No one likes to think about having someone else act on their behalf, but there may come a time when, due to illness or other incapacity, you cannot act for yourself. That is why it is important to have powers of attorney in place, one for general and financial concerns and another for medical […]
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Is There a California Estate Tax?
There is a federal estate tax that can be a factor regardless of your location in the United States, but is there a California state estate tax? This is a question that is frequently asked, and we will provide the answer in this post. The Unfortunate Dozen State-level estate taxes are the exception rather than […]
Estate and Gift Tax Planning and the TCJA
It is somewhat unusual to highlight 2026 taxes in 2024, but we are in an unusual situation: Many of the provisions in 2017’s Tax Cuts and Jobs Act will expire at the end of 2025 unless Congress acts to extend them. Taxpayers need to be aware of how they will be affected so they […]
Don’t Buy Into These Inheritance Planning Myths
There are inheritance planning myths that have been in circulation for years. Some people buy into them, and their loved ones pay the price in the long run. In this post, we will look at some of these myths so you can steer clear of misconceptions. Estate planning is only necessary for senior citizens. We […]
What Independence Day Teaches Us About Estate Planning
The 4th of July reminds people of the flag, freedom, and fireworks! As our nation’s birthday approaches, we should reflect upon what freedom means to us. Creating an Estate Plan provides a level of individual freedom – a peace of mind regarding your family’s well-being and the legacy that you leave for them once you are gone.
Do You Need a Will and a Trust?
Everyone wants to protect their families, even after they pass from this world. That’s the purpose of estate plans. But how do you know whether all of the elements of a good plan are in place? The first step is understanding the difference between a will and a trust: Because wills must pass through […]
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