Blog for Estate Planning, Trust and Probate
Documents of a Complete Estate Plan
Estate Planning involves the efficient and cost effective transfer of your assets to your children or heirs. Price Law Firm, APC in Redlands will create
When Should You Create a Living Trust?
A living trust is used to pass property from you to your heirs when you die. It avoids the costs, time, and publicity of an
Small Estate Affidavit (Probate Code §13100, et seq.)
When a person dies with less than $150,000 of assets, there is a procedure to transfer the assets of his or her estate to his
Parent – Child Exclusion from Property Tax Reassessment
Transfers of real property from parents to children (or children to parents) may be excluded from reassessment if a claim is filed and certain requirements
Change in Ownership Statement – Death of Real Property Owner
When a person dies owning real estate, there is a form that must be filed with the county recorder or assessor in each county where
Tax Basis of Property Received from a Decedent
Cost Basis Basis is the way the tax code keeps track of your investment in property. When you purchase property, your basis is the cost
The Decedent’s Final Individual Income Tax Returns
IRS Form 1040 US Individual Income Tax Return A decedent will owe a final tax return for the short tax year beginning on January 1st
Opening a Safe Deposit Box
Many people keep important documents in a safe deposit box. When someone passes away owning a safe deposit box at a bank, it is important
Probate Treatment of Adoption
With the ever-evolving concept of the “modern family”, many families choose adoption as a method of expanding their family and continuing their legacy. The California
Handwritten Wills
Anyone can create a valid handwritten will, known as a holographic will, if the signature and the material provisions are in the handwriting of the
Witnessed Wills
The most common type of will is a witnessed will. Usually they are typewritten, but they can also be handwritten. They also can be in
Where to Find the Will of a Deceased Person
Clients often ask us how to find the will of a deceased person. The situation happens that a loved one dies, and the family does
COVID-19 Procedures
Just a Friendly Note from all of us at Price Law Firm; As we continue to monitor the rapidly evolving situation around the coronavirus (COVID-19),
Equitable Adoption of a Step-Child or Foster Child
Under Probate Code §6450, the relationship of parent and child only exists for the purposes of intestate succession (if there was no will) if that
California Estate Tax Has Been Abolished
An estate tax taxes an inheritance when someone dies. It is the estate that pays the estate tax, not the heir or recipient. An estate
Probate Estate Income Tax Return (Form 1041)
Federal Income Tax Return for the Estate Besides the final income tax return of the decedent up to the date of death, the personal representative
Death of a Co-Tenant Exclusion from Reassessment of Property Tax
One of the biggest concerns of a probate case is the property taxes for the house. Usually, the property tax base is reassessed when a
How are funeral expenses paid in a probate case?
Clients often ask how funeral expenses are handled in a probate case. It’s a little odd to treat an expense that is incurred after death
Preparing for Coronavirus: The #1 Legal Document You Need to Have
As the coronavirus continues to disrupt daily life and leave Americans uncertain of the future, you don’t have to feel helpless during this pandemic. In