Eugene Alkana, Esq. - Law Group of Pasadena

The federal estate tax ranges from rates of 18% to 40% and generally only applies to assets over $13.61 million in 2024. But several states and the District of Columbia have their own estate tax, with lower asset thresholds than the federal government. A few states have an inheritance tax, which is paid by inheritors upon receiving the inherited assets.

Guide to Estate Tax: Definition, What to Know - NerdWallet The federal estate tax is a tax that's levied on your assets after you die. Most estates don't require filing an estate tax return unless the assets are over $12.92 million in 2023 or $13.61 million in 2024.

A living trust involves transferring your assets into the trust, often appointing yourself as trustee. Making a living trust part of your estate plan has advantages and disadvantages. If you're considering using a trust, it's highly advisable to work with an experienced estate attorney who can guide you through the process.

3 Reasons to Seriously Consider Using a Living Trust to Pass Inheritance to Your Family | The Motley Fool How a living trust can help secure your legacy seamlessly and quietly.

Staying up to date on the ever-changing rules and regulations that apply to businesses can be challenging. An experienced attorney can help clarify any legal obligations of your business.

Is Your Company Breaking the Law? Surprising SMB Rules - businessnewsdaily.com Learn some surprising laws and regulations that apply to small businesses, with tips to keep your company compliant.

Estate planning is a powerful phrase with a simple aim: To create a plan to protect yourself and your loved ones in the event of sickness, accidents or death.

Estate Planning: Create Your Legacy Estate planning is not only for the wealthy, it's for everyone. Here's how you can get started.

Generally, a disclosure document is meant to provide information about a property's condition that could negatively impact its value. Sellers who willfully conceal that information risk being sued and potentially convicted of a crime.

Buying a Home: 8 Disclosures Sellers Must Make If you're selling a home and don't tell potential buyers about potential issues and hazards, you could end up in court. Here's how to stay out of trouble.

For business owners, estate planning takes on added significance. And as in other aspects of business, communication is one of the most powerful tools in planning your estate.

What Is the Best Estate Planning Tool for Entrepreneurs? Just as in other aspects of business, conversation wins out in planning for the future.

Having all the right documents and information handy will help make selling your business so much easier.

Selling Your Family Business? 14 Things Small-Business Buyers Will Want to See Having all the relevant information ready to go before you have a prospective buyer will help make the process so much easier.

Many business owners jump into the competitive marketplace without doing enough research when it comes to covering their legal bases. Don’t start a business without first thoroughly preparing yourself.

8 Legal Requirements When You Start A Business | Entrepreneur Here's what entrepreneurs need to do to avoid costly mistakes down the line.

An estate plan specifies how your assets should be handled at your death or when you’re incapacitated. When done properly, it can save your family a lot of stress.

10 Things You Should Know About Estate Planning Estate planning is all about taking charge of your legacy.

A warranty deed is a legal document guaranteeing that a property's seller has the legal right to sell the property and that there are no outstanding debts or legal claims against it.

What Is A Warranty Deed? | Bankrate This document guarantees that the seller has the legal right to sell the property, with no outstanding debts or legal claims against it.

S corps and C corps have much in common, but the differences can affect all aspects of how you do business. When choosing a business structure, consider your shareholders' needs and your short and long-term business goals.

C Corp vs S Corp Learn more about the differences between a C Corp and S Corp.

Though preparing an end-of-life plan may sound like an uncomfortable experience, it can alleviate confusion and stress for your loved ones.

End-of-Life Planning: A Complete Guide Read on to learn about how to start end-of-life planning.

Depending on your financial goals and planning needs, a trust may be one tool in your estate planning toolbox. Consider consulting with an attorney to determine the most beneficial estate plan for your objectives.

2 Key Benefits Of Living Trusts Avoiding probate and retaining control over the distribution of your assets are two key benefits of using a living trust as part of your estate plan.

If you’re thinking of starting a business with a partner – or already have a partner – it’s important to think through and formally structure your relationship.

Should you start a small business with a partner or fly solo? Consider these factors. If you’re considering starting a business with a partner – or already have one, you need to think through and formally structure your relationship.

Having an estate plan will spare your loved ones the pain and expense of determining how to allocate your money and property while they’re grieving your loss. But some mistakes can upend your best efforts to protect your family's finances after death.

Common Estate Planning Mistakes Have you managed to avoid the eight most common estate planning mistakes? Your family will thank you.

