If you plan to transfer a business, home or other major assets to your children in California, you must complete certain legal and tax steps. These steps differ by asset type and help you avoid penalties, delays or misunderstandings during the process. Transferring...
Medicare benefits are available to most older adults. However, they may not cover all of the needs of people in their golden years. Medicare only provides baseline coverage for routine and emergency medical support. The program does not cover long-term care expenses....
Caring for both your children and your aging parents can feel overwhelming. You may be helping with doctor visits, saving up for college or maintaining your home—sometimes all at once. Estate planning can help you manage these responsibilities by providing tools that...
If your home is one of your most valuable assets, passing it on efficiently can be a key part of your estate plan. But a straightforward transfer can sometimes trigger costly tax consequences, both for you and the people you want to provide for. That’s where a...
Many people make charitable gifts throughout their lifetimes. Those who belong to religious communities might make regular contributions to their congregation. People also frequently choose to support charitable organizations and nonprofits that operate in areas they...
Suppose you’ve noticed some hesitation from your aging parents about organizing their affairs; you may contemplate handling estate planning on their behalf. As your parents age, helping ensure their financial and legal affairs are in order becomes increasingly...
Disinheriting an adult child or other person who expects to inherit something from you is a decision to make with care. It’s also something that you may want to discuss directly with the person you are disinheriting. Unless the reason for the disinheritance is...
Every person's estate is different. The assets that belong to an individual become their estate when they die. Those resources may need to pass through probate court. The courts can assist with the application of intestate succession laws if the testator dies without...
You’ve decided this is the year you finally put an estate plan in place. It’s important to avoid a mistake that too many people make: assuming that your kids want everything of value you have and maybe even will fight over it if you’re not clear about who’s getting...
Serving as a personal representative of an estate often means making certain sacrifices. For example, personal representatives may need to take time off of work to attend court hearings. They may notice strain in their close relationships because people are upset...