AB150: What you need to know to save on taxes
Sep 03, 2021
On July 16, 2021, Governor Gavin Newsom signed Assembly Bill 150 into law. This bill enables certain California taxpayers to write off more than the $10,000 limit placed on state…
They say we die twice.
Aug 12, 2021
This is a picture of me and my uncle (who I call “Mama”) taken when I first moved to Michigan from India. Mama was the world’s greatest listener, as you…
Tax Changes Coming? What you can do…
Aug 12, 2021
A lot of people have been talking about what President Biden’s tax plan will look like and whether there’s anything we can do now. In April of this year, Biden…
Choosing Your Permanent Guardians… And Avoiding The Wrong Ones!
Apr 01, 2021
What to Think About When Naming Permanent Guardians Most estate planning attorneys will encourage you to set up estate plans for many reasons: to protect against probate; to plan for…
What does per stirpes mean?
Apr 01, 2021
Per Stirpes vs. Per Capita at Each Generation? Say What? While engineering your estate plan, you’re likely to come across the terms “per capita at each generation” or “per stirpes.”…
Why file a Form 706?
Apr 01, 2021
IRS Form 706 is commonly known as an “Estate Tax Return.” It is not well-known even by most accountants and is rarely filed. But estate planning lawyers will swear by…
How Trust Administration Works: Each Step Explained
Apr 01, 2021
HOW TRUST ADMINISTRATION WORKS What happens if someone creates a trust and then dies? Now what? The person in charge is called the “successor trustee.” Being a successor trustee is…
How a Probate Works: Each Step Explained
Apr 01, 2021
How Probate Works If your loved one has passed away and left behind certain assets, you may or may not have to go to court in order to access or…
Should I name my trust as the owner or a…
Apr 01, 2021
This is a common question from those who set up living trusts. First off, if you are contemplating NOT doing a trust because you plan on just owning an account…
Do Beneficiary or Joint Accounts Avoid Probate?
Mar 15, 2021
Whether intentionally or not, some people are of the opinion that a trust is not necessary either because they have someone else named on their account or because there is…
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