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Law Offices of Philip M. Flanigan
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A general power of attorney authorizes your agent to do almost everything on your behalf which you could do for yourself. A limited power of attorney authorizes your agent to perform only certain acts specifically listed in the document. http://bit.ly/2n6wSaZ
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The government allows every individual a credit against estate taxes. In the year 2009, the Unified Credit is equal to $1,455,800, which equals an Applicable Exclusion Amount from estate taxes of $3,500,000 in assets. This means that, in 2009, estate taxes will not be owed at the time of an individual's death unless the net value of the estate exceeds $3,500,000. http://bit.ly/2n6wSaZ
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Medi-Cal is a combined federal and California State program designed to help pay for medical care for public assistance recipients and other low-income persons. http://bit.ly/2tY1oqe
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Probate can be avoided with careful planning. There are a number of different techniques for doing so which can be used alone or in combination. http://bit.ly/2n6wSaZ
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It's not just for the wealthy. Estate planning is not tax planning. http://bit.ly/2mjhubg
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Call today for a free consultation! http://bit.ly/2mXcKKZ
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Probate is the court procedure used to change title to assets from the name of an individual who has passed away into the name of the living beneficiaries. It is also where all creditors of a decedent file claims to collect their debts and where interested parties who have a complaint regarding the deceased can file their complaint (a will contest). Even without a contest, probate can be costly and time-consuming. Probate is a public proceeding. http://bit.ly/2n6wSaZ
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Philip M. Flanigan holds a B.S. degree from California State University-Fresno and a J.D. degree from Pepperdine University School of Law, having graduated cum laude. http://bit.ly/2t0cgqf
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If you die intestate, the transfer of your property is accomplished through a court-supervised proceeding called probate that generally takes a minimum of six months, typically a year or more. These proceedings generally are expensive and time-consuming and tie up your property for several months. Probate can be avoided with proper estate planning. http://bit.ly/2n6wSaZ
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