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How to prepare for a Will or Trust Contest

Posted by Maria N. Jonsson | Mar 19, 2019 | 0 Comments

Legally everyone is entitled to leave their estate to anyone they want. This means that they can exclude (or “omit”) anyone they want from receiving any distributions under a Will or a Trust. Often there is already an expectation that such individuals will feel wronged and will contest the will o...

How will you protect your assets After tax season

Posted by Maria N. Jonsson | Mar 18, 2019 | 0 Comments

Admittedly, this time of year (i.e., March-April), no one wants to think about anything other than Tax Season. The 1099s are in, the expenses are accounted for, and the checks to IRS/FTB hare sent out. So now what? What lessons can we learn and how can we be better protected for next year? One su...

Estate Planning IS Recession Planning

Posted by Maria N. Jonsson | Mar 11, 2019 | 0 Comments

The “Recession” buzz is all around us. One of the worst things that can happen during a recession is to lose a loved one and to actually inherit from their estate through probate. The lessons of 2008-2010 remind us that, during a recession time, not only property values decline, but when you add ...

2019 Estate Tax Exclusion and Gift Tax rules

Posted by Maria N. Jonsson | Nov 29, 2018 | 0 Comments

The IRS issued Revenue Procedure 2018-57 announcing the official estate and gift tax exclusion amounts for 2019. The 2019 applicable federal estate tax exclusion is increased to $11.4 million. The top federal estate, gift and GST tax rate remains unchanged at 40%. This exclusion is...

Having Only a Will May Mean Going to Probate Court

Posted by Maria N. Jonsson | Sep 20, 2018 | 0 Comments

It is a common misconception that if one has a will, there is no court process after they die. This is only true if he/she died not owning any real estate, and having personal property less than $150,000 in value, or with named beneficiaries. When this is not the case, a willhas to undergo a long...

Finding the Right Probate Attorney

Posted by Maria N. Jonsson | Sep 20, 2018 | 0 Comments

If one dies owning assets in his/her name alone, and the estate requires probate administration, the family would be wise to find a Los Angeles probate attorney with lots of experience in Probate court and one that does not shy from keeping in touch with the family. It is not common knowledge tha...

"I only need a simple trust"

Posted by Maria N. Jonsson | Sep 18, 2018 | 0 Comments

“I only need a simple Trust” is a request I hear often. However, this “self-diagnosis” may not always be the right one. A “simple” probate avoidance trust may or may not be the best fit for each family dynamic. There are two main factors which dictate the complexity of the trust terms: (1) the ty...

Will and Trust Provisions for your Pets

Posted by Maria N. Jonsson | Jul 02, 2018 | 0 Comments

Pet Hospice is becoming a preferred choice of saying “goodbye” to a beloved companion animal. It is more humane for the animal because it focuses on the relief of the end-of-life suffering, and the pet's comfort. It is infinitely more humane for the pet-owner, for whom this is such a painful and ...

What's More Expensive Than an Estate Plan? Regret.

Posted by Maria N. Jonsson | Aug 29, 2017 | 0 Comments

Estate Planning is one of these tasks that often fall under “discretionary spending,” and because it has the stigma of having to contemplate your own death, it often drops to the bottom of the to-do list. Many families learn the hard way that failure to plan timely, or failure to keep the plan cu...

Testamentary Capacity: POLICE LINE - DO NOT CROSS

Posted by Maria N. Jonsson | Aug 22, 2017 | 0 Comments

The old adage, “He who waits for something good never waits too long,” does not apply in Estate Planning. The topic of testamentary capacity is a very sensitive one, and a fine line to cross. Many times an elder adult can be in good physical shape and carry on a very reasonable conversation, unti...

Stay in Control of your Digital Afterlife

Posted by Maria N. Jonsson | Aug 15, 2017 | 0 Comments

Managing your digital afterlife has become a very relevant trend; even the CA legislator is taking great interest in it. CA Assembly Bill AB-691 entitled, “Revised Uniform Fiduciary Access to Digital Assets Act” is expected to soon be enacted into law, and it provides guidance on settling one's d...

Who Do You Trust?

Posted by Maria N. Jonsson | Aug 08, 2017 | 0 Comments

“My parents set up a Trust to avoid Probate, but now that they are gone, the Trustee won't give us a copy of the Trust, and although we have asked for information about the assets, the Trustee doesn't tell us anything. It's been almost two years; our parents' home is still sitting vacant, and we ...

No Robo-Planning Here

Posted by Maria N. Jonsson | Aug 01, 2017 | 0 Comments

It is already a settled practice in the Financial Industry that human advisors let automate small accounts and routine back-office tasks so that client engagement can be the main focus. But when it comes to planning your estate, Robo-Planning is a bad idea even for the simplest of estates. There ...

New Year - New Medi-Cal Recovery Rules

Posted by Maria N. Jonsson | Jan 19, 2017 | 0 Comments

On January 1, 2017, new legislation took effect which greatly restricts Medi-Cal recovery. For MediCal recipients who die on or after January 1, 2017, recovery is now largely limited to only those assets subject to California Probate administration. Under the old law, the only way to avoid recove...

Transfer on Death Deed

Posted by Maria N. Jonsson | Dec 22, 2016 | 0 Comments

The Revocable Transfer on Death Deed: are Trusts a thing of the Past? The California legislator enacts thousands of laws each year. On January 1, 2016, Assembly Bill 139 became the law, known as the Transfer on Death Deed, which allows a property owner to name a Transfer on Death Beneficiary for ...

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The Law Offices of Maria N. Jonsson, PC is committed to answering your questions about Estate Planning, Probate and Trust Administration issues in Marina Del Rey & Venice, CA. We'll gladly discuss your case with you at your convenience. Contact us today to schedule an appointment.

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