Do you want to avoid California residency?

Tali Z. KlapachTali Z. Klapach

California has one of the highest income tax rates in the country. Not surprisingly, many individuals, entrepreneurs, and businesses contemplate changing residence from California to other states so that they can hold onto more of their money. Unfortunately, California is very aggressive in attempting to tax its ex-residents. To avoid California’s tax, you should be …

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Do You Have A Rich Uncle? The Definition of “Legal Heirs” in California

Tali Z. KlapachTali Z. Klapach

A critical part of every estate plan is the ordered disposition of assets on death. Specifically, who are you going to leave your assets to when you are gone? Most people leave their assets to their spouse and children, or to other relatives, friends, and charities. But, if no designated beneficiary is alive at the …

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How Do You Revoke A Will?

Tali Z. KlapachTali Z. Klapach

There are a number of ways to revoke a will (see California Probate section 6420 et seq.). The simplest way is to draft a new will that expressly revokes the prior will. Other ways to revoke your will are to burn, tear, cancel, obliterate, or destroy the will with the intent of revoking it. Divorce …

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What happens if you cannot find a deceased person’s original will?

Tali Z. KlapachTali Z. Klapach

I am sometimes asked what to do if one cannot find the original will of a deceased person. Below are some helpful hints. If a will is missing because the deceased person intentionally revoked it, an earlier will or the laws on intestate succession would determine who gets the deceased person’s estate. If a will …

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What do you do when someone dies?

Tali Z. KlapachTali Z. Klapach

When a close friend or relative dies, you might be the designated executor or successor trustee of their living trust, or the agent under their Advance Health Care Directive. If this is the case, I strongly recommend that you consult with an attorney to ensure that you are complying with federal, state, and local laws. …

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Why you need a power of attorney even if you already have a trust

Tali Z. KlapachTali Z. Klapach

Why do you need a durable power of attorney if you already have a trust? Two reasons. First, your agent under your power of attorney is responsible for managing your non-trust assets. Second, your agent can act in areas where your trustee cannot. For example, if you are incapacitated, your agent (but not your successor …

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