Why should you be reading the Geiger Law Office blog? Because estate planning isn’t just for the super-wealthy! You want your assets to be put to good use by your heirs, and you want your values to outlive you. If you are in the process of planning your estate in California, read our latest postings to get great advice for your—and your family’s—futures.
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How Long Does It Take to Settle a Revocable Trust After Someone Dies in California?Legally settling a revocable trust in California after a death with trust administration varies by situation, but typically takes about a year or little longer.
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What Could Happen if I Don’t Have an Estate Plan?If you don’t have an estate plan in place and you live in California, you could trigger a conservatorship if incapacitated or a probate action if you died.
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What Taxes Will My Family Have to Pay When I Die?The answer to this question largely depends upon the size of your estate when you pass, who you leave your assets to and the type of assets you leave behind.
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Top 10 Reasons You May Need to Update Your Estate Plan NowOne of the most frequent questions we get asked is “how often do I need to update my estate plan”? Typically, we advise updating every 3 to 5 years.
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What is the Difference Between a Will and a Trust?Wills and Trusts are similar in that both are legal vehicles for passing assets at death and can each be amended throughout the will or trust maker’s lifetime.
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Shall vs. May as Used in Interpreting Trust LanguageIn trusts, there is a different meaning for the words "shall" and "may" and it can make all the difference when interpreting a trust.
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New Estate Tax Exemption Indexed for Inflation for 2023Revenue Procedure 2022-38 recently released announcing the new estate and gift tax exemption amount of $12,920,000 and $17,000 annual gift tax exclusion in 2023
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What is the Difference Between a Will and a Trust?Wills and Trusts are similar because both pass assets at death, but the differences are far greater. Wills go through Probate but Trusts typically do not.
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Estate Planning for Digital AssetsDigital assets should be considered when putting together your estate plan. Who can have access should an incapacity or death strike is critical for most.
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Prop. 19 Parent-Child Reassessment Exclusion Limited to $1MMThe originally assessed value of the home gets added to $1MM of fair market value for a combined value of $1MM plus the originally assessed value.