The fact is that many people who are single without children will eventually marry or form other relationships. In addition, many parents are single yet have children. Yet, for other young adults, staying single and childless is a matter of choice. And if trends hold, the number of single, childless households is likely to increase […]
Proposition 19 changes the way real estate may be passed down from parents to children in California. Here are 6 key things you should know about this new law: Prop 19 eliminates the ability for children to receive property from their parents without a property tax reassessment unless (adult) children use the property as their own primary […]
If your child requires or is likely to require governmental assistance to meet their basic needs, do not leave money directly to your child. Instead, establish a Special Needs Trust. A trust that is not designed with your child’s special needs in mind will probably render your child ineligible for essential benefits. A Special Needs […]
On January 1, 2020, the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) went into effect, and it could have big implications for both your retirement and estate planning strategies—and not all of them are positive. Last week, I gave you a general overview of the SECURE Act’s most impactful provisions. Under the […]
Although digital technology has made many aspects of our lives much easier and more convenient, it has also created some unique challenges when it comes to estate planning. If you haven’t planned properly, for example, just locating and accessing all of your digital assets can be a major headache—or even impossible—for your loved ones following […]
As we head into the thick of the holiday season, you’re likely spending more time than usual surrounded by family and friends. The holidays offer an opportunity to visit with loved ones you rarely see and get caught up on what’s been happening in everyone’s life. And though it might not seem like it, the […]
Although I haven’t experienced it yet, I’ve seen clients, friends, and family watch their kids leave home to attend college or start their career. It can be an emotional time as a parent. On one hand, moving out on their own is a major accomplishment that makes parents proud. On the other hand, having your […]
Do a Google search for “online estate planning documents,” and you’ll find dozens of different websites. These sites let you complete and print out just about any kind of planning document you can think of—wills, trusts, healthcare directives, and/or power of attorneys—in just a matter of minutes. And the documents are typically quite inexpensive. At […]
As we head towards the end of the year, we’re fast approaching the deadline to implement your family’s tax strategies for 2019. The Tax Cut and Jobs Act (TCJA) completely overhauled the tax code, and if you’ve yet to take full advantage of the benefits offered by the new tax law, now is the time […]
In the first part of this series, we discussed a unique planning tool known as a Lifetime Asset Protection Trust. Here we explain the benefits of these trusts in further detail. If you’re planning to leave your children an inheritance of any amount, you likely want to do everything you can to protect what you […]
