The new year is often the a time to reflect on the role family and friends play in your life, and to resolve to strengthen those relationships in the coming year. For pet owners, the relationship you have with your furry friend is often just as important as those you have with the people closest to you. That’s why the new year is also a good time to create a tool that will protect your pet should something happen to you. In California you can create a trust that is specifically designed to … [Read more...] about Start The Year With a Pet Plan
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Seniors, Retain Your Independence
There is bad news for our nation senior citizens: just because you were independent when you were younger, it doesn’t serve as a guarantee that you’ll remain independent now. Unfortunately, the passage of time can have a detrimental effect upon our ability to care for ourselves; an affect that is made much worse by the sedentary lifestyle with which many seniors greet retirement. If you want remain independent for as long as possible, then heed this advice: Stay physically and mentally … [Read more...] about Seniors, Retain Your Independence
A DIY Power of Attorney is a Bad Idea
In this day and age of “do it yourself,” you might be tempted to believe that if you can change a light fixture without a professional, maybe you can prepare a power of attorney without a professional. Online, you can certainly find plenty of “fill-in-the-blanks” forms, information and expert advice, all making the project seem like an easy, money-saving idea. And, once your power of attorney is complete, you can admire the legal document you prepared. While you’re healthy, the power of … [Read more...] about A DIY Power of Attorney is a Bad Idea
Estate Planning Issues for Second Marriages
Married couples in which one or both of the spouses have been previously married, or where they bring children from previous relationships, often face estate planning questions that are different than those other couples have to answer. Like every marital issue, adequately navigating the estate planning issues you face requires both you and your spouse to be open, honest, and communicative about your desires and your choices. It’s important to remember that each of you has control over your own … [Read more...] about Estate Planning Issues for Second Marriages
Estate Planning for Single Retirees
Despite the prevalence of commercials featuring frolicking senior couples enjoying their golden years together, either on a beach or at an assisted-living facility – which, in the commercials, appears as though it is a fantastic resort where the fun never stops – without a care in the world, the reality is much different. Many retirees are newly single, due to divorce or death, and many have never married, yet these people still needed to have a plan for retirement. With an average lifespan … [Read more...] about Estate Planning for Single Retirees
Deciding When To Take Away The Keys From Mom Or Dad
Now that the holidays are over and you’ve spent time with family and friends, take a moment to consider how your elderly parents were handling things. For some people, it may have been a bit of a shock to learn that your parents have aged since last you saw them, and you may be wondering whether it’s safe to allow them to continue to drive. While people can still drive safely well into their 80s and even 90s, and teenagers are the most likely to be involved in an accident, there are some factors … [Read more...] about Deciding When To Take Away The Keys From Mom Or Dad
3 Questions About Changing Testamentary Trust Terms
Question 1: How do I change the terms of the testamentary trust? When you create a testamentary trust, you write a will or living trust in which you detail the terms under which the testamentary trust will operate after your death. Because they will does not become effective until you die, the testamentary trust does not get created until after you die. So, the only way to change the terms of a testamentary trust is to amend the terms of your last will and testament or your living … [Read more...] about 3 Questions About Changing Testamentary Trust Terms
When a Nursing Home is Out of the Question
For an elderly parent who has lived in the same house for years, or even decades, the idea of having to move to a nursing home or assisted living facility is often something they won’t even entertain. Yet the realities of aging often require an elderly person to make changes to his or her lifestyle in order to live safely in the family home. If you have an aging parent who does not want to move to a nursing home facility yet who nevertheless needs assistance, there are a couple of options you … [Read more...] about When a Nursing Home is Out of the Question
Common Questions About Business Transition Planning
Question 1: What is business transition planning? For the business owner, determining what is the proper time to step away from your business and hand the reins over to someone else is a complicated one to make. A business transition plan will allow you to smoothly transfer authority to the new manager or owner once you have decided to leave. Question 2: How do you determine when to step away? There’s no simple answer to this question. Your business role is an indelible part of who you are. … [Read more...] about Common Questions About Business Transition Planning
Preventing Family Discord With a Personal Property Distribution Letter
When it comes time to distribute your assets to your family after you die, you’ve probably already thought about the big issues if you have created an estate plan. However, you’ll also want to consider the little things, especially items of personal property that may hold family or sentimental value. Family conflicts can arise over disputes about who will inherit personal property. Because personal property isn’t always specified in detail in a person’s last will and testament, it can be useful … [Read more...] about Preventing Family Discord With a Personal Property Distribution Letter
