There is a lot of confusion surrounding the taxation of pass through income versus salaried earnings as US taxpayers assess their positions after tax reform. This is far from "finished" and a wild roller-coaster ride is about to ensue for many US taxpayers. How will you know what to do? ...
Even If Washington Raises the Estate Tax Exemption to $10 Million You Should Still Have a Trust
Even if Washington raises the estate tax exemption to $10 Million you should still have a trust, especially if you are a home owner. Why? The short answer is time, money and saving a lot of hassle for your loved ones, heirs and beneficiaries. Raising the exemption on federal estate...
How Should a Couple Take Title to Their Home
How should a couple take title to their home if they intend to keep it? How is the asset to be taxed after both spouses pass? Many couples keep the asset in "Joint Tenancy" which allows the asset to avoid probate upon the death of one of the spouses. Upon...
Protecting Your Home from a Medi-Cal Lien
Protecting your home from a Medi-Cal lien is possible based upon a new California law which took effect January 1 of this year. Previously, California's Medi-Cal program was able to recover money from people who were 55 years or older who received medical services under agency programs. If the family...
A Trust Protects Your Beneficiaries
A trust protects your beneficiaries and ensures they receive your gifts in the best way for their unique circumstances. Your children, extended family and friends, causes and institutions receive your gift directly or "in trust." Many beneficiaries receive the assets you've assigned to them free and clear from all oversight...
Every San Diego Homeowner Should Have a Trust
We have often written that every San Diego homeowner should have a trust due to the high costs of probate and the time involved. Yet most San Diegans don't even have a will, let alone an estate plan which includes a trust. What should a homeowner know and why should...
Passing Assets and Accounts to Your Heirs
Passing assets and accounts to your heirs and beneficiaries in the shortest time and with minimal or no tax consequence requires expert estate planning. Allen Barron is uniquely structured to provide a single-source legal, estate planning, accounting and tax solution for complex family trusts, business succession planning and estate plan...
Remarriage and a Blended Family is an Excellent Reason for a New Trust
Are you consider remarrying in San Diego? Do you and/or your spouse have children from a previous marriage? If so, remarriage and a blended family is an excellent reason for a new trust. Blended families are becoming the "norm" here in San Diego and across the country. What do you...
How can a Trust Help a San Diego Home Owner
A revocable trust is most often the most advantageous way to take title to real estate. How can a trust help a San Diego home owner or a married couple? The estate planning and trust attorneys at Allen Barron can help you to establish a revocable trust in an efficient...