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Sacramento Estate Planning Attorney

Posts tagged "estate plan"

Where will your money go after you die?


People know that California is home to the largest and most progressive technology corporations in the world, so it's no surprise that what happens in California today could set the standard for the rest of the United States for years to come. The rapid growth and success of these technology giants has made many millionaires and billionaires, who, just like the rest of us, are faced with the important decision of what to do with their money during their life and after their death.

Philip Seymour Hoffman made estate planning errors


People in Hollywood and across the country were shocked and saddened by the sudden passing of one of the world's most talented and prolific actors. Philip Seymour Hoffman's untimely death brought national attention to the spreading epidemic of heroin addiction, but there are many other lessons to be learned from his death.

California couple finds golden fortune while walking their dog


Most people in California have probably daydreamed about one day stumbling upon a treasure chest or finding a lottery ticket, but for one couple in Northern California, this dream-like scenario actually came true. The couple was out walking their dog one afternoon when they noticed something partially buried at the base of a tree. Upon further inspection they unearthed an astounding bounty of gold coins dating from the 1800s.

Spending and saving for the future requires balance


People in California may have seen an interesting article in the Wall Street Journal several weeks ago about a family, their differing personalities and their differences in their approach to financial planning. It's a story that plays itself out in millions of households across the U.S., but still rarely gets the attention it deserves.

Thinking big picture to keep family wealth pays off


People in California know that making wise financial decisions and planning for the future are two of the cornerstones of continued prosperity, but sometimes actually doing these things can be a challenge people are reluctant to take on. Not everyone is a financial whiz or an attorney well-versed in the law of asset transfers but, for a reasonable fee, the odds are that they can find just such an expert in their neighborhood. The truth is that everyone, not just those with a substantial estate, can benefit greatly from talking about their own unique financial situation with an estate planning attorney.

California fails the test for retirement-friendly states


People in California know that steadily increasing taxes at the federal and state level can be a huge burden for older Americans, but Californians may not even realize that their burden is actually worse than those imposed in many other states across the country. According to a recent study, California is one of the nation's 10 least-friendly states when it comes to taxing retirees.

Generational wealth transfer slowly getting underway


People in California may have seen a recent financial news article about the tremendous multi-trillion-dollar inheritance boom that is just getting underway here in the United States. According to a recently published paper, the Baby Boomer generation is set up to receive a whopping $8.4 trillion in collective inheritance over the next several decades. This isn't an isolated phenomenon; it could impact about 2/3 of all baby boomer households, with the average inheritance amounting to a sizeable $300,000 per household.

Developing good financial habits for wise inheritance spending


People in California know how important it is to develop and adhere to smart financial habits, especially in a time of economic turmoil. But spending habits, and even the way people think about money in general, is also influenced by a number of societal factors that make life unique for people raised in a particular time period. As a result, people who want to pass down money to heirs and loved ones in a later generation need to think about their differences and how to fully maximize their money for the generations to come.

Retiring in style may no longer be an option for some


Older people in California are in an undeniably awkward predicament when it comes to their retirement. People who have worked their entire lives in order to settle down and enjoy their retirement on their own terms may have seen a lot of their accumulated wealth simply vanish as rising taxes, higher costs of living and devastating declines in many popular investments have forced seniors to think about their twilight years and come to some tough conclusions.

Inheritance can take some getting used to


People in California who are thinking about retirement and beyond, as well as people who expect a sizeable inheritance, should see a recent article in Forbes, which talks about the issues that can unfold when a person receives a life-changing amount of money as inheritance from a loved one. The psychological 'shock' of receiving a large amount of money can be a serious problem for some people, who may have trouble wrapping their heads around life with more money than they had envisioned.

My Sacramento law practice, Michael A. Sawamura, Attorney at Law, focuses on wills, trusts and estate planning law in addition to business law and corporate defense services. My clients include professionals, government employees, small businesses, blue-collar workers and national corporations.

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