Grantor Retained Annuity Trust (GRAT): Transferring Appreciating Assets With Tax Efficiency

Gabriel Katzner - July 5, 2024 - Estate Planning

Grantor retained annuity trusts (GRATs) are irrevocable trusts that grantors can use to place assets that are expected to increase significantly in value and distribute them to beneficiaries while limiting their estate and gift taxes. What is a Grantor Retained Annuity Trust (GRAT)? A GRAT is one of many options available in estate planning to […]

Filial Responsibility Law in California

Gabriel Katzner - June 28, 2024 - Asset Protection

If you live in one of the 26 U.S. states that have filial responsibility laws on the books, you may be responsible for providing basic needs and medical care if your parents cannot afford it. Filial responsibility describes the obligation or duty an adult child has to their parents. Some cultures, especially those where multiple […]

Understanding Charitable Remainder Unitrusts

Gabriel Katzner - June 21, 2024 - Estate Planning

What is a Charitable Remainder Unitrust? A charitable unitrust is an estate planning tool that allows the grantor to split the assets in the trust between named beneficiaries and a charitable cause while minimizing capital gains taxes. Also called a charitable remainder unitrust (CRUT), a charitable unitrust can provide for a non-charitable beneficiary throughout their […]

What Is a No-Contest Clause in a Will?

Gabriel Katzner - June 12, 2024 - Probate

If you are concerned that any of your beneficiaries may be disgruntled enough with their inheritance that they bring a legal challenge against your will, you can mitigate that possibility by adding a no-contest clause in your will. If you have a no-contest clause in your last will and testament, anyone who disputes the validity […]

What Is a Quitclaim Deed?

Gabriel Katzner - June 6, 2024 - Real Estate

A quitclaim deed is a legal document used to transfer interest in a property from the grantor to the grantee. It does not guarantee that the grantor has a legal interest or right to the property. A quitclaim deed is a way to transfer property ownership quickly and easily, but it has limitations. Ian and […]

Can A Jointly Owned Property Be Sold By One Owner?

Gabriel Katzner - June 5, 2024 - Real Estate

Michael and Jill own a home appraised at $3 million. The home has been in their family for generations. The couple plans to leave the home to their four children when they die. All four children will be tenants in common, and they each will inherit 25% of the interest in the family home. They […]

Guide to Inheriting a House with Siblings

Gabriel Katzner - May 31, 2024 - Estate Planning

Inheritance can be complicated, especially if multiple people inherit the same asset and a legal will does not contain explicit instructions for how the property should be managed or divided. Mike has three daughters; one is married and has two children. His other two daughters still live in the family home. Imagine the disagreements that […]

What is a Trust Fund and How Does it Work?

Gabriel Katzner - May 22, 2024 - Trust Administration

A trust fund is an estate planning tool used to hold assets or property for a beneficiary or beneficiaries. A grantor establishes a trust, and a trustee is in charge of its administration. Trust documents describe the assets in the trust, including bank accounts, property, stocks, businesses, heirlooms, and money, and the conditions under which […]

The Difference between Guardianship and Power of Attorney

Gabriel Katzner - May 16, 2024 - Guardianship

Whether you have an adult child with a disability or a parent who is at risk of becoming incapacitated, it may be time to consider who will manage their affairs and make decisions for them if they cannot make decisions independently. Depending on how much help your loved one needs, a guardianship, conservatorship, or a […]

A Family LLC: Protect Your Family’s Financial Success

Gabriel Katzner - May 7, 2024 - Asset Protection

A family limited liability company, or family LLC, is a type of business entity that provides asset protection and tax benefits for its owners. It can also be used to manage and preserve family properties to allow for intergenerational ownership and management. A family LLC is subject to the same Internal Revenue Service (IRS) rules […]

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