To have a fully functioning estate plan, you need to have coordination. The estate planner prepares the necessary legal documents, the bankers (and financial advisors) title your accounts properly and invest your money, and the accountants file the appropriate taxes. When it works, it’s a... Continue
Sonoma Sun
This week’s topic? Letting everyone know that it is NOT acceptable to simply leave assets in a trust when someone dies. For most of us, this means your parents’ trust. Most of us will receive an inheritance from our parents. Yes, other people can leave... Continue
In my office, the average time that people say “I’ve been meaning to do this,” meaning preparing an estate plan, is three years. Not kidding. This means that people are hesitant to look the future in the eye, answer difficult questions, and execute. Or maybe... Continue
There are many assets that are managed after someone dies: stocks, bonds, real estate and of course, personal property. By definition, personal property is anything that is not real estate, cash, stocks or bonds. Basically, it’s all your stuff. Most personal property is worthless. No... Continue
The first question most beneficiaries ask when discussing the receipt of an inheritance is, “How much do I pay in taxes?” Even while planning, people will ask a similar question, “How much tax will my beneficiaries pay?” Well, the answer to both is, it depends.... Continue
Many potential clients I meet with tell me that they are not ready to create a will yet. For one reason or another, they are not able to commit to a decision. It is this mentality that keeps them from creating any sort of estate... Continue
When a client comes into my office, one of the first things we discuss is whether or not they have a trusted friend or family member to act as their successor. This may be a successor trustee in the case of a living trust, or... Continue
My dad told me that it is better to act than to react. Reaction is an action performed in response to a situation or event whereas an action is performed without said event or situation. No, this isn’t more folksy wisdom found while growing up... Continue
That is the question. As Christmas time approaches, seemingly fast every year, I wanted to discuss gifting. No, not the re-gifting you’re going to do with the fruitcake or massaging cell phone case. The gifting you do to transfer wealth to the next generation in... Continue
The continuing saga of a beleaguered Sonoma mother of five on the trail of a missing emerald – the legendary Green Tara. Beatrice’s voice intrudes into Rachel’s daydream. Her middle daughter, with her dyed purple bangs covering her face, stands at the passenger window of... Continue