When someone dies, their outstanding debts are typically paid through their estate.

What happens to credit card debt when you die? When you die, your credit card debt is usually settled from your estate. If there are not enough assets in the estate the credit card company will write off the debt.

Before you launch your business, take the proper legal and regulatory steps. A business attorney can provide guidance on selecting a legal structure, meeting compliance requirements, and more.

How To Start A Business: A Step by Step Guide For 2024 If you’re starting a new small business, find out where to begin and how to achieve success.

A trust is a legal contract that allows someone, known as the trustee, to hold assets on behalf of another person, known as the beneficiary. Trusts can be structured in a variety of ways to dictate how the assets are handled both during and after your lifetime.

Trusts Explained All you need to know about trusts, legal contracts that play a key role in most estate plans.

To make sure your heirs have it easier, consider using some tools that help them legally avoid probate, but still receive their inheritance.

3 Ways to Help Your Heirs Avoid Probate A little planning ahead and some time with an estate lawyer or a computer program can save a lot of anguish and money down the road

There are some cases where a party is legally excused from performing its contractual obligations. This can happen when a contract becomes impossible to perform due to unforeseen circumstances. Other times, contracts can be rescinded in cases of fraud or misrepresentation. If an issue has arisen that might affect your ability to fulfill your duties under an agreement, it's a good idea to speak with an attorney who can explain your options.

A real estate attorney's role is to ensure the legal transfer of property from seller to buyer. These attorneys handle tasks like preparing or reviewing documents, ensuring that the title is clear and facilitating the transfer of funds.

What Does a Real Estate Attorney Do? - NerdWallet A real estate lawyer can help prepare and review documents for your home sale, including the contract and title.

It's important for people to waste no time in deciding how they wish to distribute their assets — particularly their homes.

Do Your Heirs a Favor Decide now what you want to do with the family home after you are gone — and then write it down and update as necessary

An estate plan is more than a will, and professional guidance may be necessary to be sure that all the bases are covered and a solid plan is crafted and implemented.

What Is Estate Planning? A Guide And FAQ For Investors Estate planning is an often overlooked topic during the financial planning process. Here's why that's a mistake.

A Buy-Sell Agreement agreement establishes protection for all parties and the company should something happen or if an exit occurs for one of the business partners. Without such an agreement, many variables can emerge, such as a family member or other party that takes ownership or a controlling stake, and perhaps without any initiative for success.

What Is a Buy-Sell Agreement and Why Is It Vital for a Successful Partnership? | Entrepreneur If you are starting a business with a partner, you need to have a buy-sell agreement.

For many people, leaving an inheritance is an opportunity to provide loved ones with a final parting gift. But not all inherited assets are created equal.

6 of the Best Assets to Pass On to Your Heirs If your dearly departed leaves you one of these things, you've hit the jackpot.

Before you terminate an employee, make sure you comply with any relevant local, state, and federal employment laws. When in doubt, speak with an attorney.

How to Avoid Wrongful Termination Lawsuits There are few things worse in business than getting stuck in litigation. Here's how not to get sued by former employees.

Estate planning is one of the most important things you will do during your lifetime. Making a plan in case you become incapacitated and preparing for your eventual death can help you to protect your assets and preserve your legacy.

Estate Planning Checklist: Get Your Affairs In Order Estate planning is one of the most important things you will do during your lifetime. Making a plan in case you become incapacitated and preparing for your eventual death can help you to protect your assets and preserve your legacy. There are many steps that go into this process. This estate plan

If you’re buying a home, or vacant land on which you plan to build one, then deed restrictions should be on your radar. These regulations restrict the way land can be used, as well as what you can build on it and what activities you can partake in while on the premises.

Deed Restrictions And Deed Restricted Property | Bankrate When you’re buying a home or land to build one on, deed restrictions can severely limit how you can use the property. Here's what to know.

Most people think estate planning is a process for older, generally affluent individuals nearing retirement or dealing with health concerns. But estate planning is increasingly top of mind for younger generations.

Six Estate Planning Tips for Younger Generations Millennials and Gen Zers are taking their estate planning seriously. These tips can help make the process seem less daunting.

Estate planning is planning for what you want to happen to you and your assets at the end of your life. Many people think that estate planning just means preparing a will, but this type of planning actually covers much more.

What Is Estate Planning? | The Motley Fool Estate planning is the process of preparing for end-of-life issues, planning for what will happen after your death, and taking control of your legacy.