Category: Estate Planning

  • Talk to Your Family over the Holidays about Your Estate Plan

    Many of us labor a lifetime to build up our assets and fight for causes that matter to us. Few things are more fulfilling than the thought of sharing wealth and legacy with our family.

    Of course, it’s impossible to plan for every eventuality, but careful planning can mitigate against the two primary risks.

  • Why you need an estate plan. Now.

    Amazingly, 6 in 10 U.S. adults don’t have a will or living trust, and almost half of boomers (age 53-71) haven’t put their estate planning documents in place yet. In my experience, I have seen that most people fail to set up an estate plan because they simply don’t know they need one. Estate planning isn’t just for the wealthy, every adult needs some level of estate planning regardless of their age or how many assets they have. In fact, if you don’t create your own estate plan, then you are on the default plan that the State of California has in place for you (and you probably won’t like it).

  • Who Will Inherit Your Financial Wisdom?

    Many people who inherit wealth or small businesses are at significant risk for essentially squandering the wealth. An Ohio University study shows that an astonishing 33 percent1 of all beneficiaries lose their entire inheritance within two years of receiving it. The ways they manage to do so are as varied as the imagination, but in our experience we have seen a common thread: mismanagement.

  • Is your trust funded?

    A trust avoids probate, but an empty trust does not. What do I mean by that? You have probably heard me say that a trust is like a bucket and you need to fill it with your assets for it to avoid probate. Retitling your assets to your trust is referred to as “funding” your trust. In this newsletter, I’ll explain more about the funding process as well as which assets to retitle into the trust.

  • Is your child turning 18 this year?

    Here’s an issue many families overlook when children leave for college: That child, in the eyes of the law, is now an adult—and needs some all-important documents.

  • Very important information for small business owners

    Congress passed a paycheck protection program for small businesses. The Paycheck Protection Program sets aside $350 billion in 100% federally-backed loans for small businesses that may be forgiven if borrowers maintain their payrolls during the crisis or restore their payrolls afterward.

  • We’re here for you during this difficult time

    Due to the Governor’s order, I am now only meeting with clients via video or phone conference. As some of you may know, I have met with clients virtually before, so systems are already in place for that.

  • A Primer on Proposition 13

    A ballot measure is coming to the November 2020 ballot to change Prop 13, which change would create what is called a “split roll”. The “split roll” would increase property taxes for commercial and industrial properties, except those zoned as commercial agriculture or that are owned by small businesses (fewer than 50 employees). So, if you are a homeowner, you can rest at ease… for now. Some opponents on the measure argue that this change to Prop 13 will only bring on more change in the future. You may be wondering what exactly is Prop 13?

  • Have minor children? We’re helping families name Guardians for their kids at no cost!

    When my wife and I did our estate plan, the hardest choice we had to make was who would take care of our kids if something happened to us. To help in the decision making process, here is a handy guide any parent can use when deciding who should be the Guardian for their kids.

  • Have a child or loved one going to College?

    Here’s an issue many families overlook when children leave for college: That child, in the eyes of the law, is now an adult—and needs some all-important documents.