Attorney Andrew Bethel discusses estate planning in your 20s and 30s: planning when you don't have assets; planning when you have children and should have a last will and nominate guardians; planning when you have assets and should use a living trust; planning around student loan debt; considering retirement accounts; and crypto and other online assets.
Read MoreThe IRS has released the 2023 contribution adjustments for the following retirement plans: 401(k)s, 403(b)s, 457 plans, Thrift Savings Plans, IRAs, Roth IRA, and the Saver's Credit. The contribution limits are going up across the board but be aware of the income phaseouts for traditional IRAs and Roth IRAs. Retirement accounts are extremely important for building your estate and maximizing your estate's distribution.
Read MoreTrustees have many legal duties they must follow when administering a trust - from a duty to account, a duty of loyalty to the beneficiaries, duty to communicate, and more. Often, the duty to provide notice is the first to arise, but the first to be missed or ignored. Trustees have to provide notice at certain times, have a time limit to do so, and the notice must include specific language according to the CA probate code.
Read MoreThe most persistent estate planning myth that has stood the test of time is the myth of the $1 inheritance to an estranged child. While you are not required to leave your children anything, you should have a writing clearly stating your intent. Leaving $1 will likely cause more harm than good!
Read MoreAttorney Andrew Bethel addresses trust account related questions from our YouTube comment sections. Can non-US residents inherit property through a trust or transfer on death deed? When will an inheritance tax apply? What if someone had property in California but they died outside the state?
Read MoreAttorney Andrew Bethel addresses trust account related questions from our YouTube comment sections. How to title trust bank accounts. Should business bank accounts be in trust? What kind of trust is best to hold business accounts? Are trust accounts FDIC insured?
Read MoreEstate planning attorney Andrew Bethel discusses how to maximize your estate by minimizing three potential tax hits that dramatically lower how much you pass onto the next generation: inheritance taxes, estate taxes (death taxes), capital gains taxes, and gift taxes.
Read MoreAttorney Dale Bethel gives a presentation on the ins and outs of Medi-Cal qualification in California and what can be done in order to save one's estate by avoiding a Medi-Cal spend down and a recovery claim from the state of California.
Read MoreOur, next video will be a detailed discussion on everything you need to know about Medi-Cal and long-term care in California. However, we wanted to highlight a portion of that discussion here about some of the problems that can affect eligibility and qualification for Medi-Cal in California.
Read MoreThe Estate and Gift Tax exemption levels have again increased for 2023 under the 2017 Tax Cuts and Jobs Act (the Trump Tax Cuts). However, these increases may not last forever and will have an impact on how one does their estate planning and qualifies for long-term care.
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