Part 2: Understanding Charitable Vehicles Choosing the Right Tool: Donor-Advised Funds, Private Foundations, and More In the first article of this series, we explored the heart behind charitable giving, the motivations that drive generosity and the legacy it can...
Part 1: Foundations for Charitable Giving Why We Give: The Heart and Strategy Behind Charitable Contributions In every estate plan, there is a story. A story of values, of legacy, and of what truly matters. For many of my clients, and for my own family, charitable...
INTRODUCTION On April 1, 2025, California quietly but significantly reshaped the way families handle inheritance and property transfers. Assembly Bill 2016 (AB 2016), now in effect, marks a long-overdue modernization of the state’s probate system. For many...
A Key Component of a Comprehensive Estate Plan INTRODUCTION: Estate planning is the process of contemplating, planning, and arranging to manage your affairs in the event of death or incapacity. This process involves creating legal documents to manage assets, health...
Uniform Directed Trust Act: The California Uniform Directed Trust Act (“UDTA”) came into effect January 1, 2024; amending California Probate Code by adding Sections 16600 through 16632, explicitly authorizing the use of directed trusts. A directed trust allows persons...
WHAT IS A HOLOGRAPHIC INSTRUMENT? Handwritten Will: The term holographic instrument is typically used to reference a handwritten will – that is, a will in the testator’s handwriting instead of being typed out in a more traditional fashion. California considers...
ESTATE, GIFT, AND GENERATION SKIPPING TAX EXEMPTIONS The Estate Tax is a federal tax levied on the transfer of wealth when an estate exceeds a predetermined amount in effect the year an individual passes away; is often referred to as the lifetime applicable exclusion...
WHAT IS GIFT TAX? The Internal Revenue Code (“IRC”) imposes a gift tax on transfers of assets to an individual other than a spouse or dependent when such transfers exceed a specified amount – often referred to as an annual exclusion amount. Similar to the estate tax...
WHAT IS ESTATE TAX? In the United States, there is a federal estate tax (sometimes called a death tax), which is imposed at a person's death on the transfer of assets. When an estate's value at the time of death exceeds a limit set by law, which changes regularly, the...
POWER OF ATTORNEY EXPLAINED At times individuals will ask us what a power of attorney is. In short, a legal document that gives someone else the power to act for you Perhaps a more thorough answer is a power of attorney is written authorization given by one person, a...
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