Probate. You’ve heard this term tossed around by attorneys and finance professionals. Everyone says it’s annoying, time-consuming, and that you need to avoid it. But what is it? Probate is the court-supervised legal process of validating the will (if one exists) of someone who passed away, paying their debts and taxes, and distributing their remaining assets to heirs or beneficiaries according to the will or state law. Probate court is […]
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KJMLAW Partners is pleased to participate in the STEP Orange County 14th Annual Institute on Tax, Estate Planning, and the World Economy. The Institute convenes leading practitioners to explore current developments in tax and estate planning and the broader global economic landscape. We are proud to have Kevin J. Moore representing the firm as a speaker during a Master Class session, sharing practical insights with peers and industry leaders. STEP […]
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Trusts are powerful tools used in estate planning to protect and distribute assets according to a person’s wishes. But what happens when something goes wrong? What if someone’s left out, the rules aren’t followed, or the money disappears? Litigation might become the answer. Unlike probate, trust litigation involves disputes over trusts that often avoid probate and can arise at various stages, focusing on issues related to trustee conduct and trust […]
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California’s probate landscape has undergone significant changes, creating new opportunities for streamlined estate transfers. The passage of Assembly Bill No. 2016 (AB 2016) on September 21st, 2024, signed by Governor Newsom, modernizes procedures for property transitions, including certain provisions that benefit estates of varying sizes. While the bill’s main change raises the small estate threshold for primary residences to $750,000, its broader reforms to affidavits, petitions, and notice requirements offer […]
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Choosing the right trustee is one of the most critical decisions when establishing a trust. The trustee ensures the grantor’s wishes are fulfilled and safeguards the beneficiary’s interests. For those creating a trust as part of their estate plan, understanding the trustee’s role and responsibilities empowers informed decision-making, helping to ensure that your wishes and intent are carried out. What Does It Mean to Be a Trustee? A trustee is […]
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There are many nuances to consider when it comes to the statutes of limitations and deadlines involved in an inheritance claim. In the case of California state law, deadlines can range from 120 days from the moment you are notified of a testator passing away, to essentially none, depending on the circumstances, with the whole process typically taking around 9 months. That’s why knowing what is involved is critical to […]
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Being a trustee and beneficiary of a trust is a complex role that needs to be balanced to keep it fair and legal. A trustee manages and administers the trust assets and must be impartial and in the best interest of all beneficiaries and not self-serving. A beneficiary gets benefits from the trust like distributions or use of assets and has the right to make sure the trust is managed […]
Read MoreOn the latest episode of The Probate Realtor Show Matias Baker Masucci had Kevin Bayley, an attorney at KJMLAW Partners on the show to talk about complex trust administration. What is Trust Administration? Trust administration is the process of managing and distributing a deceased person’s assets according to their trust. While the goal of setting up a trust is to avoid the long and expensive probate process, trust administration still […]
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A trustee, whether an individual or a corporate entity, is appointed to manage and oversee the assets held within a trust for the benefit of the beneficiaries. The trustee role carries significant responsibility and potential legal liabilities. Understanding trustee liability is essential for anyone serving as a trustee or considering taking on this role. This knowledge helps navigate the complexities of trust administration and ensures fiduciary duties are met. Missteps […]
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How Can a Trust be Challenged? As California lawyers, the attorneys at KJMLAW Partners are often asked about how to challenge a trust or how to create a trust that will withstand a challenge. Trusts are powerful legal instruments designed to protect assets, provide for beneficiaries, and facilitate estate planning. However, like any legal arrangement, trusts can be subject to challenges under certain circumstances. Whether due to suspicions of undue […]
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On April 16, 2024 the Canadian Federal Government issued its 2024 Budget that announced key changes in taxation coming into effect on June 25, 2024. These changes particularly impact the taxation of estates and will likely have a profound impact on estate/succession planning for both Canadian residents and non-residents with investments/assets located in Canada going forward. Capital Gains Taxes Imposed By The Canadian Federal Government Following Death Unlike the United […]
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Kevin Moore was recently featured as a guest on the Legacy Leaders Podcast, hosted by Tim Garrity. During this conversation, Kevin provides a glimpse into the essence of what has made KJMLAW Partners stand out in the field of estate planning and business taxation since 1992, and speaks candidly about the intricacies of estate planning, the pivotal role of estate tax returns in preserving financial legacies, and the importance of […]
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What is An Omitted Spouse? When a spouse dies, the will or trust most commonly provides that their surviving spouse will receive all or most of their property and assets. The presumption that a surviving spouse should receive something is so strong that California law protects the surviving spouse even if they aren’t mentioned in the will or trust. Under California law, such a spouse is considered to be an “omitted spouse.” […]
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We’ve all heard horror stories about families that fall apart after the death of a parent. Siblings stop talking with each other or even end up suing each other. A son or a daughter cuts a parent out of his or her life. Obviously, the reasons for such breakups vary. But in my experience, the primary reason is that the death of a parent almost always raises difficult and emotional […]
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Estate Planning Lawyer Kevin J. Moore named as one of 2023 Southern California’s Super Lawyers We are excited to announce that Kevin J. Moore has been named one of Southern California’s 2023 Super Lawyers, part of Thomson Reuters for the second year in a row! With over 30 years of experience in estate planning and estate tax planning for high-net-worth individuals and business owners, estate planning lawyer Kevin J. Moore has truly earned this honor […]
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This past year, Ontario, Canada drastically changed its succession laws in relation to how separations and marriages affect the validity of wills and the rights of surviving spouses. Now, under the laws of Ontario, separated spouses will not inherit under their former partner’s will or from a former partner’s intestate estate provided the couple was separated on or after January 1, 2022. Furthermore, marriages on or after January 1, 2022 […]
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When someone passes away, we have a sense of whom we expect to inherit the bulk of their property and other assets. When those expectations do not come to pass, the law sometimes intervenes and overturns the expressed desire of the person who passed away, as reflected in their will, codicil, trust, and related documents. The idea that specific provisions of a will or trust should not be carried out […]
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California’s recently passed Prop 19, is increasing residential property taxes. Please register for Kevin J. Moore’s Zoom webinar here: https://zoom.us/webinar/register/WN_nHIl8caRQHCAFZx0pb9PfQ to learn more about this and what you can do to properly prepare. The Zoom webinar will be conducted on Wednesday, December 9, 2020 from 2:00pm-3:00pm PST.
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Have you realized how much of your valuable personal information is online, pictures especially? We have ancestor history, banking accounts and details, travel logs, blog posts, and photos all available digitally. All of that digital information needs protection and if you don’t take action you might lose that information because your loved ones cannot access it. If you don’t securely save and share your passwords, when you pass away your […]
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Last week Kevin J. Moore attended the NYU 78th Institute on Federal Taxation in San Francisco. This conference covered the most advanced tax issues, offering participants a clear understanding of the key issues affecting their clients or business and presenting planning ideas that can immediately be used in practice. The Institute also provided the perfect setting to meet practitioners from all around the country. The range of attendees included: attorneys, […]
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