Posted by Mark Ruiz | Feb 10, 2025 |
n 2017, the Tax Cuts and Jobs Act (TCJA) significantly increased the federal estate and gift tax exemption, allowing individuals to pass up to $11.18 million (adjusted for inflation) to heirs tax-free. As of 2024, this exemption has risen to approximately $13.61 million per individual or $27.22 m...
Posted by Mark Ruiz | Feb 03, 2025 |
If you have a loved one with special needs, estate planning isn't just about passing on assets—it's about making sure they're taken care of for the long haul without accidentally messing up their benefits.
A lot of well-meaning parents, grandparents, and siblings make the mistake of leaving mone...
Posted by Mark Ruiz | Jan 17, 2025 |
One of the most common questions people have about probate is: "How much does it cost?" If you're dealing with the loss of a loved one or planning your estate, understanding the costs associated with probate is crucial. Here, we'll break down the typical expenses you might encounter during probat...
Posted by Mark Ruiz | Jan 06, 2025 |
As a California Estate Planning attorney, I often have clients who own property in other states. Whether it's a vacation home in Nevada, a rental property in Arizona, or farmland in Texas, out-of-state property can complicate your estate planning if not handled correctly. Failing to properly addr...
Posted by Mark Ruiz | Dec 30, 2024 |
When clients come to my office to create a Trust, one common concern is what happens if they forget to transfer an asset, such as their home, bank accounts, or other property, into the Trust. This is a frequent issue, especially for individuals who are pressed for time, such as those preparing fo...
Posted by Mark Ruiz | Dec 20, 2024 |
Many people have questions about estate planning, and one of the most common topics is whether it makes sense to name a living trust as the beneficiary of an IRA or 401(k). While this can be a good idea in some situations, it's not the right choice for everyone. Let's break down the pros and cons...
Posted by Mark Ruiz | Dec 11, 2024 |
When the settlor of a trust (the person who created it) passes away, the named Successor Trustee assumes the responsibility of managing and administering the trust's assets. One of the most frequently asked questions is: How should a Successor Trustee determine reasonable compensation? In Califor...
Posted by Mark Ruiz | Dec 02, 2024 |
A living trust isn't something you just set up and forget about. It's a tool designed to adapt as your life changes, but it doesn't do that on its own—you have to keep it updated. In this post, I'll walk you through some of the common reasons you might need to amend your living trust in Californi...
Posted by Mark Ruiz | Nov 25, 2024 |
As part of my estate planning practice, I often meet families who are struggling to manage a loved one's estate after their passing. One of the most common challenges arises when family members cannot locate the trust or will. Today, I want to share some practical steps to address this situation....
Posted by Mark Ruiz | Nov 18, 2024 |
Blended families are increasingly common, and while they bring unique dynamics and joy, they can also present complex estate planning challenges. In California, where property laws and inheritance rights vary depending on family structure, careful planning is essential to avoid unintended dispute...
Posted by Mark Ruiz | Nov 11, 2024 |
If you've recently lost a loved one and found yourself in a position where probate seems daunting, there's good news. California law allows certain estates to bypass probate altogether, thanks to the small estate affidavit procedure. As a probate attorney, I can attest that this tool can be a lif...
Posted by Mark Ruiz | Nov 04, 2024 |
When people come to my office to create a Will or Living Trust, they often ask how life insurance fits into their estate planning strategy and whether life insurance proceeds might be taxable to their Beneficiaries. This is a great question, especially for California residents who want to provide...