Dying without an estate plan drains an estate of huge sums of money that could have gone to heirs. Indeed, a lack of planning costs the estate plenty. There are fees for probate and if the estate is valuable enough, it must pay large sums of estate taxes. Plus, the settling of an estate through probate is long and drawn out. Fortunately, you can enjoy substantial savings and shorten that time by having a revocable living trust-centered estate plan.
It has been 40 years since Prop. 13 was passed, many Californian homeowners are not familiar with it. This blog entry will provide you with some background on Prop. 13 plus explain some ways you can avoid having the value of your home reassessed (and prevent the likely increase in property taxes) when you have a change of ownership on your home.Read More