Recently in Estate Planning Category

October 15, 2013 | Comments: 0

Estate Attorney

People often feel they don't need to hire an estate attorney and try to handle matters on their own. While it can be tempting to go it alone, it's advisable to consider the ramifications if estate planning documents aren't properly executed.

The cost to hire an estate attorney is far less than the cost to settle probated estates. Furthermore, lawyers can advise of strategies to protect assets during your lifetime. For instance, people can prepare power of attorney forms to authorize another person to handle personal, financial, business, or medical affairs if they are unable to do so.

Numerous life events impact estate planning. Things such as having children, owning a family business, or owning real estate in another state require different types of strategies.

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September 11, 2013 | Comments: 0

Wills

When it comes time to prepare Wills, people often make an array of excuses to put it off. They think it takes too long or is too costly or that they don't own anything of value so there's no point.

The truth of the matter is executing legal Wills ensures your estate is settled according to your wishes. The document also aids in expediting the probate process and is necessary for establishing legal guardianship for minor children.

Probate is required to reconcile estates regardless of how much or little a person owns. The process is needed to officially record the decedent's death and legally transfer property to heirs.

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August 15, 2013 | Comments: 0

Attorney California

Trying to find a good attorney in California can feel like locating a needle in a haystack. With more than 160,000 practicing lawyers it's helpful to know where to find one that's suitable for your needs.

Five common ways to locate an attorney in California are personal referrals, lawyer referral services, legal aid agencies, prepaid legal services, and attorney-client matching services.

Personal referrals can be very beneficial and reduce time spent finding a lawyer. Almost everyone has needed legal help at some point. Also, a lot of people know lawyers who can refer colleagues that specialize in the type of legal work needed. Ask family members, friends, co-workers, and colleagues for a recommendation.

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February 11, 2013

Estate Tax

This year brings big changes to estate tax, making it more important than ever to engage in estate planning strategies. One of the primary changes is the exclusion amount which declines from $5.12 million to $1 million. Another is the tax rate which increases from 25 percent to 40 percent.

Not only do estate tax changes result in higher taxation, but also effect portability of the federal estate tax exemption for spouses. As of January 1, 2013 spouses will no longer be able to transfer the unused portion of their exemption.

Married couples ought to seek guidance from an estate lawyer to determine the impact of the portability provision. Any unused federal estate tax exemptions available to surviving spouses could be lost, so it is vital to determine if tax changes affect your current estate plan.

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March 15, 2012

Estate Planning

Estate planning involves taking steps to protect assets so they can be passed along to heirs upon death. The kind of planning required depends on the type of assets that are owned. Some possessions can be transferred by filling out a simple form while others involve more complex steps.

One of the most important estate planning strategies is writing a will and testament. This document is used with probate estates and trusts. Wills provide information about who should receive inheritance property.

The most important reason to engage in estate planning is to avoid probate. Probate is required to record a person's death and settle their estate. Having a Will is essential for expediting the probate process. Anytime a person dies without leaving a Will, their possessions are given to heirs in accordance with state probate rules.

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