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Sacramento Estate Planning Attorney

Estate Planning Archives

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.

Estate planning choices should be explained to heirs


Readers here in Sacramento may have seen a recent financial editorial about inheritance, and the people who are faced with tough decisions about where their money should go after their death. This isn't a dilemma for the super-wealthy or those with a substantial estate, this is an issue that affects nearly everyone who has assets and wishes for their distribution when they pass on.

Inheritance surprises may be in store for many heirs


People in California may be surprised to hear that, even in this economy, a recent survey has shown that well over half of all retirees do in fact have enough money saved up to provide an inheritance to heirs and loved ones. In fact, nearly two-thirds of this generation of retirees plan to leave money or other assets in their wills. The amount of all of this inheritance is pretty staggering as well. According to the study, future inheritance from retirees could tally up to over $6 trillion collectively.

Talking to kids about inheritance is crucial to success


People in California perhaps read a recent editorial about the importance of preparing the next generation of heirs for their inheritance. The article makes some excellent points about why it's extremely important for people with a substantial estate to educate their heirs, and perhaps even involve them in the estate planning process where appropriate.

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.

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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