“One wrong decision can lead to expensive consequences, and good luck trying to persuade the IRS to give you a do-over.” For those who inherit IRAs, the intersection of taxes, estate law and financial planning can be a tricky place. There are many choices, maybe too many, and making the wrong choice can be costly, […]

“If you like the way the laws are today, you need to take advantage of them now, before they are changed tomorrow. In other words, use it or lose it.” The pundits are saying that the if Democrats win the White House and possibly Congress, expect changes to income, gift generation skipping transfer and estate […]

“One in four American adults live with a disability, according to the Center for Disease Control. One in 10 adults over the age of 65 has Alzheimer’s or dementia, according to the Alzheimer’s Association.” Planning for incapacity is just as important as planning for death. One is certain, the other is extremely likely. Therefore, it […]

“The BENES Act, which cleared committee Wednesday, aims to minimize the chance that beneficiaries get slapped with life-lasting late-enrollment penalties.” More older workers are remaining in the workplace. In 2016, about 60% of 65-year-olds were receiving Social Security benefits, compared to 92% in 2002. Consumer advocates expect that change to result in a growing number […]

“Has the Covid-19 stock market volatility caused your retirement accounts to decline? Will the temporary suspension of required minimum distributions (RMD) or a reduction in your compensation lower your 2020 tax liability?” With a combination of lowered 2020 tax liability, the potential for future tax increases and potentially lower portfolio values, we are in uncharted […]

“If you have updated your estate plan during the Covid crisis and even found a way to sign your documents while maintaining social distance, do not overlook the last step of trust funding.” Neglecting to fund trusts is a surprisingly common mistake, and one that can undo the best estate and tax plans. Many people […]

“Probate is the court process to distribute someone’s estate after their death, even if there is a will and is notoriously slow in California.” The nature of the probate process varies from state to state, and even varies from county to county. However, the nature of the process is the same. A court has to […]

“Sometimes beneficiaries end up not receiving their assets. Beneficiaries often lose out because the estate planning wasn’t done properly, but sometimes another family member contests the decedent’s will.” What happens when estate planning doesn’t go according to plan? A last will and testament is a legally binding contract that determines who will get a person’s […]

“Having a child with special needs can come with all sorts of unique challenges from a financial and estate planning standpoint. Public benefits, for example, can play a huge role in anticipating how much money your child will need down the road in your later years, as well as when you’ve passed away.” Many government […]

As you plan how you will leave your estate, it is important to understand the estate planning process and ensure that you leave a legacy with well-executed documents. It’s also essential that you understand all of the roles of the people involved in your estate, especially the person or organization who will manage your estate. […]