Is It Time To Review Your Estate Plan?
While you may have your executed estate planning documents in place, it is crucial to review those documents and their contents at various points in time. Estate planning is an ongoing process and requires routine review to ensure your documents are actually accomplishing your goals. Although we usually think of wills and trusts as the […]
6 Reasons To Create An Advance Health Care Directive Regardless Of Your Age
An Advance Health Care Directive is a document which allows an individual to appoint one or more medical decision makers to assist should they ever be unable to make decisions themselves. Advance Health Care Directives also allow individuals to customize their wishes for end of life and life sustaining medical treatments. These documents are useful […]
When Is A Will Not Valid? Creating a Will to Avoid Mistakes and Invalidation
When is a will not valid? How do you create a fool-proof will? Many individuals create wills during their lifetime so they can control the disposition of their assets after they pass. Creating a will during your lifetime also spares your family or friends the struggle of guessing what your wishes are, especially if those […]
Are Legal Fees for Estate Planning Tax Deductible?
The short answer is unfortunately no. Costs and fees associated with creating your estate plan are generally not tax deductible. However, the Internal Revenue Service (IRS) publishes regulations regarding miscellaneous tax deductions in their Publication 529. This document details nondeductible items, including miscellaneous itemized deductions. It also discusses some miscellaneous items which you can deduct. […]
Trust Administration Process
Creating a trust is one of the best ways to protect and preserve assets upon death. But a trust is not a self-sufficient document. Upon the death of the decedent (the grantor, or the person who created the trust), the trust must be administered according to its terms. Below we discuss some important elements of […]
Estate Planning Checklist
It is never too early to begin planning for you future. Saving for retirement is a great example of an investment people make in themselves, and in their futures. In addition to saving and investing, many people also choose to prepare for their futures by creating an estate plan in the form of a living […]
How to Write a Will in California
Creating a will is the easiest way to ensure your assets are appropriately distributed to your loved ones. Residents of California are allowed to write their wills, but regulations apply before a court can consider this a valid, legally binding document. The legal team at Weiner Law can help you explore options if you want […]
The Biggest Mistake Parents Make When Setting Up A Trust Fund
Establishing a trust for your child is one of the most practical estate planning strategies. A trust has various benefits, including providing educational funds and protecting your child’s inheritance. When creating this type of trust, parents are faced with many decisions, and a wrong step on this journey may cost their children later in life. […]
Proposed Federal Estate Planning Changes: Trusts, Taxation, And Planning For Your Future
This week the House Ways and Means Committee (“the Committee”) released drafted legislation to increase certain taxes beginning in 2022. The increased taxation is meant to raise revenue to support some of the estimated $3.5 trillion which the federal government seeks to spend as part of a domestic investment plan. While the President has promised […]
When Does a Revocable Trust Become Irrevocable?
Creating a revocable trust is a cost-effective and often straightforward estate planning strategy with a range of benefits, including safeguarding assets and avoiding probate. However, many people do not realize that a revocable trust can become irrevocable. This article explores situations when a revocable trust become irrevocable, along with other critical things you should know […]