If you want your money to go to the people you choose and avoid unnecessary tax losses, consider how your assets are structured and which planning tools you implement. These factors can significantly affect how much of your estate is preserved and reaches your intended beneficiaries. Because different assets are treated differently under the […]
Trusts
What Is a Living Trust?
A revocable living trust is a written agreement that places some of your assets under the control of a trustee according to terms you establish. Typically, you can name yourself as one of the trustees allowing you to manage the trust assets while you live. Because the trust is revocable, you can amend its […]
Protection Through Estate Planning: The Hidden Cost of Being a Daughter
Hey everybody, this is Bridget MacKay with MacKay Dressler Law Firm. Today, I want to talk a little bit about the hidden cost of being a daughter in an estate plan. So today we’re kind of talking to the next generation, the adult children who are helping their elderly parent or friend, neighbor, aunt, […]
Understanding Revocable and Irrevocable Trusts
Revocable trusts are the more flexible of the two structures. When you create a revocable trust, you retain control over the assets you place in it during your lifetime. As long as you are legally competent, you can add or remove assets, change beneficiaries or trustees, adjust distribution terms, or revoke the trust entirely. In […]
Gray Marriages: Late-in-Life Unions
The growing trend of “gray marriages” refers to those who are remarrying or marrying for the first time in their 50s or older. Marrying later in life makes a lot of sense regarding being able to pool retirement income and share financial responsibilities. In addition to having greater spending power, companionship in your retirement […]
How to Transfer Your Home to Your Children the Smart Way
Hi there. My name is Miranda Dressler, an attorney with the MacKay Dressler Law Firm in Petaluma, California. And today we’re going to be talking about a little bit about one of the most common questions we get around property, which is, you know, how can I pass my home to my children without […]
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