Law Office of Jennifer Thaete, PC

Like the quote says Nothing is certain except death and taxes. For weeks now we have been fielding calls from clients about the narrowly passed Proposition 19 and whether or not they should take action. In essence this Proposition which was backed by Realtor PACs to the tune of over 35 million dollars, if it lasts (more on that below) greatly changes the ability to preserve a Parent’s property tax basis when transferring that property to their Child(ren)....Continue reading

What causes a person’s estate to go through Probate?? Probate in California happens when the following facts are in alignment: #1 a person died... #2 they were over 18 #3 they owned assets a house, car, bank accounts, cds, stock, bonds, a business, etc. any one of these or any combination of these #4 the assets they did own were in their name #5 the GROSS Fair Market Value of those assets was $166,250.00 or more on the day they died #6 they did not have a Revocable Living Trust IF all of the above are true then the most likely result will be a Probate of that person’s estate to settle their estate & distribute what is left. There are other court processes in the probate vein which may be available if the actual facts aren’t 100% in sync with the above IE IF all the assets rightfully pass to a Surviving Spouse they may still have to go to court but they may be able to do a Spousal Property Petition IE all of the above are true but they DID have a Revocable Living Trust then we may need to go to court BUT we might be able to do a Heggstad Petition instead of a full probate. IE all of the above are true & one of the assets is real estate BUT the total gross value is under $166,250.00 then we need to go to court BUT we can do a Petition to Determine Succession to Real Property. The BEST & most EFFECTIVE way to avoid ALL possible court situations Probate, matters short of Probate, Conservatorship & Guardianship of assets for minors is to: #1 have a Revocable Living Trust based estate plan; AND #2 put your assets in the name of that trust!!! If you would like to learn how to avoid Probate and the other unnecessary court matters - consider attending an educational workshop. My next one will be on February 10, 2021 at 7 pm via ZOOM - to register go online with the LARPD and sign up. The fee for the class is 100% a donation to the LARPD Senior Services department. https://apm.activecommunities.com//virtual-class-est/19358 Photo of protestors in front of the Alameda County Superior Court for the algorerythms....

Hard to believe but true - it's already 5 days down in the new year!! One week from tonight- January 12, 2021 at 7 p.m. will be the first public estate planning workshop!! Many people have made setting up their estate plan a HIGH priority resolution this year - especially with the continuing pandemic.... What ever your motivation may be - if you haven't set up an estate plan - if you don't have a will or a trust - or you do but it's so old you have forgotten why you did what you did - I would strongly recommend attending an educational workshop as a very low obligation but high value way of Learning what your estate planning options are and why for MOST people having a Trust based estate plan makes sense. To register - log on to the LARPD website and sign up today!! https://apm.activecommunities.com//virtual-class-est/19357

Are you getting excited for a Brand New Year!!! I think this year that is one thing a majority of us have in common - kicking the current year to the curb and relishing a Fresh Start. IF you haven't yet created your estate plan - there is no time like the present. ... One way to get the ball rolling and move forward with this goal as opposed to letting it roll over to next year's list is to attend an Educational Workshop on Estate Planning and learn about your various legal options - the various legal documents typically utilized in an estate plan and what they can and can't do for you. My next 4 classes offered through the LARPD have been posted. Until further notice these will all be held virtually via ZOOM. Don't delay - sign up today!! And start January 1, 2021 knowing you have already done something to help you with this important aspect of life!! https://www.thaetelaw.com/upcoming-events/ https://apm.activecommunities.com/larpd/Activity_Search