Choose a Trustee Corona Estate Planning Attorney Joseph Hudack says that when you establish a trust, you name someone to be the trustee. A trustee does what you do right now with your financial affairs – collect income, pay bills and taxes, save and invest for the future, buy and sell assets, provide for your…
Do It Now Corona Estate Planning Attorney Joseph Hudack knows that it’s hard. Thinking about someone else raising your children can stop you in your tracks. It feels crushing and too horrific to consider. But you must. If you don’t, a stranger will determine who raises your children if something happens to you – your…
Pick A Trustee, Executor, and Agent Under a Power of Attorney Corona Estate Planning Attorney Joseph Hudack says that while the term “fiduciary” has a long legal history, according to estate planning attorney Joseph Hudack, it often refers to someone who has a legal obligation to act in another person’s best interests. Fiduciaries include people…
Make a Successful Gift to Your Children Corona Estate Planning Attorney Joseph Hudack. What constitutes a “large” gift can be relative. That being said, if you are considering giving cash or property to someone, a little bit of planning can help avoid negative consequences. This is particularly true if the gifted amounts are over $15,000.00,…
Should a Guardian and Trustee Be the Same Person? If you have overheard any discussion about an estate planning attorney, you have likely heard the words “guardian” or “trustee” tossed around in the conversation. Should Your Child’s Guardian and Trustee Be the Same Person? When it comes to estate planning, who will be ultimately in…
Selecting Your Successor Trustee Your successor trustee plays an essential role in the effective execution of your estate plan. If you have a revocable living trust, you probably named yourself as a trustee, so you can continue to manage your financial affairs. Still, eventually, someone will need to step in for you when you can…
Corona Estate Planning Attorney Joseph Hudack Says That One Call You Must Make After You Buy a Home That You’ve Probably Forgotten. During the home buying process, you worked with a lot of individuals: your realtor, the seller’s realtor, the title company, the loan officer, and the home inspector. Now that you have finalized the…
Why Estate Planning Isn’t Just for the Top One Percent Corona Estate Planning Attorney Joseph Hudack says that there is a common misconception that estate plans are only for the ultra-rich – the top 1%, 10%, 20%, or some other artificial threshold of “enough” wealth, according to estate planning attorney Joseph Hudack, are frequently mistaken…
Corona Estate Planning Attorney Joseph Hudack says that the new tax legislation raises the federal estate tax exemption to $11.2 million for individuals and $22.4 million for couples. The increase means that an exceedingly small number of estates (only about 1,800, nationally) will have to worry about federal estate taxes in 2018, according to estimates…
Leave Assets to Adult Children Corona Estate Planning Attorney Joseph Hudack knows that when considering how to leave assets to adult children, the first step is to decide how much each one should receive. Most parents want to treat their children fairly, but this doesn’t necessarily mean they should receive equal shares of their estate.…