Biddle Law Estate Planning Blog

Friday, April 22, 2022

Accidental Disinheritance

Creating a comprehensive estate plan is extremely important in order to ensure that your loved ones will receive that which you want them to. However, creating an estate plan often isn’t enough to guarantee this.
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Thursday, March 10, 2022

What is a Common Trust?

There’s no doubt that having kids can be financially taxing. However, it’s important to note that not all children cost you the same amount of money. When you have multiple children, you likely want to ensure that your kids feel as though they are treated fairly and equally. For that reason, you may be thinking about splitting your property to be divided equally among them. But as mentioned, different children have different financial needs at different points in time.
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Thursday, February 10, 2022

Can You Inherit Favorable Tax Treatment for Real Property?

One of the benefits of purchasing real property is the fact that it will likely appreciate in value over time. But can you imagine having to pay a substantial amount more in taxes just because your home value increases? Here’s the good news: you don’t have to. Under California’s Proposition 13, your appraised property value may only be increased by a small amount annually – unless the ownership of the property changes.

For instance, imagine that you purchased a home back in 1993 for 200,000 that is now worth $1.5 million.
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Thursday, January 20, 2022

What to Do for Your Loved One’s Estate After they Pass Away

After experiencing the death of a loved one, you may feel extremely overwhelmed without any sense of what to do next. That’s why it’s so important to have a list of steps that can help you to take care of the legal and financial matters of their estate. Here’s what to do for your loved one’s estate after they pass away.

1. Protect their valuable assets from theft.
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Thursday, January 20, 2022

How Does a Power of Attorney Change When Someone Reaches 18?

Many young people look forward to turning 18 and entering into adulthood. Once they reach the age of majority, they are now legally able to vote, marry, apply for a credit card, live independently, and make financial and medical decisions. But what happens if someone reaches 18 and is injured in an accident, requiring somebody else to make medical decisions for them? Unfortunately, this is a question that many parents must encounter when their children suffer an injury in an accident.

If a guardian is needed, as a parent you are not automatically granted the right to make these decisions. Heaven forbid you should find yourself in that situation, you would be facing expensive and lengthy court proceedings.
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Friday, October 29, 2021

Digital Estate Planning in California

There’s no doubt that we do more and more online each and every day. So while we tend to think of our physical assets when establishing our estate plans, it’s equally important to consider your digital life.
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Thursday, September 23, 2021

What Happens if a Trustee Refuses to Give a Beneficiary Money?

When someone sets up a trust, they appoint at least one trustee. The trustee is responsible for managing the assets of the trust for the benefit of the trust’s beneficiaries.
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Thursday, July 15, 2021

What to Know About Probate Homes in California

The purpose of estate administration is to ensure that one’s real and personal property is properly distributed after they have passed away. This process to administer the estate is known as probate and is overseen by a probate court.
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Tuesday, June 22, 2021

What Is a California Spousal Property Petition?

When someone dies, their will must pass the legal process called probate. While probate can be helpful in ensuring that the will is verified and properly carried out, it doesn’t always account for what is supposed to happen to certain property, namely, surviving spouses.
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Thursday, May 27, 2021

New Parents Should Consider a Trust

Learning that you are expecting a child whether through childbirth, adoption, or surrogacy, can be extremely exciting but overwhelming. There are so many decisions to make before your child’s arrival. But while you may be thinking about names, birth plans, and nursery color schemes, you may also want to give significant thought to updating (or creating) your Read more . . .

Monday, April 26, 2021

6 Tips for Naming Your Trust

It may not seem like a very big decision, but what you choose to name your trust can be extremely important. Trusts differ from other legal entities in that there are no laws that govern what you must name them. In other words, the creator of a trust has free reign to name it whatever he or she chooses. While this may seem like a much easier situation, what you name your trust can have a big impact on the laws that govern the entity itself.

There is no approval process for the naming of a trust, but banks, real estate title insurance companies, and other similar entities must know the name of the trust in order to adequately file and find related legal documents.
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