When asked if they are going to disinherit their children, most folks reply, “Of course not.” However, many of them do, unintentionally. The Perils of a Blended Family Unfortunately, the unintentional disinheritance of children happens every day. It usually happens in blended families, which are comprised of second, third, or even forth marriages and children from previous relationships. No matter what promises are made or understandings are had, a spouse that is not the parent of all … [Read more...] about How Not to Unintentionally Disinherit Your Children
Wills
Why a Will Isn’t the Only Document You Need (part 2 of 2)
When beginning to think about your estate planning needs, you may decide to execute a will. A will can allow you to achieve a number of goals. However, it likely won’t allow you to handle all of your estate planning affairs unless you have a simple and modest estate. Take a look at the following information, to learn more. If you have any questions about the use of a will, contact an experienced and qualified estate planning attorney. You can’t control all asset distribution. It’s … [Read more...] about Why a Will Isn’t the Only Document You Need (part 2 of 2)
Why A Will Isn’t the Only Document You Need (part 1 of 2)
If you’re thinking about getting a will, know that it may not be your best option. A will allows you to have control over future decisions. However, you should know that it’s important to consider other planning techniques, in addition. A will is not the only planning tool that you need. Take a look at the following information, to learn more. If you have any questions, contact an estate planning attorney. You can’t plan for incapacity. Your will is only effective after you die, … [Read more...] about Why A Will Isn’t the Only Document You Need (part 1 of 2)
Where Do It Yourself = Do It Wrong
An estate plan is an important part of one’s plan for the future. Many realize that they need the assistance of an experienced and qualified attorney to assist them in their efforts. Unfortunately, some folks will cut corners in their estate planning efforts in an effort to save a few bucks or because they think they are as smart as or smarter than their estate planning lawyer when it comes to drafting documents or both. Even with persons who were prudent enough to have their original plans … [Read more...] about Where Do It Yourself = Do It Wrong
What Can I Do to Prevent My Beneficiaries from Contesting My Will?
For most people, reducing the likelihood of litigation is a primary factor in the decision to create a Last Will and Testament. If your wishes are clearly stated in your Will, there shouldn’t be anything for your heirs to fight over after you are gone, right? What happens though if someone contests the Will you create? Let's discuss what you can do to prevent your beneficiaries from contesting your Will. What Is a Will Contest? After your death, your estate will likely need to go through the … [Read more...] about What Can I Do to Prevent My Beneficiaries from Contesting My Will?
Do I Need an Estate Plan? I’m Not That Old
We are often asked by prospective clients: “Do I need an estate plan?” This is particularly the case for folks under 40 or 50, who just can’t imagine themselves dead or incapacitated. We are also often asked about planning by our clients who have adult children with assets and children of their own. As we all know, we can't and don’t know the future. Should a premature death or disability occur due to an unexpected injury or illness, having an appropriate plan in place will reduce needless … [Read more...] about Do I Need an Estate Plan? I’m Not That Old
5 Questions to Ask Yourself about Your Estate Plan
As you go through life, you need to make sure that you have a valid and comprehensive estate plan in place. An estate plan will allow you to live your life with less stress, and can ensure that your affairs are in order, no matter what. Take a look at the 5 questions below to ask yourself about your estate plan. Do you have a will or trust in place? If you’re just beginning your planning, you may not have a will or trust. These are fundamental planning tools. You can appoint a … [Read more...] about 5 Questions to Ask Yourself about Your Estate Plan
Estate Planning Terminology: Letters of Administration and Letters Testamentary
Letters of administration and letters testamentary are specific types of legal documents that are used in the probate process, the court-based legal process in which property that a deceased person owned is transferred to others. The laws and procedures involved in the issuance of these letters of differ by the type of probate procedure involved. The following discussion discusses California's procedures. The Probate Process: Once a person dies with either a will or no will or trust, someone … [Read more...] about Estate Planning Terminology: Letters of Administration and Letters Testamentary
How to Choose Trustees, Guardians and Agents
Part of the task of estate planning or updating an estate plan is to select trusted persons or entities to fill the positions of trustees, guardians, power of attorney agents, health care agents and executors. In order to make good decisions, you need to know the ideal characteristics of each role. Trustee of trust for minors. The trustee of the trust for your minor children or grandchildren will likely be the same as your settlement trustee. If you have the children joining as a … [Read more...] about How to Choose Trustees, Guardians and Agents
Your Proof of Identity and Your Estate Plan: What’s the Connection? Also Your Driver’s License My Restrict Your Travel Plans
An essential part of creating a comprehensive estate plan is the execution, that is, signing, of the plan documents. While the execution of some documents, such as Wills, must be witnessed by two witnesses, most documents must be notarized. These include Trusts, Powers of Attorney, certain Assignment forms and Deeds. What does notarization entail? It means signing the documents before a Notary Public commissioned by the State of California. We have such notaries on our … [Read more...] about Your Proof of Identity and Your Estate Plan: What’s the Connection? Also Your Driver’s License My Restrict Your Travel Plans
