For people developing an estate plan, it’s important not to forget any intellectual property concerns you might have. Understanding estate planning is about taking a step back, looking at the issues involved, and approaching them piece-by-piece. A good estate plan gives you a roadmap of where you can go in light of your goals and your circumstances. If you have any type of intellectual property, you need to develop a plan that will fit your specific assets. An experienced and qualified estate … [Read more...] about Don’t Forget IP With Your Estate Plan in California
BLOG
You Can Update Your Advance Health Care Directives
Everyone who chooses to make an advance health care directive (AHCD) can also choose to update or modify those directives whenever they like. Making an advance directive is something anyone can do once they reach the age of 18. As long as you are capable of making decisions, you can decide what kinds of medical care you want to refuse or allow should you fall seriously ill or be seriously injured. It’s also important to realize that you can change your mind about your medical choices whenever … [Read more...] about You Can Update Your Advance Health Care Directives
A Few Common Questions About Small Estate Probate in California
Question 1: What is small estate probate? The probate process is the legal process that applies after a California resident has died leaving behind property. That property, called an estate, will have to go through probate before new owners can take possession of the deceased person’s property. (The deceased person is often referred to as a decedent.) When the estate is valued at below a specified dollar amount a less formal set of probate procedures applies, known as small estate … [Read more...] about A Few Common Questions About Small Estate Probate in California
Three Issues Senior Pet Owners Need to Think About
As a pet owner, you know the feelings of joy and satisfaction you get from your animal companion. As an aging senior, however, you also know that there are a lot of things that you used to do that you probably shouldn’t do any more. Senior pet owners have to consider several issues as they age that younger pet owners don’t really need to think about as much. If you are a senior pet owner and have yet to do so, developing a pet plan is an essential piece of being prepared for the future. Issue 1. … [Read more...] about Three Issues Senior Pet Owners Need to Think About
Essential Documents For Every Estate Plan
The best estate plan is one that contains essential documents that meet your individual needs. Developing the right documents for your estate plan is something you can do after consulting with your estate planning attorney and evaluating the choices available to you. Even though the documents you create will likely be the same types of documents that almost everyone creates, these documents need to be specifically tailored to your needs and purposes. Regardless of your goals and circumstances, … [Read more...] about Essential Documents For Every Estate Plan
Clearing Up Confusing Trust Language
The world of estate planning is full of obscure and confusing terms, especially when it comes to trust language. To those who have no background in the field, listening to estate planning attorneys talk about trusts can be like listening to two people from a different planet. The terms lawyers use and the concepts they discuss, though important, are not things that most people have a lot of experience dealing with. To give you a better understanding of trust language and how it applies to you … [Read more...] about Clearing Up Confusing Trust Language
Don’t Count on Medi-Cal For Long-Term Care
The growing number of baby boomers reaching retirement age has caused many people to re-examine their retirement plans in light of long-term care costs. As people age and their needs change, many of them have to go into a nursing home or assisted living environment to receive necessary care and assistance. What many people don’t realize is that the costs associated with such long-term care are usually something they have to pay for out of their own pocket. Unless you are able to qualify for … [Read more...] about Don’t Count on Medi-Cal For Long-Term Care
Multiple, Alternate, and Co-Agents in Powers of Attorney
A lot of estate plans include different types of powers of attorney. While these documents are very useful, there are some practical limitations you should know about before you make a decision about the agent you choose through your power of attorney. Multiple Agents It’s ok to choose more than one agent when you create multiple powers of attorney as long as you realize that each agent should have a particular responsibility. For example, if you create healthcare and financial powers of … [Read more...] about Multiple, Alternate, and Co-Agents in Powers of Attorney
Practical Steps to Take When Dealing With Tangible Personal Property in an Estate
Part of an executor’s job is to account for everything the decedent leaves behind. Many of the items you have to account for, such as investment accounts, real estate, and bank accounts, are very easy to identify and value. One of the harder tasks you may face, however, is categorizing and valuing the mountains of personal property that some people leave behind. Here are some practical concerns you will need to be prepared to deal with when you begin the inventorying and valuation … [Read more...] about Practical Steps to Take When Dealing With Tangible Personal Property in an Estate
Common Questions About Executors and Their Duties
Question 1: What does an executor have to do? Anyone appointed to the position of an executor has to perform a number of tasks as required under the probate code. The executor is responsible for settling a deceased person’s estate, meaning he or she has to find out what the deceased person owned and make sure that it is distributed to new owners and that bona fide creditors are paid. Question 2: What is an estate inventory? One of the executor’s first duties is to marshall and then take an … [Read more...] about Common Questions About Executors and Their Duties
