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August 2015 Archives

How can you talk to your beneficiaries about their inheritance?

The last thing that you want is for the terms of your estate to create discord amongst your family once you are gone. This then prompts the question of how can you have a frank discussions with your future heirs and beneficiaries about their inheritance. According to the Huffington Post, over $15 trillion dollars will go through a generational transition by 2026. When that amount of money is involved, it is difficult to expect that no one will have their feelings hurt. However, you can ease the transition of your assets in Woodland Hills by setting expectations now.

How do you file estate taxes?

When you are named as the executor of an estate in Woodland Hills, one of the tasks that you are expected to oversee as part of the probate administration process is the filing of estate taxes. Fortunately, filing an estate tax return isn’t all that different from filing your own personal income tax return.

Avoiding the potential of public guardianship

If you’re like most, you probably think that we here at The Law Offices of Alice A. Salvo stress the importance of estate planning so that you can control what happens with your assets when you die. Yet could it also be that we want you to avoid having to surrender your assets, property, and even your decision making to a potential stranger, all while you are still alive? That’s exactly what could happen if you’re placed under the care of a public guardian.

What is probate?

Managing the affairs and estate of a deceased person in California can be a complex task. If you find yourself in this position, you should have a basic understanding of what probate is. The California Courts identify probate as essentially a form of court case. The focus of any probate case is on tying up any loose ends associated with the legal issues and belongings, assets and debts of the person who has died.

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Woodland Hills, CA 91364

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