Creating an estate plan can involve unique challenges if you have a high net worth. Preserving your assets for your children is a complex process that requires a thorough understanding of tax laws and estate planning. Prepare your estate early You may just be starting...
When you have a child, you are responsible for every aspect of that child's care. You must also provide for that child should you die. With guardianship, you can make arrangements for your child's care in the event of your death. Losing a parent can be traumatic for...
Anyone with assets needs to plan for the future. This reality holds especially true for people with significant wealth. Two essential components of estate planning are trusts and wills. Each can play a role in who gets which assets after your death. Despite this...
A bypass trust can benefit you in several ways after your spouse dies. Separating your spouse's assets from your own can help you protect your money from creditors, reduce your estate taxes and more. Despite its benefits, the problem with this type of trust is that...
Some may feel fear about making plans for their future, especially when it comes to their children. They also may feel some concern about their assets and what to do with them. The reality is that while it may be intimidating to think about these things, doing so can...
The global financial crisis of 2008 motivated the elusive Satoshi Nakamoto to create cryptocurrency as a safer alternative to federal monies that remain in the hands of governments, banks and companies. In the ensuing years, individuals made non-fungible tokens (NFTs)...
Most people consider a family member or close friend to serve as their trust administrator because they want someone they know and love who understands their wishes. However, when your chosen trustee becomes untrustworthy, it can change your family dynamics and cause...
Preparing your estate plan can help you protect your assets and interests after you die. One of the foundations of this plan is your will. According to the American Bar Association, a will allows your executor to distribute certain property according to your wishes...
While the state of California does not have a state-specific estate or gift tax, federal taxes still apply to the estates of California residents. People often get estate and gift taxes confused. How are the federal estate and gift taxes different? What is different...
The estate plan that includes the will belongs to the person who has died. Once the will reaches probate, the person listed as the beneficiary receives the inheritance. However, you may not be the only person to get money from the estate. California is one of the...