Estate Planning Blog From a Southern California Perspective

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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.
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.
Top 10 Reasons You May Need to Update Your Estate Plan Now
One 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.
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.
Shall vs. May as Used in Interpreting Trust Language
In trusts, there is a different meaning for the words "shall" and "may" and it can make all the difference when interpreting a trust.
New Estate Tax Exemption Indexed for Inflation for 2023
Revenue 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
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.
Estate Planning for Digital Assets
Digital assets should be considered when putting together your estate plan. Who can have access should an incapacity or death strike is critical for most.
Prop. 19 Parent-Child Reassessment Exclusion Limited to $1MM
The 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.
Prop. 19 and Its Effect on the Parent-Child Property Tax Reassessment Exclusion in California
In 2021, Prop. 19 went into effect and modified existing law as it relates to any California real property purchases or transfers between parents and children.

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