How Can Estate Planning Reduce Your Tax Burden When You Die?
Estate Planning Attorney Depending on how much money your estate is worth, your family could be in for a rude awakening when your assets are taxed after your death. Right now, estates may be required to pay a tax of up to 40% of all their assets that exceed the $11.4 million limit. Note that assets include far more than the contents of your bank account; your total worth includes your investments, valuable possessions, and even your land. Consider a few tips that may help you minimize your tax burden so your loved ones receive the benefits you intend for …
Three Home Buying Myths You Need to Know
If you’ve been thinking about buying your first home, chances are you’re getting tons of advice from everyone you mention it to. It can be pretty overwhelming which is why I want to share 3 home buying myths you need to know if you’re considering homeownership. These will help debunk some of the things you may be hearing from people who want to give their advice from the kindness of their hearts but probably aren’t professionals. MYTH #1: You Have to Put 20% Down to Purchase a Home This could be the biggest home-buying myth of all time! Putting a …
Tips For Estate Planning
Creating an estate plan can seem like an intimidating process, so many people tend to put it off until the last minute. However, there are many advantages to thinking about your estate planning goals before a serious life event occurs. Anyone with cash and assets should consider making an estate plan, as an estate planning lawyer like one from Klenk Law. It can be hard to figure out where to start when it comes to creating an estate plan. Here are some tips for you to consider if you are thinking of starting an estate plan. Start Planning Early Estate …
What to Know When Facing A Foreclosure
There are many unfortunate events that can lead to the financial nightmare of a home foreclosure. Although this is a very difficult and unsettling situation to be in, there are options and steps that can be taken to help secure a grasp on the situation. Here are the top tips to consider when dealing with a foreclosure. Foreclosures Take Time The entire foreclosure process can take anywhere from two to 12 months, depending on how fast your lender acts and where you live. Some states allow a non-judicial process that’s faster, while others require time-consuming judicial proceedings. Once you miss at least …
Top Five Questions to Ask Your Trust and Estate Planning Attorney
One of the main benefits of hiring the right estate-planning attorney is the benefit of not having to make some of the tough decisions on your own that accompany the estate process. Unfortunately, if you make the wrong decision when hiring a legal representative, you could be stuck with much more than making tough decisions, such as extensive legal bills. Here are the top five questions to consider during your search for a legal representative. What is the law firm’s legal experience? It is vital to have an experienced legal team with a long list of successful cases when …
Family Law: Finding The Right Attorney
At Heritage Law, LLP, an Orange County law firm, we understand how emotionally draining family law situations may be for our clients. From divorce settlements to child custody disputes, finding the right legal team for the job is an important first step when mapping out your strategy in the event you may find yourself in the middle of a dispute. Here are the top tips to remember when searching for the right family law expert. Understand Needs From The Beginning When it comes to divorce, no two situations are ever the same. You will want to find a family law …
Three Legal Tips You Need to Start a Business
Advancements in technology such as cloud-based solutions and high-speed mobile data coupled with an ever-growing economy have resulted in a highly competitive job market. The same goes for corporate entrepreneurs as well. Despite these advancements in business technology, there are still a variety of setbacks that can occur when beginning any business venture. Building a solid legal strategy is one of the most important things you can do for your business to ensure all of your bases are covered from the very start. At Heritage Law, LLP, our attorneys help small businesses and entrepreneurs find the right organizational structure to …
Is an Irrevocable Trust Right For You?
Estate planning requires careful attention to detail as well as extensive planning to ensure that you are creating the right plan for both you and your family’s future. Many often struggle when having to make the decision of which trust is right for their situation- especially when it comes to irrevocable trusts. At Heritage Law, LLP, we make it our number one priority to inform you of all of your estate planning options. What is an Irrevocable Trust? You have two choices to fit your situation: revocable and irrevocable trusts. While a grantor could modify a revocable trust throughout his …
Business Formation: What You Need To Know
If you are a business entrepreneur, it is safe to assume you know starting a business or corporation is stressful, entailing a wide array of legal matters that need to be addressed and maintained from the start. Despite all of the hard work that goes into forming a corporation or business from the bottom up, if done correctly, corporate business legal structures provide the most protection from personal liability, a greater ability to raise funds, and many other advantages. At Heritage Law, LLP, we strive to offer our clients a full range of experienced legal counsel on everything from: …
Tax Planning Tips You Need To Know
There is nothing smarter and more beneficial than knowing how to budget and successfully plan around your taxes. That is why we have compiled some of the best tax need-to-know tips to make sure you are getting the most return on your taxes and investments. Invest In Non-Taxable Income: Did you know there are several options you have when it comes to non-taxable investments? If you have yet to invest in a Roth IRA or public/municipal bonds, you are missing out on a great opportunity to multiply your non-taxable income. Roth IRA accounts allow you to invest money into an …
