Wills, Trusts & Probate Law Blog

Joint Trust vs Separate Trust for Married Couples - Werner Law

Joint Trust vs Separate Trust for Married Couples

Trusts are excellent vehicles for managing and moving wealth between individuals, both in life and death. But setting up a trust is not quite as simple as drafting and notarizing a will. Continue reading for an in-depth analysis of a joint trust vs. separate trust. There are several moving parts, agreements, and conditions to consider …

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Preliminary Change of Ownership Report and Estate Planning - Werner

Filing a Preliminary Change of Ownership Report in Estate Planning

Any property transfer in California may require filing a Preliminary Change of Ownership Report. For most people, this report is needed whenever real estate is transferred from one person to the next, even if only partially. An interest in real estate must be reported to the state for tax appraisal purposes. All 58 counties in …

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What Is the Average Cost of Probate in California - Werner Law

What Is the Average Cost of Probate in California?

Probate is the process by which your local legal authority processes and administrates the management of a person’s belonging after death. Ownership must transfer to the living, whether personal effects or investments, properties, assets, and other items. Read on for an in-depth analysis of the cost of probate in California. However, while we can use …

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California’s Escheatment Process for Unclaimed Property - Werner

California’s Escheatment Process for Unclaimed Property

Here is a shocking number: there is over $49 billion in the unclaimed property sitting around in the United States today. This number includes everything from unclaimed refunds and last paychecks to entire homes, investment properties, and abandoned parcels. What happens to all of that property? And how did it get there in the first …

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When Should You Consider Joint Tenancy? - Werner Law Firm

When Should You Consider Joint Tenancy?

Homeownership represents the unattainable ideal for many millennials and younger Americans today. Between record-high housing costs, inflation, and stagnating wages, the dream of owning a place you can call home might seem exceedingly distant. However, if that home could somehow be split between multiple parties, a distant dream can quickly become a realistic prospect. One …

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Is Forced Heirship Real and How Common Is It - Werner Law Firm

Is Forced Heirship Real and How Common Is It?

Forced heirship is a concept or legal stipulation that involves leaving a mandated portion of your estate to an heir. In other words, forced heirship implies that it is illegal to disown or disinherit certain heirs without precedence. The concept of forced heirship stems from civil law, a largely European legal system derived from Roman …

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How to Avoid Estate Tax on Your Life Insurance Payout - Werner

How to Avoid Estate Tax on Your Life Insurance Payout

Let’s assume you have written and finalized your will and double-checked your accounts. You’ve specified your designations and talked to your family about certain medical decisions and financial responsibilities. Let’s say you have your affairs in order but want to make the funerary costs and final arrangements a little less hefty in your loved ones’ …

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