Consider Taxes before Converting Your Home to a Rental Property

Have you ever thought about becoming a landlord? This option may be tempting if your local real estate market is surging and rental rates are strong, especially if you’re already planning to relocate or downsize to a smaller home. Ideally, you’ll be able to shelter most or all of the rental income with tax deductions […]

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Should Family Members Be Compensated for Caregiving Services

As we get older, one in four of us will require some level of caregiving services. This could range from simply running errands and providing occasional transportation to doctors, shopping, to providing extensive around the clock care.  Experts estimate that family members provide more than $450 billion in elder care services annually. One question is […]

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Qualified Domestic Trusts (QDOT)

Qualified Domestic Trusts (QDOT) The basic idea of a Qualified Domestic Trust or QDOT (normally built into most revocable living trusts) is to avoid the forced payment of estate taxes on the death of the first spouse with a large estate, where the intended recipient is a surviving spouse who is a non-US citizen. Keep […]

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Refinancing Your Home – The Biggest Threat to Your Living Trust

Is Your Home Properly Titled to Your Living Trust After Your Refinance? For most people their most valuable asset is their home.  Ensuring that your home and the rest of your estate passes efficiently to your heirs is a fundamental reason people create a Living Trust. Most people recognize they must transfer title to their […]

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Business Continuity Solutions

How does your small business Corporation or LLC pass to your family members upon your death? We have come across many entrepreneurs and small business owners who have taken their business to the next level by incorporating into a C-Corp, or Sub-S Corporation or an LLC.  This provides the business with a lot of protection […]

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Potential Heirs of Prince, say “Lets Go Crazy”

A Case for Having a Living Trust Prince Rogers Nelson (The Artist Formerly Known As Prince) died April 21, 2016 of an accidental overdose of fentanyl, a synthetic opioid drug 50 times more powerful than heroin. Prince follows a long line of celebrities who died suddenly with complicated estates, more complicated family dynamics, and no […]

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Spring Cleaning: When Can You Purge Your Old Financial Records?

Feeling the urge to purge? April 18, 2017, was the deadline for individuals and C corporations to file their federal income tax returns for 2016 (or to file for an extension). Before you clear your filing cabinets of old financial records, however, it’s important to make sure you won’t be caught empty-handed if an IRS […]

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How Much Does It Cost To Set Up a Living Trust?

The most common choice you have when setting up an estate plan is the choice between a Will and a Living Trust.  A Will is always a one-way ticket to probate, unless your estate falls below a minimum threshold of value.   In many states the minimum threshold is about $50,000.  In California, that threshold is […]

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Are All Wills a Matter of Public Record?

Your last Will and Testament is essentially your instructions to the Probate Court as to how you would like your estate distributed.   When you die and your will is submitted to the court, a probate case is opened.  As with any legal case brought before the court, it becomes a matter of public record. Most […]

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