Throughout their lives, many Americans may acquire assets and wealth such as a house, recreational toys, and investments. Unfortunately, no one can live forever, and tomorrows are never guaranteed. With that in mind, it is important to draft a will to insure that all...
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Estate Planning
A basic estate plan does not have to be complicated
Many people have put estate planning into the category of things they will get around to someday in the future. They may be under the impression that estate planning is a complicated process that takes a lot of work. However, for most California residents, preparing...
Rock star who died without estate plan leaves family destitute
Most people in California probably assume that rock stars' financial lives are handled by legions of lawyers and accountants who make sure their clients' wealth is safely invested and their posterity provided for. This is not always the case, however. As a recent news...
Same-sex couples may want to update their estate planning
Now that same-sex marriage is here to stay in California, LGBT couples who have tied the knot can enjoy the same legal advantages available to all married couples when it comes to estate planning. Many same-sex married couples have no estate plan in place at all;...
Does California have an estate or inheritance tax?
People who are starting the estate planning process often wonder about the potential estate or inheritance tax implications. For most individuals in California, this is no longer a major concern. California has no estate tax for individuals who died on or after...
Avoiding probate is a major goal of California estate planning
Probate is the court-supervised process of estate administration and property distribution after an individual dies. In California, probate can be a lengthy and expensive process. Legal fees - which are based on the size of the estate - and court costs can eat up a...
A power of appointment can be a useful estate planning tool
Estate planning inevitably requires making some assumptions about the future. But none of us can clearly predict the circumstances and needs of our heirs long after we are gone. Fortunately, California law allows a testator to leave some asset distribution decisions...
Estate planning as a vital community function
People who call the Sacramento area home know that a community is built one family at a time, and when people work together for mutual financial prosperity the community is strengthened. That is the philosophy of Michael Sawamura, who has made Sacramento his home and...
What is a pension “clawback” and can it affect you?
People in California who have worked for decades in order to ensure a healthy and prosperous retirement might be shocked to know that their pensions and retirement accounts might not be as safe as they had banked on. According to a recent AARP bulletin, pension...
An easy way to prepare for future medical issues
There are several important documents to consider when developing an estate plan. Arguably, one of the most important documents to consider might be the advanced health care directive. This document is essentially a document that spells out what a person's wishes...