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Orange County CA Estate Planning
Santa Ana, CA
Estate Planning - Probate - Trust Administration - Business Law - Employment Law - Business Litigation
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“2016 was a typical year in that, unsurprisingly, families continued to fight over estates.” A wealthmanagement.com article, “Top Four Estate Disputes of 2016,” gives us a sampling of some of the major estate planning issues among the recently passed celebrities. Prince. The rock star died in April of 2016 without... Continue reading
Posted 7 hours ago at Orange County Estate Planning
“Through a charitable bequest, the Montgomery’s will creates an accounting scholarship to benefit the next generation of financial managers, especially those who might return to school while working.” Valarie Montgomery may have retired from overseeing Michigan State’s financial operations, but she used her estate plan with her husband Mark to... Continue reading
Posted yesterday at Orange County Estate Planning
“As the New Year turns, and with it, thoughts of income tax report preparation and filing, it might be a wise idea to do what many producers also do: spend time developing and honing transition and estate plans for their farm and ranch operations.” The (Dodge City, KS) High Plains... Continue reading
Posted 2 days ago at Orange County Estate Planning
“If your estate is less than $150,000 total, including your home, you are among the rare few who do not need to read this article.” If you have an estate with any real assets, you should carefully weigh the risks of failing to make proper estate plans. This is the... Continue reading
Posted 3 days ago at Orange County Estate Planning
“Those who wait until after full retirement age to claim Social Security, but do so before age 70 may be disappointed in the size of their initial benefit checks.” Delayed-retirement credits increase Social Security benefits each month after you reach full retirement age (66 for those born between 1943 and... Continue reading
Posted 4 days ago at Orange County Estate Planning
“Whether they're working or not, people with disabilities and their caregivers often have higher costs associated with medical care or daily living, so the current tax code makes some of these costs deductible.” The Centers for Disease Control and Prevention found in 2015 that 53 million adults in the U.S.... Continue reading
Posted 5 days ago at Orange County Estate Planning
“Marriage after age 50 is a wonderful thing, but it also has some financial challenges.” There are numerous money myths that you’ll hear when you consider getting married at midlife, particularly if your spouse-to-be has children from a first marriage. Here are six common myths from Forbes’ recent article entitled... Continue reading
Posted 6 days ago at Orange County Estate Planning
“When leaving a home to your children, you can avoid probate by using either joint ownership or a revocable trust, but which is the better method?” In the event you decide to add your child as a joint tenant on your home, you’ll each have an equal ownership interest in... Continue reading
Posted 7 days ago at Orange County Estate Planning
“Yes, you heard us right. Millennials do need to start thinking about their estate plans now. It has nothing to do with the fact that they have several decades to go before they actually get to the retirement stage.” According to a caring.com study, the percentage of 18 to 36-year-old... Continue reading
Posted Dec 7, 2017 at Orange County Estate Planning
“Although these are just two of the misconceptions regarding wills, they take on special significance because they relate to some of the most important assets owned by a person.” There are several misconceptions floating around in estate planning, and the Pauls Valley Daily Democrat reviews some misunderstandings about wills in... Continue reading
Posted Dec 6, 2017 at Orange County Estate Planning
“Many parents who have children struggling with addiction or mental illness are often too consumed with caring for those children in the present, to give any thought about how those children will be cared for when they are gone.” A question to consider in estate planning, if you have children... Continue reading
Posted Dec 6, 2017 at Orange County Estate Planning
“This case arose out of a will contest between the wife and son of deceased musician Ray Price.” Price's widow filed an interlocutory appeal alleging that the trial court erred in appointing a receiver to take possession of property subject to the will contests, according to a recent write-up in... Continue reading
Posted Dec 5, 2017 at Orange County Estate Planning
