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Property Tax Exemptions

W. Bailey Smith

Some transfers of California real estate between parents and children are exempt from reassessment. That means that your children might get to keep your low Proposition 13 taxes! Your children may exempt from reassessment (1) your primary residence and (2) $1,000,000 of...

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Does Mom Need Help?

W. Bailey Smith

“Your mother’s doctor called to tell you in a few days she can return home but she’ll need someone to help her at home with cooking, cleaning, and bathing.” or “Mom seems okay but papers are piling up, bills aren’t getting paid,...

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Four Necessary Legal Documents Every 18-Year-Old Should Have

W. Bailey Smith

When your child turns 18, it’s the year they are able to vote for the first time; it’s the year that they graduate from high school; and it’s the year your child becomes an adult in the eyes of the law. Many...

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The 10 Biggest Mistakes in Estate Planning

W. Bailey Smith

I fix trusts; don’t make these mistakes. To learn more, call us at 949-756-0684 for a free consultation in either our Irvine or Long Beach office.

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Four Great Books on Aging and Elder Care

W. Bailey Smith

Longevity is generally better than its alternative. But when the body or especially the mind wears out, caring for yourself or finding someone else to do it for you can impoverish you in short order. These books are all in their own...

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Aging Parents with Lots of Stuff, and Children Who Don’t Want It

W. Bailey Smith

Mothers and daughters talk about all kinds of things. But there is one conversation many daughters are reluctant to have with their mothers. What to do- eventually- with mother’s beloved set of Lenox china, silver, and antiques? The only heirlooms Susan wants...

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Living Trust or Living Nightmare?

W. Bailey Smith

Outdated documents can be worse than no estate plan at all. We have reviewed thousands of trusts in California and have found that many of these old estate plans can put your estate in serious jeopardy. Call our office to update your...

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Protect Your Children’s Inheritance

W. Bailey Smith

How are you leaving assets to your children? Are you leaving your assets to your children unprotected when you die, or are you leaving the assets protected in an ongoing trust? The typical revocable living trust allows your children to avoid probate...

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How to Get Started

W. Bailey Smith

Contact us for a free consultation to discuss your estate plan at 949-756-0684. We will send you a questionnaire for you to complete and have available at the consultation. (Or click here to Download the Questionnaire.) You and your spouse must be...

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Will You Become the Next Terri Schiavo

W. Bailey Smith

The American Medical Association tells us that 78% of the patients at the emergency rooms today don’t have a current HIPAA release form or an advanced health care directive. If you have a medical emergency, it is important to have an advanced...

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Was Your Will Written in the Statehouse? The “Intestate Statute”…

W. Bailey Smith

Was your will written by Jerry Brown? Everyone has a will but not everyone has written a personal will. If you have been a procrastinator and never written a will, no problem because Jerry Brown has written the will you failed to...

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How Limited Liability Companies (LLCs) and Corporations Protect Your Life Savings

W. Bailey Smith

Last year over 24,000,000 lawsuits were filed. If you own investment real estate or a business you should consider creating a limited liability company or a corporation to protect your personal assets from claims and liabilities relating to those business assets. Yes,...

elderly couple

Busting Your A-B Trust

W. Bailey Smith

These days very few families need a complicated tax avoidance trust. Many trusts were set up over the years to help protect wealth from death taxes. The old A-B Trust allowed you to double the tax savings by creating 2 trusts. However,...

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Why You Should Hire W. Bailey Smith As Your Attorney

W. Bailey Smith

Over 6,000 satisfied clients have discovered the benefits of our proven system_ Mr. Smith has personally drafted over seventhousand (7,000) Trusts. We specialize in helping families keep their assets in their family bloodline. We avoid creditors and predators so that your assets...

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What is the Biggest Legal Loophole in the Tax Law Today

W. Bailey Smith

Even for those with modest estates, one available planning option which is growing in popularity is the “Family Legacy Trust.” This arrangement is also known as the “Generation Skipping Trust,” or the “Dynasty Trust,” because it is intended to provide a source...

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Grantor Retained Annuity Trusts (GRATS) – How Beneficial?

W. Bailey Smith

The Grantor Retained Annuity Trust (GRAT) is an irrevocable trust that you create. At the end of its life it will transfer the assets remaining in the trust to someone else (normally your children). While the trust is in existence, it pays...

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