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Estate Planning Archives

Your health matters along with your lifespan

When writing a will and doing estate planning, people often carefully consider how long they think they will live. After all, you need to do long-term care planning and you need to consider how many assets will really remain when you pass away. There's a careful balance here. Your estate has to support you at the end of your life, and you also want to give whatever remains to your heirs.

Is there an estate tax in California?

Do you have friends who have told you that the main focus of their estate planning is simply to reduce the estate taxes that their heirs will need to pay? It's a serious concern for some people, and they go to great lengths to cut back on the tax burden. They just want to give their heirs an inheritance that they'll enjoy.

Step One in passing down your home: Talk to the kids

When people are asked what the first step is to pass their home on to their children, they often think about the financial side. They assume that they need to find out what the home is worth in the current market or what the taxes will look like if they give the house to the kids.

Divorce means it's time to update your estate plan

When you decide to get divorced, it means that much of the estate plan you created with your former spouse no longer applies. Some things may still work -- leaving assets to your children, for instance -- but it is time to take a look at all of the documents and make sure they have been properly updated to reflect the fact that you are now single.

Tips for adding an art collection into your estate plan

If you are an art collector, odds are that your collection is one of the most valuable things that you own. Not only does it have a lot of sentimental value, but you have invested time and money into it. It could be worth more than your home. You absolutely need to make sure that you work it into your estate plan, along with your other assets.

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