Flanigan Law Group

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The Flanigan Law Group is an estate planning, probate and trust administration, and estate litigation law firm. Our primary goal is to always provide quality personal attention from predeath tax planning through post-death administration, while at the same time preserving as much of your financial and emotional resources as possible. When business and family disputes do arise following death, we are very successful in resolving legal estate issues quickly and efficiently while obtaining a high-quality result.

Estate planning in California - key facts

Estate planning in California can be complicated, but it's important to understand the key facts to ensure your wishes are carried out. Here are some of the main factors you should consider when estate planning in California:

1. Understanding State Law: In California, there are many different laws that govern how estates and trusts are structured and handled. It is important to understand and stay up-to-date on these laws in order to ensure your estate plan follows the requirements of the state.
2. Community Property: In California, all assets acquired during a marriage (except those given as gifts or inheritance) are considered “community property,” meaning they are owned by both spouses. This means that the surviving spouse can keep the assets, unless otherwise specified in a will.
3. Tax Implications: Estate taxes may apply to large estates in California, so it is important to understand how they work and how to minimize their impact on your estate plan. Additionally, you should be aware of annual gift tax limits and other tax regulations.
4. Beneficiary Designations: It is important to update beneficiary designations as needed, since they override anything written in a will or trust. Make sure that your retirement accounts and life insurance policies have up-to-date beneficiaries.
5. Professional Assistance: Estate planning can be complicated, so it’s wise to consult an attorney if you need help with the process. An experienced estate planning lawyer can advise you on the best course of action and ensure that everything is set up properly according to California law.

With these key facts in mind, you should be well prepared for estate planning in California. Taking the time to understand how state laws work as well as tax implications will ensure that your estate and wishes are properly taken care of.

Probate law in California - explanation

Probate law in California governs the distribution of assets to heirs after a person has died. Probate is the process of proving and validating a will, determining who is entitled to receive certain assets, resolving any debts or taxes owed by the deceased, and distributing any remaining assets according to the wishes expressed in the will. In order to do this, most estates go through a probate court process that can be lengthy and complicated. The laws governing probate vary from state to state, so it’s important to understand how they work in California before you begin estate planning.

In California, for instance, wills must generally go through probate if there are assets with a value greater than $150,000. If an estate does not have enough assets to go through probate, a simplified procedure known as “small estate affidavit” may be used instead. In either case, all creditors must be notified and any taxes owed must be paid before the estate can be distributed. Additionally, if there is no will or it is found invalid, California law dictates how the deceased’s possessions should be divided among their heirs.

It is always wise to consult an experienced "probate" attorney

when dealing with matters of probate law in California. An experienced lawyer can help you understand the process and make sure that your wishes are carried out according to state law. Additionally, they can provide guidance on distributing assets to heirs and resolving issues such as disputes between family members or creditors who may be entitled to a portion of the estate. With an experienced attorney on your side, you can ensure that your wishes are respected and that your heirs receive their rightful inheritance.

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