When property is transferred whether as an “inter vivos” meaning during life transfer, or as a result of death, it may be subject to taxes like property taxes and transfer taxes. When property is transferred as a result of death in some states an inheritance tax may apply to the heir or person receiving...
Continue reading ›“Who” gets “what” is the most important part of creating a will, trust, or other similar instrument. Often the terms heirs and beneficiaries come up and can be disputed during the probate process. The two terms often are mentioned in the same document and can seem like they refer to the same people. However,...
Continue reading ›An estate is categorized by the duration of time one holds an interest in the estate. For example, an estate acquired through inheritance is categorized differently from an estate for years. There are three different ways an estate can be categorized, which is codified in California Civil Code section 765. Essentially, section 765 categorizes...
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