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November 2017 Archives

When someone gets left out of the will in California

Estate planning is an important part of protecting the ones you love and preparing for the future. However, estate planning can grow very complicated when a couple divorces and when one of the spouses remarries, especially if the new spouse has children. Depending on the nature of your relationship with a potential heir, there is a chance that your wishes may face a challenge after you pass away.

Estate planning to protect your children after a tragedy

Estate planning is, among other things, about creating protections for the ones you love before you need them. This way, when the unexpected happens, you can focus your time and energy on addressing difficult situations with your full attention and not losing valuable time and resources wondering what you will do now that disaster or heartbreak is at the door.

Estate planning can prevent family conflicts

You've done the important work of protecting your estate and resources in order to be able to leave something for your family and loved ones. You realize — unlike many California residents — that it's wise to consider how the estate planning decisions you make now may affect your family later on.

Should you consider an asset protection trust?

As you look around and consider various estate planning options, you soon realize that there are indeed many, many different trusts and other estate planning tools available. One particular product that often gets overlooked or lumped in with other similar options is an asset protection trust. In most cases, choosing a wise estate planning strategy is most effective with the assistance of an experienced estate planning attorney, but it is always wise to do your own homework before meeting with a legal professional.

Understanding individual gift tax exemptions

Most individuals do not worry about the value of gifts that they give to others, and in most cases it is never anything worth great worry in the first place. However, the federal government does place limits on the amount of money one individual can gift to another individual inside of a single calendar. If you do give another person gifts that exceed the yearly cap, you may incur taxation.

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