3:00 probate in CA is based on the GROSS VALUE of assets! Whoa!. That means regardless of any debt you carry the fee is based on the asset value NOT the net worth!
does this mean ALL ASSETS, even ones that bypass probate via beneficiary designations etc. are subject to probate costs, similar to how an estate tax is calculated?
@@HeritageWealthPlanning We the clients are waking up to the reality we need the Grantors Prebate Nickel or Grantees Probate Dime to keep greedy trustees and inheritance thieves from stealing our legacies. So even Bank accounts, pink slips, to IRA Roths need Administration Lawyers to validate check for forgeries and Notary Index Crime Enforcement Regulatory's NICER 33-Year reformed Latin Law Crime Interdiction Administration to avoid the Estate Plan forgers, Trust Counterfeiters, and Financial Elder Abusers who are changing our documents when we're vulnerable to steal our Legacy.
@@HeritageWealthPlanning All assets included in a decedent’s gross estate for federal estate tax purposes get an adjusted cost basis EXCEPT non-Roth IRA/401(k)s and annuities. This is whether they go through probate or not. For example, a decedent’s residence in their living trust gets an adjusted cost basis on the death of the decedent. Hope this helps!
@@CunninghamLegal i was actually talking ab how all assets one owns are calculated for estate tax - is that how the gross value of the probate works? You own it, it’s included in your gross probate fee regardless of it bypasses probate or not?
@@HeritageWealthPlanning No. Although the taxable estate includes ALL assets (even IRAs!) the tax is assessed on the net value after encumbrances (mortgage debt, unsecured debt, and other debts). There can be other deductions on the estate side as well as deductions on the Form 1041 that is filed if the post mortem income is greater than $600.
I've been trying to get my father to make a will, since he inherited property from my grandparents. But he is deaf and can only communicate by ASL. Are there any attorneys that are also fluent in ASL or would we need both an attorney and an interpreter? Also, there is a lot of legalese that would need to be explained to my dad for him to understand that all these things mean. Do you have any recommendations?
We do not have an attorney fluent in ASL, so an interpreter may be necessary. Our attorneys are extremely talented at breaking down difficult to understand topics for our clients and explaining it in a way so that it makes sense to them- that's a big part of the job! We try to avoid the complicated terms whenever possible. You can contact us here to set up an appointment: www.cunninghamlegal.com/california-law-offices/contact/
What if the will, banks and probate is being transacted overseas, in order that the net inheritance can be delivered to the USA? Is the money then free of any additional legal reporting? Currently, my inheritance is being held at an overseas bank which has a fixed rate of payment required before the inheritance can be wired into my local credit union here in Oregon or to another credit union which I have an account at in California. Is it then free to be used and placed into a living trust here in California or Oregon? I spoke with one of your staff about my challenges and have not yet heard back about whether you may be able to help me. Please let me know if you have interest and capability to aid in the transfer of my inheritance. Thank you.
Great question, and it's a very complex answer, because it would depend on a variety of different factors. This would be best tackled one-on-one and attorney Diego Alvarez-Miranda in our office is the best lawyer to speak with on this issue: www.cunninghamlegal.com/california-law-offices/contact/
Yes, we have attorneys that can handle matters in Riverside County. Please reach out if you are in need of legal representation: www.cunninghamlegal.com/california-law-offices/contact/
3:00 probate in CA is based on the GROSS VALUE of assets! Whoa!. That means regardless of any debt you carry the fee is based on the asset value NOT the net worth!
does this mean ALL ASSETS, even ones that bypass probate via beneficiary designations etc. are subject to probate costs, similar to how an estate tax is calculated?
@@HeritageWealthPlanning We the clients are waking up to the reality we need the Grantors Prebate Nickel or Grantees Probate Dime to keep greedy trustees and inheritance thieves from stealing our legacies. So even Bank accounts, pink slips, to IRA Roths need Administration Lawyers to validate check for forgeries and Notary Index Crime Enforcement Regulatory's NICER 33-Year reformed Latin Law Crime Interdiction Administration to avoid the Estate Plan forgers, Trust Counterfeiters, and Financial Elder Abusers who are changing our documents when we're vulnerable to steal our Legacy.
@@HeritageWealthPlanning All assets included in a decedent’s gross estate for federal estate tax purposes get an adjusted cost basis EXCEPT non-Roth IRA/401(k)s and annuities. This is whether they go through probate or not. For example, a decedent’s residence in their living trust gets an adjusted cost basis on the death of the decedent. Hope this helps!
@@CunninghamLegal i was actually talking ab how all assets one owns are calculated for estate tax - is that how the gross value of the probate works? You own it, it’s included in your gross probate fee regardless of it bypasses probate or not?
@@HeritageWealthPlanning No. Although the taxable estate includes ALL assets (even IRAs!) the tax is assessed on the net value after encumbrances (mortgage debt, unsecured debt, and other debts). There can be other deductions on the estate side as well as deductions on the Form 1041 that is filed if the post mortem income is greater than $600.
I've been trying to get my father to make a will, since he inherited property from my grandparents. But he is deaf and can only communicate by ASL. Are there any attorneys that are also fluent in ASL or would we need both an attorney and an interpreter? Also, there is a lot of legalese that would need to be explained to my dad for him to understand that all these things mean. Do you have any recommendations?
We do not have an attorney fluent in ASL, so an interpreter may be necessary. Our attorneys are extremely talented at breaking down difficult to understand topics for our clients and explaining it in a way so that it makes sense to them- that's a big part of the job! We try to avoid the complicated terms whenever possible. You can contact us here to set up an appointment: www.cunninghamlegal.com/california-law-offices/contact/
What if the will, banks and probate is being transacted overseas, in order that the net inheritance can be delivered to the USA? Is the money then free of any additional legal reporting? Currently, my inheritance is being held at an overseas bank which has a fixed rate of payment required before the inheritance can be wired into my local credit union here in Oregon or to another credit union which I have an account at in California. Is it then free to be used and placed into a living trust here in California or Oregon? I spoke with one of your staff about my challenges and have not yet heard back about whether you may be able to help me. Please let me know if you have interest and capability to aid in the transfer of my inheritance. Thank you.
Great question, and it's a very complex answer, because it would depend on a variety of different factors. This would be best tackled one-on-one and attorney Diego Alvarez-Miranda in our office is the best lawyer to speak with on this issue: www.cunninghamlegal.com/california-law-offices/contact/
Do you have an attorney that has experience in Riverside County Ca ?
Yes, we have attorneys that can handle matters in Riverside County. Please reach out if you are in need of legal representation: www.cunninghamlegal.com/california-law-offices/contact/