In California, a “conservator of the person” is the individual who makes general welfare, health care, educational, and life-style decisions for an incapacitated adult. An adult may become incapacitated due to dementia, disease, or disorder. In some other states, this person is called a guardian. However, as noted below, in California, a guardian is the person appointed in connection with a minor (under 18) child. Examples of decisions would be where someone lives and what medical … [Read more...]
13 Disturbing Estate Planning Problems
Each of these 13 disturbing estate planning facts is true; but, each situation can be avoided with a strong, individualized, comprehensive, and up-to-date estate plan. If you don’t name a guardian in your will, your minor children could end up with persons you either don't like or don't know. If you don’t provide for your pet in your estate plan, your pet may be euthanized when you die. If you put assets in joint tenancy with a second spouse, your children may be disinherited. If … [Read more...]
Differences Between a “Conservator” and a “Guardian”
The terms conservator and guardian vary in their usage from state to state. In California, they have specific and different meanings. Let's explore them. A “conservator of the person” is the individual who makes general welfare, health care, educational, and life-style decisions for an incapacitated adult. An adult may become incapacitated due to dementia, disease, or disorder. Examples of decisions would be where someone lives and what medical treatment he or she receives. In … [Read more...]
Estate Planning Considerations Entering the New Year (part 1 of 2)
As we approach the New Year, many folks include among their resolutions creating or updating their estate plans. What is often not appreciated are the number of issues that should be considered and addressed in one's estate plan. It’s important to take time to handle these issues so that you’re protected throughout your lifetime as well as after you die. Many people don’t take the time to fully think about their individual estate planning needs. Take a look at the information below to … [Read more...]
How is a Durable Power of Attorney Different from a Living Trust?
When it comes to estate planning, there are so many beneficial options, depending on what you need to accomplish. A durable power of attorney is a common tool. So is a living trust. So, what is the difference and how do you know which one you need for your estate planning. What is the definition of a Durable Power of Attorney? A power of attorney is a flexible estate planning tool that allows you to choose someone who will handle all or part of your personal affairs, including making health … [Read more...]
Using Powers of Attorney in California: Questions and Answers
Using Powers of Attorney in California: Questions and Answers from Timothy Murphy Powers of attorney give someone else the ability to represent your interests or make decisions on your behalf. Learn more about powers of attorney in California in this presentation. … [Read more...]
What Is a Northern California Durable Power of Attorney
What Is a Northern California Durable Power of Attorney from Timothy Murphy When a general power of attorney has been granted, the agent has sweeping power The agent could act on behalf of the grantor in a comprehensive manner. Durable powers of attorney are used for incapacity planning purposes. Learn more about Northern California durable power of Attorney in this presentation. … [Read more...]
Your Northern California Will: What You Need to Know and What They Do
Your Northern California Will: What You Need to Know and What They Do from Timothy Murphy Everyone who makes a will gets to decide how they want to leave their property after they die In general, you cannot “disinherit” a spouse, but you are under no other legal obligation to leave property to anyone else, including your children. Learn more about Your Northern California Will in this presentation. … [Read more...]
Free Report: Northern California Powers of Attorney and Your Estate Plan
To create a power of attorney you have to be a capable adult of sound mind. You are never under any legal obligation to create a principal—agent relationship, nor do you have to accept the offer to serve as someone’s agent. Topics covered in this report include: Principals and Agents Attorneys in Powers of Attorney Types of Powers Using Powers of Attorney Correctly Click here to read the whole article or download the PDF. … [Read more...]
Marriage in the Golden Years
As we live longer, a marriage later in life is becoming more common with our aging society. That means changes to your estate plan are more crucial than ever. It also means the likelihood of new family members, from adult children to grandchildren and sometimes even great grandchildren. Social Security Benefits There are a number of dynamics that potentially play out when it comes to your social security benefits. Even if you’ve carefully prepared, you now have to consider more than just … [Read more...]
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