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Sacramento Estate Planning Attorney

Posts tagged "unnecessary taxation"

Californians shouldn't blow inheritance, but save for retirement


People in California may have seen a recent financial news article about inheritance, and how people who are lucky enough to receive an inheritance plan on using it. In a recent survey of people under the age of 60 who expected to inherit money or assets, most people said they would use the money to save for their own retirement.

California workers' pensions could be at risk


People in California may have seen a recent news story about the fight over public employee pensions. The article discussed a pension reform gathering that took place earlier this year in Sacramento, and the possible implications that bringing pension reform to California could have on the state's bottom line as well as the government workers who are entitled to benefits under the program.

Same-sex couples get much needed federal tax guidance


People in California may have heard about a recent tax policy change that could provide some peace of mind for same-sex couples across the state. Same-sex marriage has been a hot-button topic here in California and in many other states, and shifting laws and regulations have made tax and estate planning a veritable nightmare for same-sex couples who have faced tremendous uncertainty in their own financial futures.

Making the most of the estate tax exemption


Residents in California know that estate planning can be very complicated. This is especially true due to increasing taxes and a number of changes to state and federal law that make shielding your hard-earned money from unnecessary taxation extremely difficult. Estate planning isn't a one-time deal. It's something that people with substantial estates need to take seriously and revisit frequently, especially as their personal and family situation evolves. The changes in California and federal law leave the unaware vulnerable to massive tax increases.

James Gandolfini's will comes under the microscope


People in California probably know about James Gandolfini, the actor most-well-known for his turn as Tony Soprano on the hit television show. When he unexpectedly died at the relatively young age of 51, people mourned the loss of this talented man, but soon afterwards the attention turned to the controversies surrounding his estate plan.

Same-sex marriage to continue in California


People in California know that the Supreme Court handed down a tremendously important decision last month overturning Proposition 8. Proposition 8, the voter initiative that outlawed same-sex marriages within the state, was effectively nullified by the Supreme Court's decision, which has now cleared the way for same-sex marriages to legally resume all over California.

Saving for retirement and future generations

People in California are forced with a lot of tough choices as they decide how to save their money. Obviously, people want to protect as much of their money from unnecessary taxation as possible, but because every person's situation is different, there is no such thing as a one-size-fits-all estate plan. When it comes to retirement, the next generation of retirees has some scary realities to face, but with the right estate planning strategies, they may just be able to create a healthier financial situation than they thought possible.

Estate planning helps Californians deal with state taxes increase

High-income Californians may have expected a modest tax increase this year but that does not mean anyone is excited about having to pay up to 3 percent more in income taxes this year. While dependent exemptions went up a paltry $6 per child, people making over $250,000 this year will likely pay thousands more in taxes than in past years. Fortunately, prudent wealth managers know that savvy estate planning can save a person untold amounts in unnecessary taxation over their lives and the lives of their heirs.

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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