How to Structure an Irrevocable Life Insurance Trust (ILIT) for California Residents
What is the Difference Between a Revocable and an Irrevocable Trust? There are several different types of trusts available for those with estate planning goals in the state of California. What kind of trust suits you and your needs will depend on various circumstances and may be determined on a case-by-case basis. However, before proceeding […]
Protecting Intellectual Property in California Estate Plans
What Are the Different Types of Intellectual Property in California? Intellectual property refers to the legal rights of creators and inventors for their creative works. Suppose you have created or invented intellectual property. In that case, you can take certain legal precautions to safeguard your rights and ownership of your creations, including filing for copyrights, […]
How Can California Business Owners Use Buy-Sell Agreements in Estate Planning?
What Are Buy-Sell Agreements? Buy-sell agreements are legally binding contracts in which business owners set the terms and conditions of a future sale or purchase of a departing owner’s shares. You can use it to explain how your ownership interest in the business will be distributed or transferred upon your resignation, loss of professional license, […]
Planning for the Transfer of Cryptocurrency Assets in a California Estate
Why is It Important to Plan for My Crypto Assets When Creating an Estate Plan? The popularity of cryptocurrency has exploded within the last few years, and estate planning laws are still evolving to give it the protections it deserves. If you have explored the world of crypto or accumulated some assets, it’s crucial to […]
How to Navigate California’s Intestacy Laws When Estate Planning for Unmarried Couples
Is It Important for Unmarried Couples to Create an Estate Plan? If you’re in a committed long-term relationship but don’t intend to get married, you may delay creating an estate plan, which may be detrimental in the long term. While the law confers certain benefits and rights to legally married couples, a comprehensive estate plan […]
Estate Planning Considerations for California Tech Entrepreneurs
Estate Planning is Crucial for Tech Entrepreneurs Estate planning is vital for everyone because it ensures the smooth transfer of assets to your loved ones. If you’re a tech entrepreneur, you can benefit from an estate plan to ensure your business survives long after your demise. You wouldn’t want everything you have worked so hard […]
The Impact of California’s Split-Roll Tax Initiative on Real Estate Plans
What Are the Current Property Tax Laws in California? Real estate planning can be complex, especially because property taxes can spiral into several thousand dollars, taking away considerable estate value. When creating a real estate plan, working closely with lawyers from a reputable law firm in California is crucial to ensure you’re up to date […]
Can Your Heirs Contest a Trust in California?
How an Heir Can Contest a Trust in California When it comes to estate planning, trusts are a popular choice for many Californians looking to manage their assets and provide for their heirs. However, even with the careful crafting of a trust, disputes can arise after the trust maker’s passing. One pressing question that often […]
The Role of Digital Assets in California Estate Planning
Digital Assets in California Estate Planning In an age where digital interactions define much of our personal and professional lives, digital assets have emerged as a vital component of estate planning. As Californians increasingly accumulate online properties—from social media accounts to cryptocurrencies—the importance of properly managing these assets within an estate plan cannot be overstated. […]
Navigating Proposition 13 in California Estate Planning
What is Proposition 13? Proposition 13, enacted by California voters in 1978, revolutionized property taxation in the state. By limiting property tax rates and controlling how property values are assessed, Proposition 13 has provided significant tax benefits to property owners. However, it has also added layers of complexity for those engaged in estate planning. Understanding […]