Issues with Siblings in Estate Planning
The Wall Street Journal recently had an article entitled “Sibling Rivalry Complicates Estate Planning.” I find that this issue often comes up in estate planning and other matters. The article highlights a dispute over the estate of Jimi Hendrix. When Jimi Hendrix died in 1970, he did not leave a will. His estate had been […]
Selecting the Right Trustee
A typical misconception about estate planning is that people who are considered older should be concerned with them and that there is always time to go and create a will or trust. The problem with that thought process is that estate plans are much more than the passing of assets to another person. Estate plans […]
21st Century Estate Planning
I ran across an interesting article addressing estate planning for “modern families,” including “blended families,” same sex marriages, and multi-generational families. Many of these families could benefit from traditional estate planning in the sense that they should speak to an attorney who can address some of their concerns. However, the first step for anyone wishing […]
Estate Planning is Not Just About Estate Taxes
MSNBC recently wrote about the wealthy not creating estate plans because many of their estates fall under the estate tax exemption. In 2015, the estate tax exemption is $5,430,000 per person (meaning $10,860,000 per couple). Prior to the 2000s, estate planning was focused on estate taxes; however, with the higher exemption limits, most families will […]
Dying without a Will in California
If a resident of California passes away without having an executing a will or revocable living trust, California has an entire set of laws in the Probate Code, known as “intestacy” to determine who will get your estate. The intestate laws have a series of questions to be answered do determine who can inherit the […]
Holding Title as Joint Tenants
Joint Tenancy is a type of ownership of real estate by two or more persons in which each owns an undivided interest in the whole property. Joint tenancy is often touted as one method of estate planning; however, there are consequences you may not be aware of that could not make it the best option available. When a joint tenant dies, the interest in the property is then vested into the interest of the […]
Estate Planning for Newlywed Couples
You just are married and although estate planning might not be on the top of your list to think about, there are some important and simple steps that you can do to protect yourself and each other in the case of death or incapacity. Life Insurance A common misconception in estate planning in marriage is […]
Three Things You Need to Know About Estate Planning
The Wall Street Journal had a short article, “Three Things You Need to Know About Estate Planning” that discusses three topics: the estate tax exemption, the gift tax exemption, and the annual gift tax exclusion. During tax season, as a reminder in 2015, the estate tax exemption is $5.43 million for a single person meaning a […]
Time to Think About Your Facbeook Heir
Facebook recently has decided that a Facebook user can designate a “legacy contact” to handle his or her online presence on Facebook after that person’s death. A legacy contact will be able to gain access to the person’s page but messages may be deleted. Thus, a legacy contact would be able to add posts, change […]
Estate Planning for the Single Parent
Each person requires a different type of estate plan and perhaps also a look at why the person wants or needs an estate plan. The Huffington Post has a short article “Estate Planning and the Single Parent” that provides some ideas to think about when thinking about an estate plan. Life for a single parent […]
