Moravec Varga & Mooney

Introduction The loss of a loved one is never easy, and in addition to the emotional burden, the process of handling their estate can be overwhelming. One of the first and most crucial steps in settling the affairs of the deceased is obtaining their death certificate. This vital document serves as proof of death and is required for a variety of legal, financial, and personal matters. Whether you're a family member, an executor, or an estate administrator, understanding the pr

Introduction When planning your estate, one of the most important steps is ensuring your assets are distributed according to your wishes. In California, understanding the role of a contingent beneficiary is crucial to a smooth estate distribution process. But what exactly does this term mean, and why is it so important for your estate plan? In this post, we’ll explore the concept of a contingent beneficiary, how they differ from primary beneficiaries, and why they play a pivo

Short Answer: Estate planning for Restricted Stock Units (RSUs) requires strategic thinking to address tax implications, vesting schedules, and the transfer of company stock. Incorporating tools like trusts, tax elections, and life insurance can help manage RSUs effectively. Advanced planning ensures that these assets are distributed according to your wishes and minimizes the tax burden for your heirs. Introduction: Navigating the Complexities of RSUs in Estate Planning Restr

Introduction: When Life Changes, Your Estate Plan Should Too Divorce doesn’t just end a marriage — it reshapes nearly every part of your financial and legal life, including your estate plan. In California, a divorce can automatically revoke or modify certain rights in wills, trusts, and powers of attorney. But many documents require active updates to ensure your assets go where you intend. At Moravec, Varga & Mooney, we regularly counsel clients navigating divorce, remarriage

Short Answer: A no-contest clause in a California will or trust is a provision designed to discourage beneficiaries from contesting the document by threatening disinheritance or loss of inheritance if they file a lawsuit. While enforceable under certain circumstances, the clause only applies if the contest lacks “probable cause.” It’s a powerful tool to deter legal challenges, but it must be carefully drafted to avoid unintended consequences. Introduction: Understanding No-Co

Short Answer: In California, deciding between outright distribution and continuing trusts for estate assets involves balancing simplicity, oversight, creditor protection, and long-term wealth preservation. Outright distributions provide immediate access and are easy to administer, but continuing trusts offer greater protection and oversight, particularly for minors, young adults, and individuals with financial management challenges. Introduction: Outright Distribution or Cont

Short Answer: The Transfer on Death (TOD) Deed allows California property owners to designate beneficiaries for real estate, bypassing probate. While it provides convenience, its rigidity, potential for family disputes, and challenges with Medi-Cal claims necessitate careful consideration. An estate plan with a comprehensive approach, including written instructions, powers of attorney, and up-to-date beneficiary designations, is crucial to ensure smooth asset distribution aft

Short Answer: When you own out-of-state property, it’s essential to address its transfer in your California estate plan. To avoid ancillary probate, create a revocable living trust, coordinate with attorneys in both states, and consider asset protection strategies like LLCs. Proper planning ensures smooth asset management, minimizes tax burdens, and protects your property from unnecessary legal delays. Introduction: Out-of-State Property in California Estate Planning – Why It

As of January 1, 2024, California eliminated asset/resource limits for many non-MAGI (Modified Adjusted Gross Income) Medi-Cal programs, meaning eligibility in those categories no longer depended on how many assets (property, savings, investments) a person had.  However, starting January 1, 2026 , California law is set to reinstate asset limits for these non-MAGI Medi-Cal programs.  According to guidance from the California Department of Health Care Services (DHCS) and advoca