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What’s in Your Living Trust?

This article will summarize and shed some light on what a living trust can and cannot accomplish. This article is constructed in terms of questions and answers. These are the common questions that I get in my estate planning and probate seminars. Will vs. Living...

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Estate Tax: Will Your Family Have to Pay?

The first estate tax was imposed in 1797 to help fund a war against France. The estate tax became a permanent fixture in our tax system after World War I. The estate tax is a tax on real estate, stock, cash, and other assets transferred from deceased persons to their...

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Top 10 Estate Planning Mistakes

Contrary to popular belief, estate planning is not just for the rich because most people own a home. In California, if your home gross value is over $150,000 and you don't have a trust in place, then a probate is eminent when you die because all homes in Southern...

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Three Estate Planning Items Everyone Needs

We all own assets in one form or another. When we die, we want to make sure that the assets are properly going to those we love. We also want to minimize any confusion, unnecessary legal fees and stress for our loved ones. There are three essential items that everyone...

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10% Deposit?

Are purchasers in a probate transaction required to submit a deposit of 10% of the purchase price in Los Angeles, Orange, Riverside, San Bernardino, or San Diego Counties? The answer depends on whether your have full authority or limited authority: Full Authority:  If...

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What Happens if You Die Without a Will?

If you die without a will (also known as dying "intestate"), the State of California will decide how your assets are to be distributed. All community property and quasi community property will be given to your spouse. Separate property will generally be distributed...

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What REALTORS Must Know About Probate

In California, if your client dies without a living trust and his or her house is worth more than $150,000, then the only way you can sell the house is to have your client go through a probate.  The probate process starts with filing of the probate petition. You...

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