Basis - Noun The underlying support or foundation for an idea, argument, or process. Basis has its roots or foundation in our fundamental family assets of how they are taxed by the Federal Government. For Example, if John gifts his secondary home to his daughter Julia, the home will be given to Julia but at the same basis that John originally purchased the home. John bought … [Read more...] about Understanding Basis and Why it is important to you and your Family?
Understanding Probate In simple terms, probate is a process that allows a person to transfer their property to living beneficiaries after death. This process involves a local court, which reviews materials and documents related to the distribution of assets and debts. Probate is often conducted whether or not the deceased person leaves a will. Probate is a vitally important … [Read more...] about What Is Probate & Why Is It Important?
Probate is the legal process which deals with the interpretation and execution of your will, or division of property if you do not have a will. After your death, this probate process can be long, stressful and expensive for your beneficiaries. Everyone needs to get paid, so the court, attorneys, referees and others all take their cut – this can add up to a sizeable chunk of … [Read more...] about How You Can Avoid Probate
Estate planning is one of the most misunderstood areas of the law. Since estate planning deals with the division of your property after your death, many people are hesitant to learn more. This is unfortunate, because a well-constructed estate plan is an effective way to protect your family and make sure your assets are distributed according to your wishes. Today we are … [Read more...] about The Truth About 4 Estate Planning Myths
While estate plans are commonly associated with the wealthy or elderly, they can actually benefit anyone who has assets or a family. Many people choose to put off estate planning until it’s too late. When you call the Law Office of James A. Zakasky, our Santa Rosa estate planning attorney can help you by crafting a comprehensive plan that will benefit you and your family in … [Read more...] about 3 Reasons You Need an Estate Plan