Probate, Estate Planning and Trust Law
Law Offices of Alice A. Salvo  Law Offices of Alice A. Salvo
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October 2015 Archives

The difference between durable and springing power of attorney

For many of the Woodland Hills clients with whom we work here at The Law Offices of Alice A. Salvo, the decision of whom to give power of attorney and what form to grant unto them is a difficult one. Specifically, you may question what the differences are between the various forms of power of attorney in California. As whomever you hand over power of attorney to will have great influence over your finances, health, and general well-being, it is important that you understand how and when that authority is granted.

Special Needs Trusts in California

For Woodland Hills residents who begin seriously contemplating estate planning at a later age, the care of their children may not be at the forefront of their minds, given that the children are likely adults. Yet what about adult children with special needs? According to the website SpecialNeeds.com, as of 2006, there were more than 716,000 developmentally disabled adults in America whose primary caregivers were over the age of 60. Aging parents in such a situation no doubt want to include provisions in estate dispersion tools that see to the needs of these children. However, they need to know how to do it correctly.

Understanding estate taxes

Many of the San Fernando Valley residents that come to see us here at The Law Offices of Alice A. Salvo all share the same concern: estate taxes. If you are current going through a transition of assets following a loved one’s death, this is definitely a topic worth researching. However, a lot of misinformation exists about who actually owes estate taxes, and how much they actually do owe. This often leads to concerns that can cause a good deal of undue stress.

Reviewing executor compensation in California

The task of being the executor of an estate in Woodland Hills can be a daunting one. According to the American Bar Association, the duties of an executor include handling unpaid debts and expenses, overseeing the proper administration of trusts and gift disbursements, as well as paying taxes. Once that is done, there still is the matter of officially closing the estate with the court. While any expenses incurred from performing one duties as executor are paid from the estate’s assets, fulfilling the role of executor can also require a great deal of one’s time and energy. Fortunately, the law does allow an executor to be compensated for his or her services.

The details behind DNR orders in California

When most in Woodland Hills contemplate the topic of estate planning, they no doubt immediately associate it with maintaining the power to enforce decisions after one dies. Yet what about maintaining that same control before one’s death? Another vital component of estate planning is preparing for this exact scenario.