Author: Patricia De Fonte – Estate Planning Attorney

Having an updated estate plan is more important than ever. However, documents that are poorly created or not frequently updated can be vulnerable to contestation. What is contestation? It is the formal objection to a will’s (or trust’s) validity because it either: a) doesn’t reflect the wishes of the person who created the will, or…

I wrote a newsletter on the perils of do it yourself (DIY) estate planning. I have seen quite a few of these over the years. I have worked with clients who paid hundreds of dollars to use an online platform. Sadly, the documents would create nothing but chaos and heartache for their families. Happily, I…

Many people who inherit wealth or small businesses are at significant risk for essentially squandering the wealth. An Ohio University study shows that an astonishing 33 percent[1] of all beneficiaries lose their entire inheritance within two years of receiving it. The ways they manage to do so are as varied as the imagination, but there…

A will or trust contest can wreak havoc on families. The conflict can result in possibly irreparable resentment and loss of familial communication. Old rivalries and disputes can resurface during the trying time that occurs after the death of a loved one, especially a parent. But careful estate planning can help you substantially reduce the…

As the coronavirus continues to disrupt daily life and leave Americans uncertain of the future, you don’t have to feel helpless during this pandemic. In fact, now is a great time to be proactive and plan ahead should you or a loved one fall ill. One of the most important and relatively easy things you…

Personalization is the key to an effective estate plan. The best estate plan is one that reflects your goals and values, minimizes risk for the beneficiaries, and addresses the specific circumstances of your life. Let’s talk about “Sam”. Sam is a Giants fan, as was his father, his grandfather, his uncles and he hopes his…

As we are home with our families, tensions can run high with the demands of work, family, and household. Every client I have worked with has told me that signing their documents has brought them great peace of mind. Guardian nomination If you have not completed or updated a guardian nomination, now is the time…

Everyone today is afraid of COVID-19. What can you do to help your clients? You can send them a note reminding them to prepare or update their advance health care directive and HIPAA waivers. These forms are available online at no cost. Every person over the age of eighteen should take thirty minutes to fill…

Financial Advisors: Real estate is often a substantial element of your client’s portfolio – one you are not managing or advising on. Please let your clients know that they must, as part of their end of year tax planning, address Prop. 19 with their estate planning attorney and perhaps discuss it with their parents and…

In California, estate planning revolves heavily around avoiding reassessment and planning for a step up in basis to avoid capital gains for real estate transactions. Real estate holdings are often the centerpiece of a family’s wealth. Prop 13 protected those properties from reassessment, regardless of the quantity or value of real estate passed down through…