Will vs Trust Will vs Trust – Which Is Right for You? No matter your age, there is a necessity to plan for unforeseen circumstances. This includes planning for your death and deciding how you would like your property distributed. An estate plan allows you to do just this. Without an estate plan, the transfer
Trusts
What Happens When Someone Dies without a Will?
What Happens When Someone Dies without a Will? What Happens When Someone Dies without a Will? If a California resident dies without a Will, the laws of intestate succession apply. This means the decedent’s estate will pass through probate court, and the court will distribute the assets according to state laws. However, this may be
What is Step-Up Basis and How is it Beneficial for Trusts and Estates?
What is Step-Up Basis and How is it Beneficial for Trusts and Estates? Step-up basis allows for the tax basis to be stepped up to fair market value upon the transfer of an asset at death. What is basis? The IRS defines basis as “the amount of your capital investment in property for tax purposes.”
Put Your Home in a Trust
Put Your Home in a Trust Owning a home is a quintessential part of the American Dream. During the excitement and joy of signing closing papers and receiving keys, very few homeowners stop to consider how to protect their home in the event they pass away. One way homeowners can protect their homes, amongst other