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...
Estate Planning
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 However, an outdated estate plan can lead to confusion, unintended outcomes, or even disputes among heirs.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...
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...
The difference between guardianship and conservatorship
Conservatorship and guardianship are two different things. The state defines these terms. Here is some information about the differences between these two legal terms. Conservatorships and divorces Conservatorship is similar to custody in other states. Conservators...
3 reasons to set up a trust
Planning for the future also means planning for the unexpected and the end of life. While a will directs who receives your assets, a trust lets you name a legal trustee to ensure that how you want your property and assets distributed happens as it should. Among the...
When should I update an estate plan?
Though you have already taken the time to plan your estate, periodic follow-ups can ensure that your plans continue to address your needs effectively. Here are a few examples of when an update could be necessary. Changes to your assets Increasing your wealth could...
What do I need in an estate plan?
An estate plan can be as complex or as simple as you prefer. However, the more detailed you are in your estate plan, the easier the process is for your family after you pass. Plans you should include There are at least five things you should consider including in your...
