The IRS has announced the Applicable Federal Rate (AFR) for April of 2012. The AFR, under Section 7520, for the month of April will be 1.4%. These historically low numbers, combined with depressed real estate values, create great estate planning opportunities.

President Releases 2011 Tax Returns To the Public: The President and Michelle Obama released their 2011 tax returns to the public. Of course tax planning and estate planning go hand in hand. President and Mrs. Obama received income from his salary and book royalties. They deducted $49,000 from book royalties for a simplified employee pension […]

California probate form DE-157 Notice of Administration to Creditors is a vitally important form for protecting the Executor from any problems when probate is over. By that notice the Personal Representative puts ALL KNOWN or reasonable ascertainable creditors on notice of the probate. It gives the creditors a minimum of 60 days to file a […]

I have a case going right now where the Executor has died before distributing the entire estate. In fact, he was the sole heir but for various reasons he never got around to finishing the probate… for 5 years! The fact that he died does not change the fact that he, or his estate, is […]

There are basically two main types of Special Needs trusts: 3rd party or self settled. There are actually many other types but these are two main categories that they all fall into. Third party trusts are set up by one person for the benefit of another.  Self-settled, as the name implies, is set up by […]

California Probate Form DE-147S Confidential Supplement to Duties and Liabilities of Personal Representative is required in some but not all counties. It asks for the proposed Personal Representative’s name, date of birth, driver’s license number and state of issuance for driver’s license. Your probate lawyer will help you complete it if required. It is a […]

California Probate Form DE-150 Letters is the single most important document in most California probate cases. It is THE document that allows the Personal Representative to stand in the decedent’s shoes and take all actions necessary to conduct the probate. This is the document needed to access bank accounts, sell stock, sell real estate and […]