10 Tips for an (Almost) Flawless Last Minute Tax Return

written by California Estate Planning Attorney Carmen Rosas. 

TAXES

Everyone makes mistakes, but your taxes are one area where you don’t want to. Here are some tips via Forbes .

  1. Slow Down
  2. Check Your Math
  3. Check Your Numbers
  4. Don’t Skip Questions
  5. Write Neatly
  6. Sign Your Return
  7. Send In Your Returns
  8. Include the Right Mailing Address
  9. Save Your Records
  10. Don’t forget your check!

Reduce the Risk of Identity Theft When a Loved One Dies

written by Bay Area estate planning attorney Carmen Rosas.
 

Don't let your loved ones be the victim's of identity theft.
Don’t let your loved ones be the victim’s of identity theft.

A common trend among identity thief’s?

Afterlife identity theft. And unlike, the recent comedy released, it’s not a funny topic. Identity thief’s are using obituaries to obtain information about deceased individuals.

Upon the passing of a loved one, be sure to contact all financial and government institutions, including:

  • Banks
  • Social Security Office
  • Credit Bureaus

 

Happy St. Patrick’s Day!

Wishing you all a lucky day! I hope you’re wearing green!

In honor of St. Patrick’s Day and getting lucky, we have a new referral program! If you refer a client and they execute any estate plan, you’ll receive a $100 Visa Gift Card!

 

Happy St. Patrick's Day!

Time flies……

….when you’re having fun!

Hi and Happy February!   february

I cannot believe how quickly time has flown. It’s been almost a month since my last post and I promise to keep in touch more! We have been busy with new estate plans and planning tricks and tips for our clients. On top of that we have been busy out in the community.

Not sure if I mentioned it, but I was elected president of the Santa Clara County La Raza Lawyer’s Association. I was so honored to be nominated and know I have some big heels to fill. If you don’t know much about the organization, visit our website www.scclarazalawyers.com and see what new and exciting events we have going on.

In addition to that, two of my estate planning articles were published in an online magazine and I am in the process of writing a third article for another online magazine! The articles are here– take a look and please let me know your thoughts!

Well, just wanted to check in with you and give you an update. I will also be sending out my Valentine’s Day Newsletter this week so stay tuned!

If you do not yet have an estate plan, have questions or need help with a trust administration or probate proceeding, schedule your  30 minute complimentary strategy session. Simply schedule your call on our website contact page or simply click this link!

 

College Cost and Your Child’s Inheritance

College Fund

written by Bay Area estate planning attorney Carmen Rosas.

Question: Our younger son attended a state college  and our older daughter, an ivy league school that cost far more. We want to take into account the difference in the expense as we decide what to leave our sons in their inheritance. How do we do this?

Answer: It’s your decision on how you distribute, and your will or trust can be structured accordingly. However, have you thought through your approach?

Most parents raise children out of a common pot, providing for each one’s unique needs from the same account. Comparing the costs of raising them is a slippery slope.

Does one get more because she did not require braces? The other less because he failed math, took a summer course and could not work a summer job?

I question the wisdom of adjusting inheritances based on uncontrollable childhood circumstances and youthful choices. Also, it could create animosity between siblings.

It’s another matter to base unequal inheritances on what you’ve given them in their adult years. Children tend to understand and respect that approach. For example, if you gave one a sizable down payment to purchase a home, you may want to deduct that from his inheritance.

Whatever you decide, make sure you consider the impact on the relationship of your children and grandchildren after you pass away.