Over the years I’ve had clients who knew they’d been named in estate planning documents as executor of an estate, and I’ve had others who found out only after a relative died that they had to settle an estate. In most cases, I’d get a call asking, “What do...
It’s one of the most obscure taxes in the IRS code, but it can be one of the most devastating at a time when you can least afford it. It’s called the Widow’s Penalty Tax—a stealth tax you never see coming—that can cause a widow or widower to struggle...
The desire to leave a legacy when you depart this world has always been the reason to do estate planning. Until now, that’s been enough. But in today’s world of technology, few people are considering what to do with their digital assets—Facebook accounts, Twitter accounts, your business website, online banking. What happens to...
Alhambra's Bob Williams describes the difference between Common and Solemn Probate and the pros and cons of each.
May you live in interesting times. Although that sounds like an ancient blessing, it’s believed to be a Chinese curse casting instability and uncertainty on the person who hears it. Blessing or curse, it’s a great description of the year we’ve just come through, and in spite of all the...
We’ve been focused on Covid for so long that a lot of things have taken a back seat. We’re still regrouping, trying to find the new normal. Estate planning is one of the things that’s easy to forget in this new normal. Why not? You did the estate planning,...
When the 2017 Tax Cuts and Jobs Act (TCJA) was passed it changed the rules about deductions for charitable giving. Under current law the only way to deduct charitable gifts is to itemize on your tax return. Because of that, giving to charities has fallen substantially. In 2018 almost 32 million Americans made charitable donations....
Your estate planning is complete. A living trust was created because it was the best vehicle to accomplish what you want to do. Now you can breathe easily. Or so you think. Over the years, I’ve had new clients come to me who had invested lots of time and money...