What Does Life Estate Mean?

Article, Civil Litigation, Estate Planning, wealth preservation

I was asked by a “friend” about her step mother staying in her dad’s home after dad died. He had written a trust and in it he granted her a “life estate.” According to the terms of the trust, she was “entitled to remain and reside within our residence at 1122Boogie...

Purpose and Scope of the Company

Article

PURPOSE AND SCOPE OF THE COMPANY Most people initially think that an entity is only formed and organized for asset protection. Most people don’t know that if the appropriate entity is chosen and set up properly it can help meet the following goals: Income tax:...

Everything you Need to Know About the CA Statewide Rent Control Bill

Article, Estate Planning

Everything You Need to Know About the CA Statewide Rent Control Bill On October 8th, 2019, CA Governor Gavin Newsom signed bill AB 1482, also known as the Tenant Protection Act of 2019, effective January 1, 2020, in efforts to ease the housing crisis. The sunset...

Split Roll Property Tax Initiative

Article

Split Role Property Tax Initiative makes it to 2020 Ballot. Commercial and Industrial Properties May Be Subject to Reassessment In the 1970s Californian voters passed Proposition 13, which set the property tax rate cap at 1% of the assessed value of real property at...

Safety Nets Updated

Article

Introduction This article updates the earlier article on this topic. As that earlier article mentioned, one relatively common estate planning arrangement is for the grantor of a trust, which is a grantor trust with respect to him or her for income tax purposes, to...