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…
AB 2016 changed who needs probate in California. As of April 1, 2025, most estates under $184,500 will still qualify as a “small estate” under Probate Code § 13100. This allows heirs to avoid many of the complexities of formal probate. With AB 2016, there is a new $750,000 probate threshold for the decedent’s primary…
Asset protection trusts can be incredibly powerful tools when used correctly. A California estate law attorney can help shield your wealth from lawsuits, business risks, and even creditors. Residents of the state can carefully structure trusts and utilize other strategies to legally protect much of your assets. Knowing how these trusts work, and how they’re…
