A business succession plan is one of the most important things you can create. It protects ownership, leadership, and your family’s continuity in the event of a retirement or unexpected death. The right tools ensure your business stays operations and that the right people take over. You can avoid probate delays, unnecessary tax exposure, or…
An irrevocable trust can be changed under California law. There are four primary ways of terminating an irrevocable trust, including by consent, by decanting, through nonjudicial settlement agreements, and court petitions under the California probate code. Knowing which option is the right fit for your situation requires an understanding of California law and the specifics…
Once you’ve created a California estate plan, you may think you never have to look at it again. The reality is different. There are certain triggers especially that should make you review your estate plan to ensure it still works they way you want it to. At Filippi Law Firm, P.C., our California estate law…
A Qualified Terminable Interest Property (QTIP) trust is a type of marital trust authorized under state law. It lets you leave assets in your trust to a surviving spouse while locking in other final beneficiaries. This is often children from a prior marriage. This ensures your spouse has income for life and perhaps limited access…
If you are the beneficiary of a California trust, you have legal rights as soon as the settlor passes away. You are allowed transparency about the process, information about what is happening, and that the trustee follows appropriate administrative procedures. There are powerful enforcement tools under California law if the trustee fails to comply with…
If someone passes away with a living trust, California law requires that the successor trustee take over right away. There is a specific legal process for the first 120 days of the new trustee’s job. There are mandatory notices, valuation of assets, fiduciary duties, and much more. California law sets forth specific responsibilities and guidelines…
A power of attorney (POA) lets you appoint a particular person to manage your legal affairs and financial matters if you’re unable to do so yourself. A POA becomes effective immediately (durable) or only after you become incapacitated (springing). Knowing which is most appropriate for you matters on the specifics of your life and the…
Most Californians are looking for a comprehensive option to answer many questions, such as whether to rely on a will or add a trust into the equation. A revocable living trust helps avoid probate if it is properly funded, while a will alone will head into probate. This tool and others can help families avoid…
The federal estate tax exemption increased to $15 million per person as of January 1, 2026, and up to $30 million for married couples. This shift is now permanent. This is a major jump from the $13.99 million tax exemption that existed before. It changes how high-net-worth individuals and families should think about their estate…
A California estate is valued by completing the Inventory and Appraisal Form (Form DE-160/DE-161). A court-appointed probate referee will appraise the assets you are unable to value yourself. Probate Code §8800 requires that this form be filed within four months after Letters are first issued. This can be a complex process to handle on your…
