Estate planning can be a lifelong process that evolves as your assets grow and your family situation changes. This may lead you to wonder if there is a point at which your circumstances become too complicated to start an estate plan. While many experts recommend...
Estates & Trusts
Do you know the basics of probate?
Understanding how probate works can inform your estate plan. You can make the right choices depending on your goals for your estate, your intended beneficiaries, and other factors. Review these California probate basics if you have been thinking about planning your...
Does having a home office increase IRS audit risk?
Few life events are more stressful than an IRS audit. After all, not only must you gather tax and other financial records that may be hard to find, but you may also face a stiff penalty when the audit concludes. Put simply, there is nothing wrong with trying to lower...
Why and when you should update your estate plan
If you made an estate plan and think this important step is a one-and-done process, think again. Even the most carefully considered plans are not evergreen. Estate plans can become irrelevant by any manner of things. Changes to your assets, fluctuations in family...
The IRS is auditing me. What does that mean?
After feeling the relief that follows submitting taxes on time, having an IRS letter show up a few months later can be stressful. While sometimes the letter is only for a minor update notification, other letters announce government audits of individual tax returns. If...
5 Myths about estate planning
When it comes to finances, everyone understands that planning for the future is vital. Still, some believe that estate planning is only for individuals in specific situations. Here are some common misunderstandings that persist about estate planning. 1. You need to be...
Yes, young families do need estate planning
Many people believe that only older adults or wealthy people need an estate plan. However, everyone needs estate planning regardless of age or existing assets. Preparing for the future is especially crucial for families with young children. Selecting a guardian for...
Why should new parents have an estate plan?
The birth of a child involves many questions about that child’s future. What will they be like as they grow? What college might they attend? What career will they pursue? While they dream of the future, parents should also take care to protect their child, and estate...
Advantages of hiring a tax attorney when dealing with the IRS
An IRS bill, audit or investigation can create taxpayer stress. Individuals and business owners in this situation often feel overwhelmed and unsure about how to proceed. Review these reasons to hire an experienced tax attorney when facing an IRS issue. Negotiate an...
3 tips to help your parents with estate planning
Not all parents speak to their adult children about their family’s estate plans. If this information comes out after the death of your parents, you as their child may feel limited in what you truly know about your parents’ wishes. Asking difficult financial questions...