Most people recognize the need to have an estate plan in place; yet, surveys indicate that over half of all Americans don’t have one. Numerous reasons are offered for the seeming incongruity, including the simple fact that estate planning can be intimidating to the uninitiated. When should you start planning? How do you get started? What documents are the most important? At the Northern California Center for Estate Planning & Elder Law, we offer suggestions and information that may help you … [Read more...] about Estate Planning Basics — Getting Your Plan Started
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Why Is Probate Avoidance Such a Common Goal?
Creating a successful estate plan requires you to think about much more than just how you want your estate assets to be distributed when you are gone. Precisely which additional estate planning goal and objectives you decide to incorporate into your comprehensive estate plan will depend on numerous factors; however, one common estate planning goal is probate avoidance. Why is it so desirable to avoid probate though? To help answer that question, we explain the probate process and why many people … [Read more...] about Why Is Probate Avoidance Such a Common Goal?
6 Important Estate Planning Considerations – Part 2: Long-Term Care
Many considerations must be addressed in an estate plan, not just who gets whatever’s left after your death. Long-Term Care expenses are an ever-increasing concern. Your estate plan should consider how those expenses would get paid. This article by my friend and estate planning expert Steve Hartnett looks at several ways to plan for those expenses. 6 Important Estate Planning Considerations – Part 2: Long-Term Care … [Read more...] about 6 Important Estate Planning Considerations – Part 2: Long-Term Care
6 Important Estate Planning Considerations – Part 1: Incapacity
One of the most important considerations in an estate plan is incapacity planning. This article by my friend and estate planning expert Steve Hartnett describes how an estate plan provides incapacity planning and the documents which may be used to accomplish that planning. It also looks at how having a plan in place may relieve stress during an emergency. 6 Important Estate Planning Considerations – Part 1: Incapacity … [Read more...] about 6 Important Estate Planning Considerations – Part 1: Incapacity
A Will or a Trust – Which One Should I Choose?
Certainly everyone is familiar with the estate planning terms "will" and "trust," but not everyone understands the differences between the two estate planning tools. Wills and living trusts are both useful estate planning instruments that serve very different purposes. Despite their dissimilarities, both can work together to create a comprehensive estate plan. Just ask our Sacramento probate attorney how it works. Wills and living trusts are needed for estate planning Regardless of how old you … [Read more...] about A Will or a Trust – Which One Should I Choose?
Former First Lady Barbara Bush’s Death Brings End of Life Care into Spotlight
The American people lost one of its icons recently with the passing of former First Lady Barbara Bush. Not only was she the wife of a former President of the United States, but the mother of one as well. Her choice to accept only “comfort care” at the end of her own life put the bigger debate surrounding end of life health care decisions in the national spotlight. Whatever your own personal beliefs are regarding end of life care, the national debate surrounding comfort care is a reminder that … [Read more...] about Former First Lady Barbara Bush’s Death Brings End of Life Care into Spotlight
Retirement: It’s not Just About the Money
Many factors go into retirement decisions. This article by my friend and colleague Steve Hartnett examines some of those factors. Being financially prepared is one aspect. Having your estate planning in order is another. But, being socially and psychologically ready for retirement are yet other aspects which people often don’t consider. Be ready for your next phase of life, this article will help you get there. Retirement: It’s not Just About the Money … [Read more...] about Retirement: It’s not Just About the Money
Veterans: Are You Getting All Your Benefits?
The freedoms, benefits, and quality of life enjoyed by everyone living in the United States would not be possible without the sacrifice of every veteran, surviving spouse, and family member of those who served in the Armed Forces. Although there is no way to every adequately repay those who have sacrificed for our country, the government does provide a number of benefits to veterans, surviving spouses, and dependents. Navigating the eligibility guidelines and application procedures for many of … [Read more...] about Veterans: Are You Getting All Your Benefits?
Helping Pay for the Grandkid’s Education
With the high costs of college these days, another frequent inquiry we get from clients with grandchildren is how to set aside funds for a grandchild's education. A commonly overlooked planning option is the Education Savings Account authorized by Internal Revenue Code Section 529. Often referred to as a “529 account”, this planning option permits you to reduce your taxable estate while earmarking funds for the higher education of a grandchild or any other family member, for that matter. Funds … [Read more...] about Helping Pay for the Grandkid’s Education
Hey Mom and Dad: Can You Help Me with My Down Payment? (Part I)
This is a common inquiry made by our clients with young adult children who are seeking to buy their first home. Gone for most first time buyer are the days of loose loan underwriting standards that lead, in part, to the collapse of the real estate market in the last decade. Most lenders now require sizeable down payments and good credit to obtain secured home loans. A common source of down payment money is the young buyer’s parents. There are typically two ways that such funds are provided … [Read more...] about Hey Mom and Dad: Can You Help Me with My Down Payment? (Part I)
