A recent survey revealed that only approximately four out of every 10 American adults have a will, which exemplifies our tendency to underestimate the importance of estate planning. When people talk about their hesitation to prepare an estate plan, a handful of typical concerns come up: they think they’re too young for an estate plan, Read More…
Planning For Your Digital Assets
In this growing age of technology, one’s digital assets should be included or at least considered when creating an estate plan. When we prepare an estate plan for a client, we ask them to list all of their assets so that we can discuss how they want each asset to be distributed or handled upon Read More…
Pet Trusts And Other Options To Care For Your Pets When You Are No Longer Able
Most people are well aware that estate plans can ensure that their families, and especially children, are cared for if something were to happen to them – but what about pets? Many people are starting to realize that it is also important to prepare a plan for the care of their pets after their death Read More…
Pass It Down — Keeping The Tax Basis In The Family
A change in ownership in real property will, unless an exception applies, trigger a reassessment by the County Assessor’s Office. The property taxes will be recalculated based upon the appraised (and most likely increased) value of the property. There are exclusions to the rule, however, including the Parent-Child Transfer Exclusion. You may qualify for this Read More…
New Bill Impacts Voting Rights For Persons Subject To Conservatorships In California
California recently amended its laws regarding the limitation of a person’s right to vote based on his or her mental incompetence and conservatorship status. Specifically, Senate Bill (SB) 589 amended several sections of the Elections Code and the Probate Code related to the voting rights of persons subject to a conservatorship (conservatees). Prior law required Read More…
Understanding The Basics Of A Personal Property Memorandum
When a will or trust refers to a separate statement or list directing distribution of specific items of personal property, that separate document or list is often referred to as a personal property memorandum. In California, a properly prepared and referenced personal property memorandum is valid and can be a very helpful document in guiding Read More…
How Effective Is A No Contest Clause In A Will Or Trust?
A “no contest” clause is a provision in a testamentary instrument (usually a will or a trust) that penalizes a beneficiary if he or she “contests” the instrument in a court action, usually by way of revoking any gift they may have been otherwise expressly given under the instrument. Many of our estate planning clients Read More…
Nevada Guardianship System: Ripe for Abuse?
In Nevada, guardianships generally begin when a concerned family member or social worker petitions Family Court to appoint a guardian for someone who cannot care for himself or herself because of age or mental or physical problems. In Clark County, the case goes to the Guardianship Commissioner, an appointed hearing master who oversees all such Read More…