“Even though determining how to pass on assets is not always clear cut, many people decide to simply divide assets equally among their heirs. Yet in a number of different situations, ‘equal’ may not be fair.” Forbes’ article, “Where Inheritance Is Concerned, Equal May Not Always Mean Fair,” asks you... Continue reading
Posted Dec 4, 2017 at Orange County Estate Planning
“You can’t be forced to take on the burdens of the administration of an estate, merely because you are an heir.” If your father died suddenly of a heart attack in New Jersey without a will - but had a home with a second mortgage, a vehicle and significant credit... Continue reading
Posted Dec 4, 2017 at Orange County Estate Planning
“There are a handful of states that allow a person to probate a will…before the testator… dies. In recent years, there has been a trend to expand this practice to more states.” This practice, which lets challengers contest the validity of a will before the person who created the will... Continue reading
Posted Dec 3, 2017 at Orange County Estate Planning
“Most people don’t want to be a burden on their family or children. One of the best things you can do to accomplish this goal, is to get your estate planning in order.” What if your spouse is ill and you meet with an estate planning attorney to organize your... Continue reading
Posted Nov 28, 2017 at Orange County Estate Planning
“Chuck Berry started playing in the early 1950s. It really took his death to get him to stop.” When a celebrity passes away, it looks as though money left behind may be only the beginning of the estate’s wealth. This is because a star’s death can result in an influx... Continue reading
Posted Nov 27, 2017 at Orange County Estate Planning
“As with those who have endured other types of abuse, victims of financial elder abuse often feel they can't or shouldn't seek recourse.” Perpetrators of financial exploitation are frequently family members, caregivers or other people who are known and trusted by the elderly. This makes many seniors who are financially... Continue reading
Posted Nov 26, 2017 at Orange County Estate Planning
“If you don’t want money you’ve worked hard for to pass down to your son’s or daughter’s ex, then consider a trust.” The federal estate tax exemption in 2017 is about $5.5 million per person or $11 million for married couples. As a result, creating a trust to save on... Continue reading
Posted Nov 25, 2017 at Orange County Estate Planning
“Thanks to Father Time and copious amounts of prescription drugs, people are living longer. But with longer lives comes the potential for increased healthcare needs.” It can happen out of the blue. One second your folks are in pretty good shape. The next second, your dad is in the hospital... Continue reading
Posted Nov 24, 2017 at Orange County Estate Planning
“Funerals cost $6,000 and up, but planning can help you cut the big expenses.” No one likes to talk about death, because it's considered taboo. But one subject even more taboo is money, contends gobankingrates.com. According to its article, “7 Money Secrets about Dying That No One Wants to Talk... Continue reading
Posted Nov 23, 2017 at Orange County Estate Planning
“IRAs were established to help Americans save for their future, and retirement savers should take advantage of tax shelters such as IRAs to build and grow their nest eggs.” A GOBankingRates.com survey found that one in three Americans has saved nothing for retirement. One great way to get started on... Continue reading
Posted Nov 22, 2017 at Orange County Estate Planning
“Family limited partnerships (and similar entities), while useful in an estate planning strategy for high-net-worth clients, are often hotly contested by the IRS for their ability to transfer wealth within a family and minimize transfer taxes in the process.” Family limited partnerships establish a business entity to hold assets that... Continue reading
Posted Nov 21, 2017 at Orange County Estate Planning
“One of the legendary fortunes just moved one generation farther from the source. The next few years will determine whether dynastic planning has hit its ultimate limit or will truly run forever.” John D. Rockefeller was the poster child for long-term estate planning 80 years ago. David Rockefeller, the last... Continue reading
Posted Nov 20, 2017 at Orange County Estate Planning
“Even though determining how to pass on assets is not always clear cut, many people decide to simply divide assets equally among their heirs. Yet in a number of different situations, ‘equal’ may not be fair.” Forbes’ article, “Where Inheritance Is Concerned, Equal May Not Always Mean Fair,” asks you... Continue reading
Posted Nov 15, 2017 at Orange County Estate Planning