Probate is a legal process that is processed by the Superior Court of the county of a deceased property owner. In California, if you die with assets greater in value than $166,250, and the property is not held in a trust or in joint tenancy, or has a pay on death feature, then you will…

Can I redo my estate plan before my divorce is final? The answer is yes. Once you are legally separated, you need to have an estate plan, or at least a will, detailing the beneficiaries of your estate.  Most couples’ largest asset is the family home, but even though the marital property settlement has not…

Many of us will need long term skilled nursing home stay at some point in our lives.  The cost of this care can range from $6,500 to $12,000 per month depending on the facility.  If you need skilled nursing home care in California and you qualify for Medi-Cal, the state can still come after your…

If you are lucky enough to have accumulated real property, and investment and savings account, then you already know the value of having a trust along with other critical estate planning documents.  A properly drafted trust will avoid the time and expense of probate, and prevent California from recovering any Medi-Cal benefits you may have collected…

There are actually three types of gifts you can make that may effect your taxes. The Annual Gift while you are living Each taxpayer has an “annual gift exclusion” that allows them to give $14,000 per year to any number of individuals, without paying any gift tax. That means parents can collectively give each of their children…

Make sure you update your beneficiary designations on all IRAs, 401K’s, insurance policies and any other assets that have a transfer on death designation. It’s always free and takes just a few minutes. I just completed a probate of a very large insurance policy where the father named the wife as primary but never designated…