McPherson Law Group

When I am talking to friends, colleagues and potential clients, they often tell me that they don’t need an estate plan because they don’t have enough money to reach the estate tax exemption ($5+ million). What is distressing to me is that individuals with estates worth one million dollars or less (this is the gross estate not taking into account any debt) have so much more to lose when they don’t have an estate plan in place. [ 369 more words ] https://christinamcpherson.wordpress.com//who-needs-an-es/

Most of us first think about estate planning once we have a child. We know that having a child means we have to create something to secure our children’s future should something happen to us. But what about when there are no children? I have several clients who fit this profile in various areas in the Bay Area, and I have done estate plans created living trusts for single and married, childless, individuals and couples in Oakland, San Leandro, Lafayette, Fremont, and Hayward, among others. [ 259 more words ] https://christinamcpherson.wordpress.com//estate-planning/

I have heard rumblings that estate planning is no longer necessary because the estate tax exemption is above $5 million, so only those with more than that need to do any estate planning. Here are the reasons why they are dead wrong: Probate costs. When you don’t have an estate plan and you have $150,000 in property in California, your estate goes through the process of probate, which can cost your estate tens of thousands of dollars in unnecessary fees. [ 922 more words ] https://christinamcpherson.wordpress.com//is-estate-plann/

It really is a good time (if there ever is a "good time") to qualify for MediCal for nursing home care. It's easier - now. One of the challenges with MediCal is that the laws/rules could change anytime, so pre-planning can be extremely valuable, too, & save literally hundreds of thousands of dollars.