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…Category: Trusts
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…Back-to-School Checklist: A Reminder to Reassess your Financial Planning (Part 2)
For many families, this week marks the beginning of a new school year. This week, we continue with the academic theme, and give you Part 2 of the Back-to-School Checklist. In this final segment, we are discussing the importance of updating your trust documents and planning for the holidays. Update Your Trust Documents Established revocable…
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…I Do…But First Sign Here: Prenuptial Agreements, Postnuptial Agreements, Cohabitation agreements
Deciding whether to sign an agreement as it pertains to your relationship can be difficult. Generally, this is not a one-size fits all type of decision, and the necessity is different for every couple. Pre, Post and Cohabitation agreements are very useful for business owners, blended families, individuals with complex financial arrangements, etc. Regardless of…
Continue reading…Avoiding Entrepreneurial Burnout
Entrepreneurs typically embody ambition, drive, and passion. However, entrepreneurs often burn out quickly. Why does this happen? In short, they give too much of themselves to their venture; if it fails or if they face road-blocks, it may be difficult (mentally and/or financially) for them to keep going. Maintaining high levels of enthusiasm is hard…
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…Getting Organized in 2018: A Guide to Set Yourself Up for Success!
Getting Organized in 2018 – Things you can do now to make 2018 your best year yet! Happy New Year! In this edition of our blog, we wanted to recognize the new year of 2018, and give you some tips on how to get organized. First and foremost, resolutions are great. Goals are always inhibitors…
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