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Sacramento Estate Planning Attorney

Posts tagged "Estate Planning"

Estate planning crucial when facing higher taxes

California sports hero and worldwide golf superstar Phil Mickelson had some choice words about the new state and federal income tax rates he, as one of the highest-paid athletes in the world, will be forced to pay as a California resident. That is, if he remains in California at all. Mickelson has expressed his frustration with the increase in the state income tax, as he recently saw his tax rate increase from 10 percent to 13 percent.

Power of attorney can help with late-life decisions

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.

Domestic partnership laws might gain clarity in 2013

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.

Thomas Kinkade estate battle ends in silence

Our California readers may have read about what initially appeared to be an imminent and vicious court battle between the wife of deceased painter Thomas Kinkade and the woman who was his live-in girlfriend at the time of his death. Kinkade, whose paintings and licensing netted him millions of dollars, had not divorced his estranged wife, but also allegedly left most of his estate to his girlfriend in the form of two hand-scrawled wills of controversial origin.

2013 tax considerations for California estate planning

Californians may have seen a recent financial news article about the new taxes from the Affordable Care Act, known colloquially as Obamacare, that are scheduled to go into effect at the beginning of 2013. In particular, people need to pay attention to a new 3.8% investment income tax increase, which may change the estate planning needs of people looking to avoid unnecessary taxation.

Estate planning in the face of a divorce

Californians may have seen a recent article that discussed the financial implications of divorce, especially for women. Whether male or female, divorce usually constitutes a major life shift, and though there are plenty of considerations one has to take into account during this time, there may be no more important objective than maintaining financial well being.

Supreme Court rulings could impact California same-sex couples

California has been no stranger to the controversy surrounding same-sex marriage and the courts continue to struggle to make sense of the situation. Some much-needed guidance on legal issues related to same-sex marriage may be on the horizon, as the United States Supreme Court convenes this month to decide which of five cases challenging the Defense of Marriage Act it will hear in the coming year.

Sherman Hemsley's body laid to rest after will contest

Blog readers may recall the story of deceased Hollywood sitcom star Sherman Hemsley's estate and the legal challenge from his brother that kept his body above ground for more than three months after his death. Finally, an El Paso, Texas, judge has ruled that Hemsley's will was valid, meaning that Hemsley can finally be buried in accordance with his written wishes.

Voters in California pass Proposition 30 to raise taxes on rich

One of the major differences between President Obama and Mitt Romney was their opinions on how to handle taxation of the middle and upper class. Obama favors an increased tax rate for the wealthiest Americans, and not surprisingly, Democrat-dominated California voted to increase the state tax rate on earners in the higher tax brackets. People earning between $250,000 and $300,000 will now pay 10.3 percent in state income tax. Those earning $1 million and more will now pay 13.3 percent, which is a 3 percent increase.

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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