If you’re an author, musician, painter or anyone who engages in creative activity for profit, then your California estate planning should include disposition of any intellectual property rights attached to your works. While most copyrights, patents and trademarks are governed by federal law, they remain intangible personal property subject to…
A revocable living trust is a common estate planning device where a person, called a settlor, transfers his or her assets to a trustee, usually themselves. The settlor can amend or revoke the trust at any point during his or her lifetime. At the settlor’s death, a designated successor trustee…
Traditionally, California estate planning addresses distribution of real and tangible personal property. But in the Internet age, intangible personal assets such as social media accounts are an essential part of many estates. Google, Facebook and Twitter may all contain personal data that you might want to dispose of in a…
Divorce entails not only dividing a couple’s assets but undoing potentially complex estate planning entered into during the marriage. In the case of trusts, where asset titles are legally transferred to trustees, things can get even more complicated. That’s why it’s important to work with an experienced San Diego estate…
The political and legal debate over California’s policy towards same-sex marriage reached the Supreme Court on March 26 when the justices heard arguments in Hollingsworth v. Perry. This is the first of two cases where the Court may address the federal constitutional rules governing same-sex marriage. The Hollingsworth decision in…
Charitable giving is a common part of estate planning. In addition to supporting organizations you deem worthwhile, charitable gifts can reduce the taxable value of your estate. Just as charitable gifts are deductible from personal income taxes while you’re alive, similar gifts made after death are deductible from the gross…
The estate tax-also known as the “death tax”-is often misunderstood. Despite its prominent place in the political debate over tax policies, the estate tax only affects a small number of estates each year. According to Internal Revenue Service records, there were 4,588 estate tax returns filed nationwide in 2011, including…
Spouses receive a special exemption under federal estate tax law known as the marital deduction. When the first spouse dies, any portion of his or her estate that passes to the surviving spouse is not subject to estate tax. No tax is assessed until the second spouse dies. The marital…
In addition to a Last Will and Testament or Living Trust, an often overlooked estate planning tool is the life estate. A life estate is like a trust except that it’s created by executing a deed giving a person the right to use a particular piece of land for life.…
A last will and testament is not carved into stone. As you experience major life events, you will likely need to revise or update your will many times. If you get married, you’ll want to name your spouse as an executor or beneficiary. Conversely, if you get divorced (or you…