How Much is Probate?
One of the major reasons I recommend revocable living trusts to my clients is the high cost of probate, particularly for smaller estates. Costs for probate are determined by the Probate Code. Thus, if you hire an attorney to handle the probate of a person who has died, the attorney’s fees are determined by the […]
End of the Year Estate Planning Reminder #2
Before 2014 comes to a close, it is important for those with extra cash or assets on hand to consider using the annual gift tax exclusion of $14,000 per year per recipient. A married couple can give $28,000 to any person without filing a gift tax return. Gifts must be made and checks deposited by […]
Year End Estate Planning Reminder #1
The end of the year, combined with the holidays and seeing family, is as good as a time as ever to review your estate plan or get an estate plan. This week I plan to write about some reminders that you should think about as the end of the year is close in order to […]
Using Joint Tenancy as an Estate Planning Tool
I often hear from clients and potential clients that they want to add a relative’s name to a piece of real estate as “joint tenants” in order to avoid probate. Although this is probably the cheapest estate planning tool you can do in the short term, it is the least favorable for most circumstances for […]
Estate Planning for Childless Couples
The Wall Street Journal recently had an article entitled “Estate Planning for Childless Couples” that emphasizes the importance of different estate planning tools for your personal situation. I often tell people who do not have children that estate planning may have even more important repercussions for them than people with children because if you die […]
6 Estate Planning Moves You Should Make in Your 30s
Daily Finance has an interesting article for estate planning that should be addressed in your 30s. Estate planning is often equated with older people; however, there can be some estate planning moves that you can make as you are younger that might make sense. In addition to having a will, a revocable living trust, a […]
Using a 529 College Savings Account for Estate Planning
Marketwatch has an interesting article on how you can use a 529 College Savings Account as part of your estate planning process. Estate planning is all encompassing so it is important to use a variety of tools to give gifts, minimize taxes, and make your wishes known. The article discusses the importance of using a […]
Estate Planning for Young Families
Many couples with young children or those without children yet do not think estate planning is for them. Estate planning is often associated with old people or those with large estates. However, estate planning is important for young families just as it is for older people and those with lots of assets. Unfortunately, even a […]
Memorial Day Weekend Discounts
For Memorial Day, Marinaccio Law is offering a 10% discount on all estate planning services for current U.S. military, U.S. military veterans, and law enforcement. Marinaccio Law offers a variety of services for estate planning, including drafting revocable living trusts, wills, advanced healthcare directives, and powers of attorney. This discount is good through May 30, […]
Probate, Inheritances, and Property Taxes
The title to the article sums up USA Today’s article Divorce, Death, and Donald Sterling’s Boyhood Home. The article describes several properties in Boyle Heights still owned by Donald Sterling’s deceased mother and grandmother. In California, property taxes are determined by “assessed value,” which is derived from the fair market value of a property at the time […]
