Filing for bankruptcy in California can offer relief if you're struggling with debt, but how does it affect your mortgage? Bankruptcy can have different impacts depending on the type of bankruptcy filed and your specific financial situation. Understanding the...
Redwood City California Bankruptcy Law Blog
How do taxes affect your estate plan in California?
California does not impose a state estate tax, but federal estate taxes still apply. In 2024, the federal estate tax exemption is $13.61 million per individual. Estates that exceed this threshold may face tax rates of up to 40%. While California does not have its own...
The importance of updating your estate plan
Estate plans provide crucial guidance to protect loved ones and ensure that a person’s wishes are honored after their passing. However, an outdated estate plan can lead to confusion, unintended outcomes, or even disputes among heirs. Regular updates ensure that an...
What government benefits need addressing in probate?
Government benefits play a significant role in the lives of many individuals, especially when dealing with estate planning and probate. After a loved one passes away, government benefits can influence the probate process. This blog discusses how Social Security,...
A straightforward overview of the formal probate process
The formal probate process in California involves several steps to ensure that a deceased person's estate is properly managed and distributed. This process occurs under the supervision of a court and typically applies when the estate is large or complex. This...
How trustees assess home value in California bankruptcy sales
When facing bankruptcy, understanding how entities determine your home's value is crucial. In California, this process involves a trustee who plays a key role. Their responsibility is to ensure that the value of your home gets accurately assessed, benefiting both you...
Can creditors force you to sell your home?
Homes offer people a sense of security. They also offer avenues for identity and self-expression, reflecting their owners' personalities and lifestyles. If you are dealing with creditors in California, you may worry about the extent to which creditors can pressure you...
What makes a change of trustee suspect?
When creating an estate plan, one of the most important decisions is selecting a trustee to manage assets for beneficiaries. The trustee has significant control, so any changes warrant scrutiny. There are several warning signs that indicate potential suspicion with a...
How to avoid being accused of financial abuse as a trustee
Serving as a trustee can be an honor and provide peace of mind that you can carry out a loved one’s wishes. However, the role also comes with solemn duties and legal obligations. As a trustee, you have a fiduciary responsibility to manage the trust assets solely for...
How to let go of money shame
According to Debt.org, the amount of debt in American households reached $16.9 trillion in 2022. Facing financial issues can be a stressful and emotionally taxing experience, but it happens to many people. Still, there may be a sense of money shame when your financial...