San Francisco Bay Area Tax Attorney Releases "Buying U.S. Real Estate When ...
(PRWEB) August 30, 2011
Silicon Valley estate planning and probate lawyer Janet Brewer has released a new guide, " Buying U.S. Real Estate When Your Child Studies In America ." The free 14 page guide is available at calprobate.com/NRA.
“If you are a non-citizen putting a title in your name, it makes sense to have a qualified advisor help you avoid tax traps,” says Brewer. “Otherwise, if something were to happen, you would only be entitled to a $60,000 exemption from U.S. gift and estate taxes. Non-resident aliens (NRAs) pay a much higher rate of gift and estate taxes than U.S. citizens. The good news is that with a smart investment in good counsel, you can protect both your loved ones and your assets.”
Real-World Examples Illustrate Key International Estate Planning Issues
Brewer gives examples of nonresident aliens from several countries to illustrate key questions, issues and choices such families often face. “The examples are made up,” she explains, “but if your situation is anything like those in my examples, you need the help of an experienced international estate planning attorney .” Example #1: The Sasakis Learn the Risks of Online Legal Forms: If something happened to Emiko and Dai Sasaki of Tokyo, their son Hiro, a student at Stanford, could face a tax bill of $143,000. Learn how Dai hires an attorney and creates a tax-saving plan.
Example #2: The Francos Coordinate Estate Planning Between Countries: Genevieve Franco of Paris studies at USF and lives in the Francos' second home in Burlingame. Learn why the Francos urgently need an attorney's help to coordinate estate planning between the U.S. and France.
Example #3: The Laus Benefit From Proper Healthcare Authorizations: Kim Lau of Hong Kong, a student at California University of Management and Technology, gets injured one day. Learn which documents on file authorize his doctors to share health information with his parents.
California Probate Forms - News
But if Poppet gets fascinated with probate, I'm hiding the martini olives and ant poison. There was one last chance for relaxation this summer. Hurricane Irene prevented anyone from doing anything. Or should have. As roofs leaked, oak limbs crashed in
The laws of intestate succession required a probate of Henry's estate and his wife was appointed the administrator. The court directed the estate assets be distributed one-third to Henry's wife and two-thirds equally to Gail and her stepsister.
There are seven Divi- sions of the County Department including Law, Chancery, Criminal, Domestic Relations, Child Protection, Probate and Juvenile Justice. Generally, the Law Division hears civil actions for money in excess of US$30000.
If there is no court supervised administration of the decedent's assets (ie, if there is no probate), the "executor" for this purpose is anyone in possession of the decedent's property. What relief is allowed for amending or late filing of the Form
If an investor buys a $1.5 million property in US and dies owning it without ever having put it in a trust, the probate cost alone could be as much as $28000. If that investor also happens to be a non-resident alien, the estate taxes could be $495000.
How to File for Probate in California? Is Probate Simple? | We Help ...
Probate is the process by which the court oversees the management and distribution of a person’s property after that person passes away. In California, the process begins when the petition for probate is filed with the superior court clerk. If the estate is small and uncontested, the process may take as little as 8 months to complete. However, according to the Superior Court of California Self Service Center, complicated estates require extra time and could take years to resolve.
Obtain an original copy of the decedent’s will and the death certificate and begin to inventory the decedent’s assets, debts and other property. Contact the personal representative named in the will. Inform him that the decedent has passed away and that he has been named to act as the executor of the decedent’s estate. Instruct the personal representative to initiate the probate process. Obtain the probate forms from the California Superior Court in the county where the decedent lived. Typically, you must obtain a petition for probate, a notice of petition to administer the estate and letters of testamentary. Complete the petition for probate and file it with the superior court clerk. Attach an original copy of the will and the death certificate with this filing. At this time, publish notice of your intent to administer the estate in a newspaper of regular circulation in the county. Mail copies of this notice to those who are named in the will or directly related to the decedent to inform them that probate is to be started. Attend the hearing date scheduled by the court to initiate probate. At this time, the court will issue the letters of testamentary, which grant the executor the authority to act according to the decedent’s will.California Probate Forms - Bookshelf
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