Most parents want to make sure their children are provided for in the event something happens to them while the children are still minors. Grandparents, aunts, uncles, and good friends sometimes want to leave gifts to beloved young children too. Unfortunately, good intentions and poor planning often have unintended results. Don’t make these common, expensive mistakes.
Talk to your kids about money Our clients at Kaiser Law Group have achieved their success in a variety of different ways coming from varied backgrounds. Some of our clients scratched and clawed their way to success from humble beginnings, while others got a leg up from their parents and used those building blocks
Are you married and is the last time you and your spouse updated your estate plan more than a few years ago? Then chances are your estate plan contains good old "AB Trust" planning (also called "Marital and Family Trusts" or "QTIP" and "Bypass Trusts") which, up until 2011, was the only way for married couples
One of the issues that I spend the most time discussing with my estate planning clients is who to choose as a successor (e.g. back-up) trustee. Most clients go with close friends or family members, although those with more complicated estates or those who have had difficult trustee experiences themselves often see the benefits of working
This week is National Estate Planning Awareness Week In 2008, Congress supported the establishment of the National Estate Planning Awareness Week. What should we be aware of this week? That slightly over half of Americans say they have no estate plan or estate planning documents in place. The National Association of Estate Planners and Councils features
Today, I just set up my wife Kristie as my “legacy contact” on Facebook. That means that if I were to pass away, she would have authority to manage my Facebook page. This article from Slate.com describes some of the additional details and considerations. Introducing Facebook Legacy Contacts At first glance, it might seem
Many of our clients know that for California residents who own real estate or otherwise have over $150,000 of assets that don’t pass by beneficiary designation, a living trust is an efficient and protective way to transfer wealth to the next generation. What people often don’t know is that one little-discussed advantage of trusts over wills
Divorce agreement In our estate planning practice, we counsel a number of blended families. They face unique issues relating to the couple’s desire to balance caring for their new spouses with protecting their children from previous relationships. The attached Wall Street Journal article from earlier this year discusses a different aspect of the overlap
Kaiser Law Group has a sub-specialty in working with blended families. Our clients in second marriages who bring children from previous relationships are seeking to strike a delicate balance between taking care of their spouse and making sure that their children are protected. Accomplishing this balance requires a great deal of trust, open communication and flexibility.
This quick article from the Wall Street Journal hits the three most basic estate tax concepts in a pretty concise and straight-forward way. If you have any questions about the interplay between the annual gift exemption ($14,000), the estate tax exemption (currently $5.43 million per person) or the lifetime gift exemption (it ties in with the