leave a magnificent beachfront property to you. While nearly everyone would love to inherit a dream home after a relative or close friend dies, the reality is...
Your family business is likely more than one thing. It could be a mainstay of your family throughout generations, a source of income and employment, a place of fulfillment for multiple family members and more.As the owner of your California company, bar, restaurant,...
As you establish your estate plan, you'll likely consider all the members of your family. Though many people consider their four-legged companion to be a loved one, the law deems a dog personal property.As such, you can't leave money to your dog. However, that's not...
A solid estate plan includes many details. A major one is having the right executor, or personal representative, whose job it is to fulfill the wishes of the testator -- the person who makes the will. It takes special skills to be an executor due to many legal and...
A lot of people think estate planning matters only when you are old or you are rich. That is not the case. According to a recent Gallup Poll, only 4 in 10 Americans have a will. The statistics are even more staggering when looking at younger Americans. In 2016, only...
