If you do not yet have an estate plan, you should make 2014 your year to create one. Whether you are a young adult, senior citizen, or anyone in between, you absolutely need an estate plan in place. Having the right plan will not only give you peace of mind, but will afford you and your family significant protections. Yet making a resolution is much different than actually sticking to it. Millions of Americans make resolutions every year to lose weight, save more money, or any number of other … [Read more...] about Your New Year’s Resolution Should be to Make an Estate Plan
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Common Questions About Asset Protection in Sacramento CA
When people hear the term “asset protection,” they usually either know very little about it, or have some idea that it’s what rich people do. While it’s true that wealthy people are more likely to have an asset protection plan, people of moderate means can benefit from them as well. Basically, asset protection is what you do to keep your assets safe from those who would try to take them. This primarily involves protecting your assets from judgment creditors. A judgment creditor is someone who … [Read more...] about Common Questions About Asset Protection in Sacramento CA
California Probate and the Guardian Ad Litem – Common Questions
Some California probate cases involve a guardian ad litem. Unlike a guardian or conservator or, a guardian ad litem serves a specific and temporary role in a probate proceeding. What is a guardian ad litem and what does that person do? Let’s take a look at some commonly asked questions. What is a guardian ad litem? A guardian ad litem is a person appointed by a court to represent the interests of a person who is not able to represent his or her own interests during a legal proceeding. Many cases … [Read more...] about California Probate and the Guardian Ad Litem – Common Questions
The Question of What to do With Personal Property in Your Estate
Whether you have a large or small estate, developing an estate plan is the best way to avoid potential conflicts between your family members that could arise after your death. Regardless of the specific inheritance choices you make, simply making those choices and letting your family know what your wishes are will go a long way in preventing conflicts. One of the best ways to ensure that your family doesn’t end up fighting over what you leave behind is to come up with a plan that specifically … [Read more...] about The Question of What to do With Personal Property in Your Estate
Charitable Gifting in Your Estate [Infographic]
For many people, philanthropy is something that is very important in daily life. If you are one of those people then you likely wish to include charitable gifting in your estate plan as well. Along with fulfilling your personal philanthropic goals, charitable gifting can also provide a number of tax advantages when properly incorporated into your estate plan. Click here to view a larger image. … [Read more...] about Charitable Gifting in Your Estate [Infographic]
Yes, You Need To Update Your Living Trust
If you’ve created a revocable living trust, you shouldn’t make the mistake of ignoring it once it’s finished. A good estate plan is a living estate plan, and one that you need to care for just as you would anything else that needs regular attention. Our lives change. Sometimes they change for the better, sometimes for the worse, but they are never the same from day to day. Of course, your living trust isn’t something you need to update all the time. It’s a fairly flexible document, but that … [Read more...] about Yes, You Need To Update Your Living Trust
Why Your Living Trust Alone is Not a Complete Estate Plan
One feature of the Internet is that a world of information is just a few keystrokes away. Unfortunately, this ease of access to information is also a potential hazard, especially when you rely on incomplete information. Creating an estate plan requires you to have multiple elements, each of which serves a specific purpose. Some who research estate plans on the Internet come to believe that they can, for example, create a complete estate plan simply by creating their own revocable living trust. … [Read more...] about Why Your Living Trust Alone is Not a Complete Estate Plan
Some Practical Concerns When Choosing a Health Care Agent
In California, when you create an Advance Health Care Directive, you will want to select a representative who can make the choices you would make if you weren’t incapacitated. While it is very common to select your spouse or another close family member for this task, there are some practical concerns that may cause you to reevaluate the decision and choose someone else. Decision-Making Ability A health care agent may be required to make some very difficult decisions, especially if you are … [Read more...] about Some Practical Concerns When Choosing a Health Care Agent
Florida Widow’s Probate Problems
Even though she and her husband had been married for 53 years, a Jacksonville, Florida widow has been unable to withdraw the money out of the savings account her husband had with a national bank. Julia Bolena lost her husband about 16 months ago, and ever since has been fighting with the bank to try to recover the money in his savings account. Though the two had a joint checking account with the bank, the savings account was only in Mr. Bolena’s name and he had apparently not named his wife as … [Read more...] about Florida Widow’s Probate Problems
If You Don’t Want to Make an Estate Plan: Think of Your Family
Estate planning is something that many people know about, but far too few actually go about doing. The fact is, making an estate plan is often a very difficult thing to do because it requires you to think about uncomfortable realities and possibilities. If you find yourself having a difficult time getting started with the process, you might want to focus on the potential benefits that estate planning can have for your family. Your Young Children If you are a parent with a minor child, your … [Read more...] about If You Don’t Want to Make an Estate Plan: Think of Your Family
