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March 2018 Archives

How do the new tax laws affect my estate?

If you have not reviewed your California estate plan in the past couple of years, you may be in for a pleasant surprise when you do. The Tax Cuts and Jobs Act that Congress passed and President Trump signed into law late last year may have dramatically increased the value of your estate, giving your heirs and beneficiaries more than you thought.

What is an estate’s final accounting?

If you are a California resident who is serving as the personal representative of someone’s probate estate, you already may know that one of your last duties is to prepare the estate’s final accounting and file it with the Superior Court. You must do this so the court can officially close the estate.

Should a 529 plan be part of your overall estate plan?

If you are a California parent or grandparent who wants to help pay for your children's and/or grandchildren's future college expenses, you may wish to consider setting up a 529 plan for each of them. Per the U.S. Securities and Exchange Commission, a 529 plan is a college savings plan that benefits your child or grandchild while giving you tax advantages.

What is a living will?

As a California resident, if you have not have heard much about estate planning in general or living wills in particular, you may wish to find out more about the benefits a living will can give you. You probably know that your will allows you to state how and to whom you want your assets distributed when you die. But what about a living will? What does it do for you?

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