Imagine how you would feel if you walked into your bank, asked for a summary of your account activity and the bank told you that it had no idea how much money was in your account or how it had been spent.  Of course, this doesn’t normally happen because the bank has a fiduciary duty […]

Effective Strategies for Tax Minimization: Gifting, Charitable Donations, and More An estate plan offers numerous benefits, including ensuring assets are distributed according to one’s wishes, minimizing family disputes, and providing for loved ones’ future financial security. Additionally, an estate plan can be a powerful tool for minimizing tax burdens by utilizing strategies such as trusts,

Importance of Updating Your Estate Plan: Life Events That Trigger A Review Major life events such as marriage, having children, and divorce dramatically alter one’s familial and financial landscape, profoundly influencing estate plans. Marriage prompts considerations of spousal inheritance rights and joint property arrangements. The birth of children necessitates guardianship appointments and provisions for their

What Should California Residents Know About Incorporating Charitable Giving into Their Estate Plans? Estate planning is a crucial aspect of financial management, especially for California residents. It involves making arrangements for the distribution of one’s assets and wealth after death. Proper estate planning ensures that your assets are transferred according to your wishes, minimizing potential

How Do Recent Changes in California’s Trust Laws Impact Your Existing Estate Plan? A trust is a legal arrangement where a trustee holds assets on behalf of beneficiaries according to specific terms. It allows for asset management, protection, and distribution over time, often bypassing probate. Trusts play a foundational role in a comprehensive estate plan

When a loved one starts feeling the effects of aging or becomes partially incapacitated due to an accident or medical condition that makes it harder for them to care for themselves or their finances, a conservatorship may be an option to help that person continue to live a healthy life and keep their affairs in

Special Needs Trusts are important estate planning tools for families and individuals with disabilities. However, these types of trusts have certain reporting requirements that must be met in order for the beneficiary to maintain their eligibility for public benefits. Learn more about the annual reporting requirements for SNTs and when to seek legal help for

Special needs trusts (SNTs) are specifically designed to provide financial security to individuals with special needs without affecting their eligibility for government benefits. SNTs are powerful tools that can help ensure that individuals with disabilities receive the necessary care and support they need. The attorneys at the Sheela Stark Law Group, APC, provide an overview