Helping to keep our community informed is important to us. We regularly get out into the community to provide helpful information to people here in the greater San Jose area. To this end, we present an ongoing series of informational workshops covering various elder care and estate planning topics.Our workshops and seminars are free of charge and open to the public. During the next two weeks, we will be offering seminars that focus on living trusts.Why Consider a Living Trust?Some … [Read more...]
Sorting Through the Taxes That May Impact Your Estate Plan
By: Matthew M. Shafae, AttorneyLaw Office of Roy W. LitherlandThe “T-word” usually makes our eyes glaze over and we picture an overworked accountant wearing a green eyeshade crunching a bunch of numbers for us every April. Well, unfortunately, I can’t make them go away, but I can attempt to explain how taxes may impact your estate planning.Within the context of your estate plan, there are typically three main taxes that are relevant: the estate tax, the income tax, and, sometimes, … [Read more...]
Three Benefits of a Living Trust
There are a number of legal devices that are used in the field of estate planning. Depending on your unique circumstances, various different courses of action may be appropriate.Many people assume that they should use a last will to direct future asset transfers, but in fact a revocable living trust may be a better alternative.You may have heard about the numerous benefits of living trusts. In this blog post, we will address three of those benefits.Avoiding ProbateOne of the … [Read more...]
Avoiding Probate (An Elder Law Today Blog)
When an individual dies owning property solely in his or her name without a beneficiary designation, a formal procedure ("probate") is usually needed to determine to whom the property should pass. If there is a valid Will, the probate court will oversee that property passes according to the terms of the Will. If there is no Will, the property will pass to the individual's heirs at law through the probate system.However, it is possible to legally pass property to another person without going … [Read more...]
Why is Estate Planning Important in 2016?
Studies show that a majority of American adults do not have a complete and cogent estate plan in place. Failing to plan ahead for death and the likelihood of incapacity in our later years can be costly, both emotionally and financially.Many people do not have an estate plan because they don't understand the importance of estate planning. We will highlight some of the key reasons why estate planning is essential in this blog.Avoiding IntestacyIf you pass away without any estate … [Read more...]
How Can I Avoid Probate?
There is an estate administration process that takes place after you pass away. When a will is used as a vehicle of asset transfer, property becomes probate property at first. This property cannot be transferred until the estate is probated by the court, and this process can be time-consuming. There are also considerable expenses that can present themselves during probate.When you hear about these potential difficulties, you may wonder if it is possible to avoid probate. The answer is yes, you … [Read more...]
How Much Does Probate Cost in Campbell California?
How Much Does Probate Cost in Campbell California? from Roy W. Litherland It is possible to facilitate asset transfers outside of probate to avoid these expenses. Learn more about probate cost in campbell califonia in this presentation. … [Read more...]
Free Report: Is Probate Always Required in California?
If you are in direct personal possession of property at the time of your passing, even if you have a last will, the property would become probate property initially.Topics covered in this whitepaper include: Insurance Policy Records Property Held in Joint Tenancy Payable on Death Accounts Revocable Living TrustsClick here to read the whole article or download the PDF. … [Read more...]
Free Report: What are the Drawbacks of Probate in California?
The probate court must examine the will to determine its validity. If there were any challenges to the validity of the will, they could be presented during the probate process.Topics covered in this report include: Estate Challenges Time Consumption Loss of Privacy Expenses Avoiding ProbateClick here to read the whole article or download the PDF. … [Read more...]
What Questions Should I Ask an Estate Planning Attorney?
There are a lot of things that you should know when you are devising your estate plan. If you do not act in a fully informed manner, you could make mistakes that negatively impact your loved ones.When you discuss things with a licensed estate planning attorney, you can go forward in a fully informed manner. Ultimately, you can emerge from the interaction with a personalized estate plan that ideally suits your needs.In this post we will look at some questions that you may want to ask your … [Read more...]
