Many times, obtaining life insurance is an important part of a person’s estate planning strategy. However, in some cases, just simply having life insurance is not enough for California residents. Those with large estates or who have beneficiaries who are not good at managing money may also want to consider creating trusts to go along with […]

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Just a few months ago, the world learned the shocking news that Robin Williams passed away, leaving behind three adult children and his wife of almost three years. Many people in California are likely still in shock over the news of his death. However, less than five months after his death, his wife, Susan Schneider […]

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When it comes to estate planning, some California parents ignore the benefits of the choices available to them. One example is using a trust to make sure that assets pass to intended parties. Using a trust can give parents more control over their estate versus leaving it up to a court or in the hands […]

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California residents who feel they have some assets to protect may be wondering whether a trust is the right choice and what type of trust they may need. Trusts might be a good choice for individuals who are planning their estates and need to protect their assets from potential creditors or who want to make […]

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There is various tax saving strategies that can be put into that will prevent finances in an estate from being depleted. Unfortunately, many people do not understand just how much taxes can affect one’s finances in the long-term. These strategies can be somewhat complex because every investment is taxed in a different manner. Money that’s […]

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Not long ago, a world record was broken in the state of California. No, it wasn’t something as flashy as a land-speed record, but it is a smart one according to observers. By purchasing a life insurance policy worth $201 million, a California tech mogul smashed the previous record by $101 million. Even though the […]

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When “Fast & Furious” actor Paul Walker died in November, he left behind an estate with an estimated value of $25 million. The 40-year-old unmarried movie actor created an estate plan in 2001 — a will and trust shifting assets to his now-15-year-old daughter. Young California adults are likely to have very different priorities, lifestyles and goals […]

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The estates of wealthy California residents can be subject to high federal taxes unless provisions are made to preserve assets. One goal of estate planning is to minimize the tax burden so that beneficiaries are not deprived unnecessarily of full inheritances. Federal estate taxes kick in when an estate is valued at more than $5.25 […]

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The reason most Los Angeles residents have an individual retirement account is to help supplement income in later life or, following an account owner’s death, to add to the financial support of a surviving spouse. However, some California residents see IRAs as assets meant to be passed through an estate to heirs. A new financial […]

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Legal documents used in estate planning have unique purposes. California advisers usually recommend that everyone creates a will. The same advice may not apply to revocable trusts, depending on individual estate plan desires. Revocable trusts are most often created to keep estate assets meant for heirs out of probate. A person funds a trust with assets during […]

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