KELSCH LAW GROUP

09/11/2024

America 🇺🇸

01/18/2024

www.kelschlawgroup.com

So on Friday I filed a Heggstad Petition in San Diego Superior Court Probate division. This is a probate petition asking the judge to order certain personal property into this client’s trust. Yes…this client had a revocable living trust. Her house was in the trust! So good! You know what was NOT - over 700k in bank accounts, stock accounts, and a safe deposit box. Upon death the accounts were immediately frozen - no access to them by the successor Trustee of her trust! So instead of a full blow probate filing, I filed this petition…you know when the first hearing is MAY 29 2024….ridiculous. No money to pay the house bills, no money to maintain the estate, no money to pay for funeral services, no money to distribute to the heirs. I actually paid on behalf of the estate the $600 in filing fees so far. In fact I will be fronting all the costs until the court orders those accounts into the trust. If the court rules against us we start over with a full blown probate filing and another hearing in about 6 months then probably another 6 months to close the probate matter.

First thing…GET your estate planning documents drafted. Secondly, make sure you properly FUND your trust by placing your assets in the trust otherwise you will end up like this client 🤦🏻‍♀️☝🏽💒🕜

I just filed a deed today placing this clients’ house into their trust…they still have to transfer the rest of their assets as well… but with our guidance they will get it done ✅

Www.kelschlawgroup.com

07/25/2023

AVOID PROBATE 🆘⚖️☎️

www.kelschlawgroup.com

Book a 15 min consultation!

So many families lose too much to probate courts. Usually, all of these costs, wasted time, and conflicts are completely unnecessary … caused by one or more critical mistakes.

After a lifetime of caring for your family and finances … have you spent enough time planning for the moment when you can no longer be there for them?

Is there a plan that won’t leave your family with a mess of mismanagement, taxes, probate court, and legal fees?

A plan that protects those hard-earned assets and ensures they are there for generations to come?

I’m attorney KRISTAN KELSCH and my team is works hard to help families avoid these critical mistakes … protect what they have earned … and care for their families no matter what life brings them.

916-230-4000☎️

07/18/2023

https://us02web.zoom.us/rec/share/dXMqi6JDYDOLP-OmFQS0smUcqKXiDWEveNVfqftBW78oLG8tD3VxbQIC5e_vNqFm.63DjX-gr3o_mrY3x

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06/03/2023

THINKING OF YOUR FUTURE…

Several temporary tax provisions that were part of the 2017 Tax Cuts and Jobs Act are set to expire at the end of 2025, including the lifetime estate and gift tax rules.

The exemption amount for 2023 is $12.92 million per person or $25.84 million for couples. This means for those below these exemption amounts there is currently no estate tax due upon death. If the scheduled sunset takes place in 2026, the estate and gift tax exemption will revert back to an estimated $7 million per person or $14 million for couples, depending on the inflation rate over the next few years. With this pending change on the horizon, you might consider revisiting your estate strategy if you are uncertain whether the sunset will influence your approach.

The sunset's impact extends beyond lifetime estate and gift tax rules. For example, the top income tax rate is expected to revert to 2017 levels, rising from 37% to 39.6%. The $10,000 limit on state and local tax deductions is scheduled to expire, as is the $750,000 cap on mortgage interest deduction.

At Kelsch Law Group, we are committed to delivering customized legal services that are specifically designed to meet your individual requirements. The law firm’s team, possessing extensive expertise in their respective domains, provide all-encompassing legal solutions concerning Estate Planning, ....

06/02/2023

www.kelschlawgroup.com

At Kelsch Law Group, we are committed to delivering customized legal services that are specifically designed to meet your individual requirements. The law firm’s team, possessing extensive expertise in their respective domains, provide all-encompassing legal solutions concerning Estate Planning, ....

06/02/2023

www.kelschlawgroup.com

The LLC Advantage: Protecting Your Assets and Future

Introduction:

In the world of business, your venture is more than just a means to earn a living – it's a significant investment of your time, energy, and resources. Therefore, choosing the right structure for your business is crucial. While operating as a sole proprietor may seem like a simple and cost-effective choice, it lacks the critical component of asset protection. On the other hand, establishing a Limited Liability Company (LLC) provides not just business legitimacy and tax benefits, but also invaluable asset protection. This article will explain why forming an LLC, even if taxed as a sole proprietorship, can be a wise business decision.

The Value of an LLC:

An LLC is a unique business structure that offers the best of both worlds: the simplicity and flexibility of a sole proprietorship and the asset protection and credibility of a corporation. It serves as a legal shield, protecting your personal assets from potential business debts and liabilities. This is a significant benefit over a sole proprietorship, where your personal and business assets are one and the same in the eyes of the law.

Asset Protection: An LLC's Key Advantage:

In the event of a lawsuit or claim against your business, as a sole proprietor, your personal assets – your home, car, and personal bank accounts – could be at risk. However, an LLC creates a legal distinction between you and your business. If your business is sued, only your business assets are at risk. The personal assets of the LLC members are typically safe from business creditors.

Considering Rental Property:

Let's consider the example of owning rental properties. If these properties are owned in your personal name, and a tenant, contractor, or visitor gets injured on the property, you could be personally liable for any resulting claims. Your personal assets could be seized to satisfy a judgment if the claim exceeds your insurance coverage.

However, if these rental properties are owned by an LLC, your liability is generally limited to the assets owned by the LLC - in this case, the rental properties. Even if a judgment exceeds the value of the properties, your personal assets are usually not at risk. This is one of the ways an LLC can provide a strong layer of protection for your personal wealth.

05/30/2023

www.kelschlawgroup.com

🤱🏻Are you a Mama looking to:

🩵 Protect your minor kids
🩵 Make sure they are provided for if you aren't around
🩵 Name a Guardian who you trust
🩵 Keep your family out of Probate Court
🩵 Secure your home, life insurance, and assets

We've got you covered! Create a Custom Plan with our Attorneys today.

Email us today [email protected]