WHY SMALL BUSINESS OWNERS NEED AN ESTATE PLAN
Running a small business can keep you busy, but it should not keep you from creating an estate plan. Not having a plan in place can cause problems for your business and your family after you are gone. Our Modesto estate planning lawyers explain why small business owners need an estate plan below: Estate Planning for Small […]
ESTATE PLANNING CONSIDERATIONS FOR COUPLES WITH AN AGE GAP
With couples of similar ages, planning for the future is naturally a joint effort. However, if you are married to someone who is significantly older or younger than you, the future can look different and mean different things to each of you. To protect yourself, your spouse, and other loved ones, you need to have […]
WILLS, TRUSTS AND DYING INTESTATE: HOW THEY DIFFER
Most people understand that having some sort of an estate plan is a good thing. However, many of us do not take the first steps to get that estate plan in place because we do not understand the differences between a will and trust – and dying without either. Below, our Modesto estate planning attorneys explain what […]
WHEN A GIFT MAY NOT BE A GIFT
It is better to give than to receive. But if you give a gift above a certain amount, you might end up owing money to the Internal Revenue Service (IRS). Our Modesto estate planning attorneys explain gifts under the gift tax law below. The federal tax code has very specific rules about how much you are allowed […]
HOW TO PROTECT YOURSELF FROM CLAIMS OF SELF-DEALING WHEN SERVING AS A TRUSTEE
Below, our Modesto estate planning lawyers explain how to protect yourself from claims of self-dealing when serving as a trustee. What Is Self-Dealing in Trust Administration? A trustee usually has quite a bit of discretion in their management of a trust’s accounts, money, and property (known as assets). At the same time, as a fiduciary, a trustee […]
MYTHS AND FREQUENTLY ASKED QUESTIONS: PLANNING FOR FAMILIES WITH A STAY-AT-HOME PARENT
Below, our Modesto estate planning attorneys debunk myths and answer common questions for families with a stay-at-home parent. Myth #1: Because I stay at home with the kids, I do not need an estate plan. Estate planning is about more than just passing along your money and property. An estate plan allows you the opportunity to designate […]
THE CRUCIAL LEGAL DOCUMENTS YOU WILL NEED FOR YOUR CHILD WHO IS NOW A YOUNG ADULT
As parents, we know that even when your children turn 18, they still need our guidance as they continue to learn and grow in the new chapter of their lives. As such, having access to certain information is critical. Whether your adult child plans to continue their education away at college, pursue technical school, or […]
10 DIFFERENT TYPES OF TRUSTS: A QUICK LOOK
Considering the myriad of trusts available, creating the right estate plan can seem daunting. However, that is what we, as estate planning attorneys, do every day. We know the laws and will design a plan which addresses your specific situation. Here is a look at the basics of ten different types of trusts to provide you […]
REVOCABLE TRUST VS. IRREVOCABLE TRUST: WHICH IS BEST FOR YOU?
There are many benefits to a properly funded trust. It allows you to avoid probate and minimize taxes. It provides organization, maintains control and provides for yourself and your heirs. In its most simple terms, a trust is a book of instructions wherein you tell your trusted people what to do and when. While there […]
TRUSTS VS. WILLS: A QUICK & SIMPLE REFERENCE GUIDE
Are you confused about the differences between a trust and a will? If so, you are not alone. While it is always wise to contact estate planning experts like us, it is also important to understand the basics. Here is a quick and simple reference guide that explains trusts vs. wills: What a Revocable Living Trust Can Do – […]