The 2020 Democratic National Convention just wrapped up and Vice-president Joe Biden was officially nominated as the Democratic candidate for president. The Republican National Convention will kick off next week with President Donald Trump slated to be nominated for a second term. With the major candidates set, It’s sure to be an exciting (if you’re […]
Anyone who has seen the hit Netflix documentary Tiger King: Murder, Mayhem, and Madness can attest that it’s one of the most outlandish stories to come out in a year full of outlandish stories. And while Tiger King’s sordid tale of big cats, murder-for-hire, polygamy, and a missing millionaire may seem too outrageous […]
Last week, I discussed some of the pros and cons of using prenuptial agreementshttps://www.calilaw.com/prenuptial-agreement-pros-and-cons/ . Here, we’ll look at different estate planning vehicles that could provide similar—or even better—protection than prenups. Revocable living trust created by you: By setting up a revocable living trust and funding it with your separate assets […]
If you’re counting down the days to your wedding, divorce is probably the last thing you and your fiancé want to be thinking about, and yet you might be rightfully concerned about what would happen to your assets in the event of a divorce—or your death. You may also be worried that suggesting a prenuptial […]
Last week I discussed the vital importance of having updated advance directives in place considering COVID-19. Here, we’ll look at several provisions you might want to consider adding to your directives to address potential contingencies related to the pandemic. Permission to undergo experimental medical treatments: Since there is currently no proven vaccine or other effective […]
As the COVID-19 pandemic continues to ravage the country, doctors across the nation are joining lawyers in urging Americans to create the proper estate planning documents, so medical providers can better coordinate their care should they become hospitalized with the virus. The most critical planning tools for this purpose are medical power of […]
In January, I wrote about how the deaths of NBA legend Kobe Bryant and his 13-year-old daughter, Brianna, demonstrated the vital need for estate planning for people of all ages. At the time, little was known about the planning strategies Kobe had in place to protect and preserve his estimated $600 million estate for […]
If you have a blended family and do not plan for what happens to your assets in the event of your incapacity or death, you are almost certainly guaranteeing hurt feelings, conflict, and maybe even a long, drawn out court battle. So let’s start with clarity around what a blended family […]
Many people come to us curious (or confused) about trusts and taxes. So, today’s article is going to sort it out and clarify things for you. There are two types of trusts, and each have different tax consequences. Revocable trusts, which are the far more commonly used trusts, have no tax consequences whatsoever. […]
There’s nothing like a major change in the economic climate to make you rethink your day job. “Business as usual” currently means a large element of uncertainty about what the future holds for your working life. Whether you’ve lost your job, had your hours cut, or have seen these things happen to […]
