Parents with minor children are always concerned about their welfare. Part of that concern is who will take care of their children if something happens to them. While you may not want to consider the possibility of your children being without their parents, you can, at least, have the peace of mind that planning ahead can provide. In California, you need to plan ahead for guardianship for your minor children, should anything happen to you. 1. What is guardianship? Guardianship is a legal … [Read more...] about 6 Things You Need to Know about Guardianship
Wills
4 Myths About Wills and Trusts
Estate planning means preparing for possible incapacity and inevitable death. An estate plan can include many different types of documents, including wills and trusts. The variety of tools available will allow for a customized and comprehensive estate plan. There are many benefits to estate planning and there are some myths as well. Here we will dispel 4 common myths about wills and trusts. MYTH #1: Trusts are only for the rich and elderly One common misconception is that, if you are young … [Read more...] about 4 Myths About Wills and Trusts
Isn’t a Trust Just a Glorified Will?
People sometimes assume that a trust is a somewhat glorified legal device that accomplishes the same thing that a will would accomplish. In fact, there are different types of trusts. Trusts can satisfy objectives that a will would not satisfy. Let's look at some of these scenarios. Estate Tax Exposure The federal estate tax is a legacy threat to high net worth families. This tax carries a 40 percent top rate, so we are talking about a very significant level of taxation. The good news is … [Read more...] about Isn’t a Trust Just a Glorified Will?
Are You Sure a Will Is the Best Choice?
If you are a golfer, club selection is very important to you. The use of the proper tool as it were can make all the difference, and this is also true when you are planning your estate. Many people assume that a Will is the best choice if you are not extremely wealthy, but there are many good reasons why you may want to use a living trust instead. Let's look at the facts. Living Trust Advantages A living trust can provide benefits that a Will would not. You have more flexibility with regard to … [Read more...] about Are You Sure a Will Is the Best Choice?
Is a Living Trust Really Better Than a Will?
You may be under the impression that you should use a last will as your primary estate planning tool if you do not consider yourself to be enormously wealthy with a very complex estate. It can be natural to assume that a living trust is just a glorified type of last will that is really not going to provide much of a difference. In reality, there are some very tangible reasons why someone could suggest that a living trust is better than a last will. Let's look at some of the advantages that you … [Read more...] about Is a Living Trust Really Better Than a Will?
Is There a One-Size-Fits-All Estate Plan?
Instant gratification has become the expectation in many cases during our current era, and this is largely due to the emergence of the Internet. Without question, the fact that you can obtain information about anything with the click of a mouse is a very good thing, but there are some pitfalls to avoid. From a commercial perspective, there are many different offers out there. The idea is that you can sidestep the need for professional assistance if you use simple tools that are offered online. … [Read more...] about Is There a One-Size-Fits-All Estate Plan?
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...] about Marriage in the Golden Years
Free Report: What is a Will and How Does It Work in Northern California?
A will, also called a last will and testament, is a specific type of legal documents whereby you can make a number of choices that you cannot make otherwise. Topics covered in this whitepaper include: Creating a Will What They Do Will Property and Probate Modification Click here to read the whole article or download the PDF. … [Read more...] about Free Report: What is a Will and How Does It Work in Northern California?
Free Report: What is a Will and How Does It Work in California?
When you create a will it’s important to understand that your document is not a contract. A will only becomes effective after you die. In order for it to become effective for probate estates in excess of $150,000 your executor, or someone else, will have to commence probate proceedings in a California Superior Court. Topics covered in this report include: Creating a Will What They do Will Property and Probate Modification Click here to read the whole article or download the PDF. … [Read more...] about Free Report: What is a Will and How Does It Work in California?
Your Estate Plan Will Include These 4 Important Tools
Regardless of where you are in life or what you want to accomplish with your estate plan, everyone who creates a plan in California will likely rely on at least four important tools. These tools will protect most of your important interests, and allow you to achieve most of your estate planning goals. Even if you and your attorney decide that you need additional tools to help you, understanding what these four important tools do and how they work can give you a much better understanding of why … [Read more...] about Your Estate Plan Will Include These 4 Important Tools
