With the passage of Proposition 19 Californians have eliminated many of the property tax exemptions they have enjoyed for decades. This exemption was for transfers between parents and children and in some cases, grandparents and grandchildren. THE OLD LAW Prior to the passage of Proposition 19, a parent could transfer a personal residence of unlimited value to children without an increase in the property taxes that the parents paid on the home. So for parents, like mine, who had owned … [Read more...] about Voters Increase Taxes for Transfers of Property to Children With Passage of Proposition 19
Benjamin Franklin is credited with saying, “In this world nothing can be said to be certain, except death and taxes.” Despite the certainty of death, many put off estate planning. Death and finances are two of the most uncomfortable subjects, they are both emotionally charged, and nobody wants to talk about either one of them. One of the hardest decisions people make in the estate planning process is how much (and when) to tell their children about their plan. It is no surprise that most people … [Read more...] about The Importance of Talking To Your Family About Your Final Wishes
The number of older adults in the United States has grown significantly in recent years and experts tell us that growth will not slow down in the decades to come. In fact, by the year 2050 those same experts predict that for the first time in history, the older population (age 65 and older) will outnumber their younger counterparts (age 21 and younger). The growth in the senior population has caused an increased interest in elder care issues and concerns. While seniors face many of the same … [Read more...] about Questions to Ask an Elder Care Attorney
Hugh O’Brian, the actor and humanitarian best known for his starring role in The Life and Legend of Wyatt Earp, died in September 2016. In his estate plan, O’Brian named his wife Virginia as trustee of the estate, and beneficiaries included other family members and friends, and a charitable foundation. O’Brian died childless—however, after his death, at least two individuals brought a lawsuit claiming to be O’Brian’s children and seeking a share of his estate. Each alleged child was born from … [Read more...] about “Omitted Children” Fall Flat in Challenge to the Hugh O’Brian Estate
We’ve seen how the COVID-19 response has created problems with social isolation among the elderly. The pandemic is posing serious problems for geriatric care as well. Interruption of health care is especially problematic for older adults over age 65, who are likely to live with at least one chronic condition and who account for the vast majority of hospitalizations. Healthcare providers looking to decrease physical traffic at care facilities have turned to telehealth services to connect … [Read more...] about Telehealth is problematic for many older adults
An estate plan is designed to give clear instructions about how someone’s assets shall be distributed to his or her beneficiaries upon death. Not every estate plan is created equitably or in good faith, and the law provides recourse for individuals to challenge the legality of the document and its provisions. In this guide we'll discuss in detail four broad reasons an estate plan might be challenged in probate litigation. Part One: Formal requirements of an estate plan Part Two: Undue … [Read more...] about How Might Estate Plans Be Challenged? A Complete Guide
Going through a divorce can be a very rough time in life. Battling over income, assets and child custody can be quite exhausting. All of these distractions may cause you to miss many important tasks you must undertake. And very often the family law attorney who handles your divorce may not follow through to give you the vital information we discuss here. Your Will California law provides that any bequests to a former spouse under a Will is automatically revoked. While this … [Read more...] about Getting a Divorce? Time to Update Your Estate Plan
A joint tenancy is a legal term that applies to one of many forms of co-ownership of an asset that is held by two or more people. Parties named in a joint tenancy own the property equally. If one joint tenant passes away, the property is immediately passed on to the other living joint tenants without going through probate. Many types of assets may be held in joint tenancy, including real estate, vehicles, personal bank accounts, savings accounts, and brokerage and investment … [Read more...] about Joint Tenancy: Good Idea or Bad Idea?
If you are among the millions of Americans in a committed long-term relationship who have decided to put off—or forego altogether—marriage, estate planning takes on a heightened importance for you. The law continues to confer certain benefits and rights on the legally married that simply don’t exist outside the bounds of marriage. Fortunately, careful estate planning can accomplish what the law does not. A Riverside estate planning attorney at Sandoval Legacy Group explains why estate … [Read more...] about The Importance of Estate Planning for Unmarried Couples
Actress Naya Rivera, best known for her work on the TV series Glee, has been presumed dead by local authorities after an apparent boating accident at Lake Piru in Ventura County. Like many celebrity deaths, this tragedy is a good reminder that tomorrow is never guaranteed. Rivera, 33, and her ex-husband, actor Ryan Dorsey, share custody of their 4-year-old boy, who was found alone on a pontoon boat following his mother’s disappearance. Because of the joint custody situation, there is … [Read more...] about What Will Happen to Naya Rivera’s Estate?