Legacy planning is much more than a configured documentation of your assets. It is both a personal and procedural preparation of your life requiring additional foresight and planning for beyond. Developing a solid estate plan requires a culmination of knowledge based on law, accounting, and a level of customization that only a good estate planning…
Continue reading…Category: Estate Administration
Estate Planning Is Dead
by Daniel Scott, Forbes July 26, 2018 Link to Original Article Estate planning is dead. Gone are the days of creating legal structures to hold your assets, pass your fortune on to the next generation and, of course, avoid paying estate taxes. Gone are the days of planning for your death. It’s time to plan for…
Continue reading…What Is Probate?
At Phillips Ballenger, we believe that proper estate planning is essential in avoiding probate. Probate, a process regulated by statutory guidelines and applied through the courts, is triggered when an individual dies without a trust. This process, like other forms of litigation, can be long, arduous, and sadly, adversarial. This week, we give you an introduction…
Continue reading…Celebrity Estate Planning Mistakes – UPDATE: Aretha Franklin Did Not Have a Will!
Large and complex estates are not always adequately planned for. The most recent example of this is the unfortunate passing of famous vocalist, Aretha Franklin. At 76, the singer’s illustrious career is left, vulnerable to the effects of probate, because no will or trust document was left to allocate her assets (link). Unfortunately, her heirs…
Continue reading…CA Property Tax Breaks: Parent-to-Child Exclusion
PLEASE NOTE- THIS INFORMATION IS AGED- PLEASE REFERENCE UPDATES TO THE LAW NECESSITATED BY CA PROP 19, WHICH BECAME EFFECTIVE ON FEBRUARY 16, 2021, AND SEVERELY LIMITS THE PARENT / CHILD EXCLUSION. California property owners: your wish to transfer your real property interests to a loved one may be eligible for an exclusion! California real property,…
Continue reading…Celebrity Estate Planning Mistakes
Just like regular people, celebrities also fail to adequately plan for their estate. Estate planning is a vital tool that provides guidance in the event of a death. It is a common belief that because celebrities have much more wealth than the average person, protecting that wealth would be of the utmost importance. However, there…
Continue reading…Estate Planning Questions Everyone Should Ask Themselves
Whether you are a Type-A personality or a spontaneous adventure seeker, there are some issues you should consider when thinking about your life and legacy. Estate planning is not only for those who like to map out the rest of their lives down to the day (like me ), or for the ultra-rich; there are…
Continue reading…Guardianship Issues – Awareness & Planning Wins
Getting older and losing one’s independence is a topic that most don’t like to think about, let alone plan for. However, it is extremely important to talk about these difficult issues in order protect Senior Citizens from being taken advantage of by unscrupulous third parties. The number of Americans ages 65 and older is projected to…
Continue reading…Who Are the Decision Makers in Your Estate Plan? (Part 2)
Welcome back to the second installment discussing key decision makers. Part 1 introduced the concept of decision makers and we named some active roles. This week, we are finishing up this topic by naming a few more roles that are pertinent parts of running a successful estate! Enjoy! Agent (Durable Power of Attorney for Healthcare…
Continue reading…Who are the Decision Makers in Your Estate? (Part 1)
Who are the Decision Makers in Your Estate Plan? (Part 1) Within an Estate Plan, there are decision makers that are appointed to make sure your estate runs efficiently and appropriately after you are gone. Some of these decision makers will play a very small role and some will have a larger, more active…
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