This week is referred to by some as the National Estate Planning Awareness Week. It is an opportune time to examine your life and take steps to protect your assets now and in the future. Each stage of life requires a different type of planning, but through it all it…
The present federal estate tax rates and levels are set to expire at the end of this year. Under current rules, only estates that have a total value of $5.2 million have any obligation, paying a top 35% tax rate on any assets over that amount. If Congress allows the…
Caring for a child with special needs and/or raising a child with disabilities is fraught with financial responsibilities that may be difficult to manage. These life situations require careful estate planning when the parent or caregiver is no longer around to make the necessary financial and other decisions for that…
With the number of seniors growing, and life expectancy on the rise, many families are weighing the difference between home care and some kind of assisted living for the elderly. Financial concerns always play a role in the debate. Other factors include the stress associated with caring for the elderly…
You can donate your old car to raise money for your favorite charity and also qualify for an income tax deduction. Throughout California, local and national charities accept car donations. In some instances, even if your car does not run, you can still claim the fair market value, which might…
A “will contest” involves a formal objection raised against the validity of a will–part or all of the document can be contested. Law firms that practice estate planning are often asked about the validity of wills or the feasibility of overturning a will. In many cases the reality is that…
Leaving money to pets in your Will is not as uncommon as you might think. In fact lots of people, especially the elderly, want to make sure that watch dog Fido, or lap cat Fluffy, are well taken care after they are gone. Leona Helmsley, the late 87-year-old real estate…
Financial involving money, property, goods or identity theft; or it might involve a senior being urged by friends or family to sign a financial document that is not be in their best interest. Sometimes it’s hard to determine where the scam begins and poor financial decision making ends, especially when…
The person who will make choices for your end-of-life healthcare and the person who will handle your finances may not always be the same person. In fact, you might want to consider having different people handle each one. A power of attorney is a legal document that gives another person…
Armed with good intentions many parents leave everything they own to their children after they die. However, problems may arise if the language they used in their will says that “everything is to be split equally among the beneficiaries.” Using such language is often found in a simple will. It…