Law Office of Barbara J. Dibble

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December 2016 Archives

New law reduces Medi-Cal collections

Creating an estate plan is about so much more than simply putting your assets in one place or another and deciding who will get the house and the car when you have passed on. Those with few assets may believe that they are not in need of an estate plan, but this could not be further from the truth. Without proper planning and an understanding of both state and federal laws, your loved ones may be in for a rude awakening. One of the most commonly frustrating issues for those who pass away in California is dealing with Medi-Cal recoupment procedures.

Irrevocable life insurance trusts

For many who are venturing into the complex but worthwhile field of employing trusts in their estate plan, life insurance is an asset that presents some unique challenges. Without taking proper precautions, a life insurance policy can present just as many problems as intends to solve for the survivors of a policy holder.

Even those without heirs need an estate plan

If you've been assuming that you don't really need an estate plan because you don't have any children to leave an estate to, it's time to reconsider that stance. Creating an estate plan is two-fold — it not only allows you to determine who will get your possessions after you pass on, and it allows you to make your end-of-life wishes known.

Challenging a will through testamentary incapacity

There are a number of legitimate reasons that one or several people may want to challenge a will, and each comes with its own set of hurdles to clear. In general, challenging a will is not a simple matter and is not to be undertaken casually. Almost all wills end up passing through probate just fine, with only about 1 percent being challenged. However, if you believe that a certain person's will is invalid, there are grounds on which it can be challenged. One of the most common grounds for challenging a will is bringing into question the testator's ability to have written the will.

IRS releases 2016 estate and gift tax figures

While taxes may famously be the most dependable thing we have to look forward to the than the eventual heat death of the universe, those who know how to use the tax system also look forward to the IRS's yeary announcement of it's adjusted estate and gift tax exemptions. And so, just as the sun rises in the East and sets in the West, the IRS was released it's annual figures for what can be exempted by giving to the ones you love.