Pederson Law Offices

Recent Blog: The Hidden Consequences of Do-It-Yourself Estate Planning The DIY approach to estate planning in California can lead to costly mistakes, including invalid documents, unintended tax consequences, and family disputes. Professional guidance is essential to navigate complex state laws, utilize advanced planning strategies, and create a comprehensive plan that truly protects your legacy and loved ones. Read more on our recent blog post: https://lnkd.in/gApVTptn #PedersonLawOffices #CAEstatePlanning

Recent Blog: Demystifying Trust Administration: What Is Its Purpose? Trust administration is the crucial process of managing and distributing assets after a trust creator passes away, ensuring their wishes are fulfilled while avoiding probate and maintaining privacy. Understanding the key responsibilities and fiduciary duties involved in trust administration is essential for trustees to navigate this complex process effectively and avoid potential legal issues. Read more on our recent blog post: https://lnkd.in/gP3pZRGw #PedersonLawOffices #CAEstatePlanning #CATrustAdministration

Recent Blog: California Trust Law Update: Notice Requirements for Incapacitated Settlors Changes to California Probate Code §15800(b) have introduced notification requirements for trustees to provide a copy of the trust to beneficiaries when a settlor becomes incapacitated, potentially impacting your trust administration. Learn about these changes and how you can amend your trust to align with your preferences during your incapacity. Read more on our recent blog post: https://lnkd.in/gV6YgmS4 #PedersonLawOffices #CAEstatePlanning

Recent Blog: Estate Planning After Divorce: Essential Considerations for California Residents Divorce significantly impacts your estate plan and updating it post-divorce is crucial for California residents to protect assets and provide for loved ones. From revising wills and trusts to updating beneficiary designations and addressing child support obligations, there are several key considerations to ensure your estate plan aligns with your new circumstances. Read more on our recent blog post: https://lnkd.in/gPJQ5yuz #PedersonLawOffices #CAEstatePlanning

Recent Blog: The Cost of Failing to Fund Your Trust Failing to fund your trust properly can subject your estate to probate, undermining one of the primary benefits of having a trust. It’s crucial to periodically review your assets to ensure they are properly titled and that beneficiary designations are set appropriately, as necessary. Read more on our recent blog post: https://lnkd.in/gxgzWPFq #PedersonLawOffices #CAEstatePlanning

Recent Blog: Protecting Your Beneficiaries from Their Poor Decision Making When planning your estate, consider protecting beneficiaries from their own poor financial decisions. Creating a trust with specific terms and conditions can prevent mismanagement of large sums of money. Incorporating spendthrift clauses, choosing the right trustee, and implementing staggered or discretionary distributions are essential strategies to safeguard your beneficiaries’ future and ensure your legacy is used wisely. Read more on our recent blog post: https://lnkd.in/g2UrvWph #PedersonLawOffices #CAEstatePlanning

???? This Memorial Day, our office will be closed as we pay our respects to the brave men and women who made the ultimate sacrifice for our freedoms. We invite you to join us in this important and solemn remembrance. Should questions or needs arise while we are out office, our team will address them when we resume regular business hours on Tuesday, May 28. #PedersonLawOffices #MemorialDay #CAEstatePlanning

Should I Put My Child on Title to My House? Adding a child to your house title can lead to increased property taxes, loss of control, and exposure to the child’s creditors, while also forfeiting the step-up in cost basis benefit. Trusts offer a strategic alternative, allowing for controlled asset distribution, tax advantages, and protection from beneficiaries’ creditors. Read more on our recent blog post: https://lnkd.in/gRUjuMFf #PedersonLawOffices