Gena interviews her friend and mentor Carl Johnston along with Edward Goldkuhl who is an estate attorney. Edward has been an estate planning attorney for twenty years. He talks about how there are opportunities for people to save on taxes and direct their affairs after they pass away. He details how probate works in California.
Recent tax reform in California has brought about a substantial increase of up to twenty million dollars that can be given away tax-free. This is an excellent time to take advantage of trusts and all of the benefits that come with them. It’s likely that this opportunity will not last very long due to government regulation and these changes seem to be unpopular.
Probate is expensive in California, and this is due to specific attorney fees are required by law. This is one reason why trusts are useful because trusts do not die, trusts agreements always specify who inherits the trust.
It’s difficult to find good lawyers; he suggests asking around from other professionals like accountants, other attorneys, and financial planners. They may have experience with good attornies and can make a good recommendation. A good estate lawyer should ask you questions about what you want and why you want it and structure the will or trust accordingly.
States like California can’t file bankruptcy, and some cities and municipalities are going into financial distress. The demographics of the baby boomers are daunting as there aren’t enough people to tax to pay for the costs of this larger generation. The preponderance of liberal politics in California means there is no way out of the current situation.
Talking Points From This Weeks Episode
• Trusts are an excellent way to reduce taxes instead of needing probate.
• A good estate lawyer should ask questions and help you plan for the long-term.
• Probate fees are high due to legal.
• Demographics of the baby boomer generation is causing serious issues with government obligations.
About Our Guest
Edward Goldkuhl can be found on www.goldkuhl.com. They don’t charge for initial consultations as they want to make sure that they are the best fit for an individual’s needs.
Attorney Edward W. Goldkuhl is an expert in estate law and probate matters. As the former host of the weekly radio talk show ‘Family Matters’ on KTKZ News Talk 105.5 FM and 1380 AM, he discussed legal issues that face families and answered questions of the listening audience. Also, Mr. Goldkuhl has been featured on the nationally syndicated ‘Clark Howard’ radio show, assisting Clark and his viewers with their legal questions.
Mr. Goldkuhl’s expertise is recognized throughout the professional and legal community. He has been hired as an expert witness on the estate and trust law for both civil and criminal trials, has served as a judge pro tem for the Sacramento County Superior Court and has been a frequent and acclaimed lecturer on estate and probate law for attorney and certified public accountant professional education seminars. His personal, family oriented and friendly approach to estate law permits clients to form an estate plan uniquely tailored to fulfill their individual family’s needs.
Located in Midtown Sacramento, attorney Edward W. Goldkuhl serves clients from all over the State of California.