Even though a lot of people realize that they need some kind of advance health care directive, commonly referred to as living will, they rarely get around to making one. According to survey figures, only about 20% of American adults have created some kind of advance directive. Yet when it comes to these important legal documents your doctor is more than three times as likely to have created one. Studies show that about 64% of physicians have some kind of medical directive. These legal documents … [Read more...] about You Don’t Have a Living Will, But Your Doctor Probably Does
Estate Planning
So You’ve Created a Living Trust: Now What?
Let’s say you’ve taken the time to consult with your estate planning lawyer and have decided that creating a revocable living trust is a good idea for you. You’ve gone to your lawyer’s office, signed the documents, and now have a brand-new trust ready to be used. What next? The next step is to begin transferring your property to the trust. Depending on the type of property you want to transfer, this process can be rather simple or somewhat complicated. Your attorney will tell you what you need … [Read more...] about So You’ve Created a Living Trust: Now What?
What You Need to Know About Special Needs Planning
As a parent who has a child with developmental disabilities, you should know that there are several options available to you to help protect your child should something happen to you. Special needs planning is the term that applies to a range of situations, but most often in cases where a parent has a child with a disability. Here are some of the basics you need to know about this kind of planning. Special Needs Trust Parents with a special needs child can create a special needs trust, a … [Read more...] about What You Need to Know About Special Needs Planning
Understanding Essential Legal Concepts
For a lot of people who visit an estate planning lawyer in the Northern California area, the concepts and ideas your attorney likely takes for granted may be entirely foreign to you. The reality is that most people rarely speak to an attorney, and few people have participated in lawsuits or been accused of crimes. If you are new to legal process, have never spoken to a lawyer before, or are feeling a little lost as you discuss estate planning topics, here are some essential legal issues you will … [Read more...] about Understanding Essential Legal Concepts
Other Housing Options to Consider When Planning for Long Term Care
As an elderly family member continues to age, her needs will change. She may need help around the house; and, at some point, may begin need long term care assistance. While many people consider options such as independent living facilities, nursing homes, and assisted living facilities, there are also other options to consider. Depending upon your loved one’s needs, she may be able to take advantage of other opportunities. Take a look at the information below, to better understand some other … [Read more...] about Other Housing Options to Consider When Planning for Long Term Care
Sick and Old: Boomers Reach Retirement
Even though baby boomers have benefited from growing up during one of the largest industrial expansions in the history of the world, and saw the rise of advanced medical technologies, they are becoming increasingly sick as they reach retirement age. A recent study published in the Journal of the American Medical Association Internal Medicine says that baby boomers, though they’re living longer, are much more prone to chronic diseases such as high blood pressure, diabetes, and high cholesterol … [Read more...] about Sick and Old: Boomers Reach Retirement
When Trusts Protect Against Incapacity
One of the more popular estate planning tools today is the revocable living trust. Even though a lot of people create these trusts to avoid probate, many people don't realize that these devices can also help protect them in the event they become incapacitated. A proper incapacity plan should be a key piece of every comprehensive estate plan. Knowing how your revocable living trust interacts with your incapacity plan is important if you intend to get the most from your estate planning … [Read more...] about When Trusts Protect Against Incapacity
JTWROS And Your Estate Plan
There are some terms you might come across as you develop your estate plan, such as JTWROS, that you should know about before you start making your plan in earnest. A JTWROS, which stands for joint tenancy with the right of survivorship, is a form of property ownership that can offer certain benefits for people interested in avoiding probate. However, this form of property ownership also has some significant negatives that you will need to consider. Always talk to your attorney whenever you have … [Read more...] about JTWROS And Your Estate Plan
Divorce and Estate Planning – 3 Issues
Divorces are hard, and the process can easily overwhelm anyone getting divorced. But it’s important to remember during this difficult time that you will definitely need to speak to your estate planning lawyer about how you will need to change your plan after you finalize your divorce. Just as with any other significant change in your life, you will need to revise your estate plan soon after you get divorced. You created a plan that matched to your needs as a married person, and now that you are … [Read more...] about Divorce and Estate Planning – 3 Issues
Simple Estate Litigation Prevention Measures
Estate litigation is something every estate plan should try to prevent whenever possible. Litigation can deplete your estate of money, lead to unnecessary delays in transferring inheritances, and involve disagreements that destroy relationships between family members. An estate plan that keeps the possibility of estate litigation in mind, and one that does everything it can to reduce the risk of such conflicts from arising, is something you should consider on as you go through the planning … [Read more...] about Simple Estate Litigation Prevention Measures
