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When a loved one passes away and leaves behind assets, questions about taxes often follow. Fortunately for California residents, the state does not impose an inheritance tax. It means that if you are a beneficiary receiving property, money or other assets from a...
Taxes are one of several financial obligations that people need to consider during estate planning. Frequently, people focus primarily on estate taxes. Federal estate taxes can consume as much as 40% of an estate’s value, thereby substantially diminishing what...
Real property owners in the San Jose area have numerous responsibilities to consider. They need to ensure that they set aside enough money to cover insurance costs and property taxes. They need to maintain their homes in reasonably safe condition to prevent others...
Those looking to secure their estate and minimize tax liabilities are wise to stay informed about legislative changes that can affect estate planning and tax obligations. Recent legislation in California introduces significant updates that could influence estate...
In 1978, California introduced Proposition 13, a measure that transformed property tax calculations and had a profound impact on homeowners across the state, including those in San Jose. It is important for property owners to understand the provisions of Proposition...
Dying without an estate plan in California—or any state, for that matter—can lead to complications and unintended consequences for the assets you leave behind. What should you know about what happens if you do not make your wishes known? What will happen to your...
Becoming a parent is one of the most rewarding and life-changing experiences you can have. Along with the joy of welcoming a new child, it is important for new parents to think about how to secure their child's future. Taking the right estate planning steps is one way...
Most of us in San Jose plan to retire someday. We set money aside in 401(k)s, stocks, mutual funds and other investments during our working years so we can live comfortably for the rest of our life. And, while life expectancy has reduced slightly in the past two years, people in the United States can expect to live into their…
When it comes to estate planning, many create it to serve their needs and wishes in the event of their death or incapacitation. While these are not easy events to consider or plan for, the reality is that you never know what the future holds. The same goes for parents of children with special needs. An estate plan could serve…
When you are getting ready for a trip, you have a lot of things on your mind. Many of us create lists of items to pack or errands to take care of before we leave. One thing you may not think about before you travel is your estate plan. If you do not have an estate plan set up, creating…