Many readers here in California may be fans of recording artist Amy Grant. Of course, like any famous singer, Grant carries on much of her life outside of the public eye. In a recent article, the singer opened up about her parents' life as they reached old age and its effect on her. Within the story is a fantastic representation of how proper estate planning -- including power of attorney -- can help families come together despite what can be a challenging end.
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.
Last month the U.S. Supreme Court decided that it will hear two cases dealing with same-sex couples and the discrimination they have encountered under federal and California laws. The Supreme Court will hear the cases in March and may have a decision sometime around the middle of summer.
A couple from Redlands, California, recently made an interesting discovery about the marriage that they thought they had shared for nearly half a century. As the two were preparing their wills and collecting estate planning documents, they could not find their marriage license from their nuptials in 1964. After contacting the county for a copy, they realized that the pastor who conducted the wedding had never filed the license with the county office, meaning that the two had never actually been legally married.