It is important to update your trust and estate plan regularly to protect your interests and meet the changing requirements of your future while integrating changes in law and best practices to provide for every potential scenario. "We were meaning to make some changes when Bob's health rapidly declined -...
The Immediate Importance of Estate Planning
What is the immediate importance of estate planning and why should any parent, business owner, homeowner, or those nearing retirement be focused on this issue? Why do most people delay one of the most critical financial and personal planning issues during their life (and after)? What changes are approaching within...
The Step-Up Benefit of a Revocable Trust
What is the step-up benefit of a revocable trust from the perspective of the beneficiaries? How can a revocable trust not only pass money and assets to your beneficiaries but save a substantial amount of tax in the process? The answer lies in an understanding of the short-term and long-term...
Remarriage and a Blended Family – It’s Time for a New or Updated Estate Plan
Are you considering remarriage? Do you and/or your spouse have children from a previous marriage? If so, remarriage and a blended family are excellent reasons for a new or updated estate plan. Blended families are quickly becoming the "norm" here in San Diego and across the U.S. What do you...
Passing Assets and Accounts to Your Heirs Is About To Become Much More Difficult
If you are in the process of long-term estate planning or updating an existing estate plan, the process for passing assets and accounts to your heirs is about to become much more difficult and expensive. Presently, each individual can pass $13.61 million in assets to beneficiaries and future generations without...
You Need to Review Your Irrevocable Trust
Do you employ an irrevocable trust or trusts as part of your estate plan? You need to review your irrevocable trust to ensure it still delivers the benefits intended. It is generally possible to modify an irrevocable trust, however, this requires expert guidance from an experienced tax and estate planning...
What Do You Need to Know About a Trust and Why?
Most US homeowners and business owners understand the importance of an estate plan; they just never seem to get around to completing the task. What do you need to know about a trust? Why are trusts a central component of any estate or business succession plan? A trust is a...
What is Known as the IRS Survivor’s Penalty?
What is known as the IRS survivor’s penalty, and is there anything that can be done to provide for a surviving spouse as we age? The “survivor’s penalty” is the likelihood that a surviving spouse will face higher federal and state taxes when simply changing their status from “married filing...
Success is Built into Business Succession
Isn’t it interesting that success is built into business succession. Still, the majority of US companies do not have a business succession plan in place. What is business succession planning and how does it enhance your own success and that of your business? The Important Questions at the Heart...