If you have spent a lifetime building up what you consider to be your legacy for future generations, be sure to protect it by creating a thorough legacy plan. Although the wealth you have accumulated during your lifetime is certainly part of your legacy, your legacy may also include the ideals and principles that you have lived by during your lifetime. These are the things that make up your legacy and need to be reflected in your legacy plan. Think of a legacy plan as a continuation of your … [Read more...] about Estate Planning vs. Legacy Planning
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Estate Planning: It’s Not Just all About Death
Some folks want to avoid estate planning because they associate it with death. However, estate planning is NOT just about death. In fact, good estate planning is focused on life, including retirement planning, college planning, gifting programs, charitable planning, asset ownership, asset protection, disability protection, and tax strategies. An experienced and qualified estate planning attorney can design a comprehensive estate plan that protects you and your family, while you’re alive … [Read more...] about Estate Planning: It’s Not Just all About Death
Why You Need Incapacity Planning as Well as Estate Planning
When you’re healthy, it’s hard to imagine being unhealthy. But it happens; in fact, if you’re in your thirties or forties, you are three times more likely to become incapacitated in any one year than to die. Incapacity refers to the inability to provide informed consent for medical decisions; it also refers to the inability to manage your finances and make day-to-day personal business decisions. Incapacity can be caused by a car accident, work accident, medicine overdose, stroke, head … [Read more...] about Why You Need Incapacity Planning as Well as Estate Planning
What Happens When Someone Dies Without a Will or Trust?
Dying without a will or trust is called dying “intestate;” and, the intestacy laws of your state of residence, at your death, will determine who inherits from you and in what percentages. If you die with a well constructed and comprehensive will or trust plan, you get to decide who benefits from your estate. Typically, state intestacy laws don’t match decedents’ wishes. Furthermore, if you die with assets in more than one state, especially real estate, your assets would be subject to two … [Read more...] about What Happens When Someone Dies Without a Will or Trust?
Is My Mother’s Deathbed Will Valid?
The death of a parent, no matter how old you are, is never easy to accept. If you recently lost your mother, you are undoubtedly dealing with the grief that follows such a loss. At the same time, you may be forced to address some of the practical and legal issues that follow a death as well. Among the most important of those is probating your mother’s estate. Typically, probate is initiated by submitting the decedent’s Will to the appropriate court. If your mother attempted to make a deathbed … [Read more...] about Is My Mother’s Deathbed Will Valid?
What Do I Do with My Estate Plan When It’s Complete?
Creating a well thought out estate plan is the first step toward ensuring that your loved ones will be secure after you are gone. For you plan to work as anticipated though, the individual documents that make up the plan must be accessible and work as intended. To help you keep your estate plan safe and ready when needed, let's explore what to do with your estate plan when it’s complete. What’s In Your Estate Plan? Of course, no two estate plans are identical because people have unique needs … [Read more...] about What Do I Do with My Estate Plan When It’s Complete?
Estates that Earned a Fortune in 2019
When the need for comprehensive estate planning comes up, the discussion typically focuses on the importance of deciding how your estate is distributed shortly after your death. For some people, however, careful estate planning also helps determine how lucrative their estate continues to be long after they are gone. Consider, for example, the following estates that earned a fortune in 2019, brought to you by a Sacramento estate planning attorney at the Northern California Center for Estate … [Read more...] about Estates that Earned a Fortune in 2019
How Will You Age in Place and Be Able to Die at Home?
More and more, Americans are choosing to be cared for and are dying in their own homes. If you wish to be cared for and die in your own home, it’s especially important to have a plan in place to facilitate that choice. Read this piece by my friend and colleague Steve Hartnett, an estate planning expert, to learn more. How Will You Age in Place and Be Able to Die at Home? … [Read more...] about How Will You Age in Place and Be Able to Die at Home?
Dividing Your Estate Unequally among Your Children
If you are the parent of more than one child, you have undoubtedly made a concerted effort to treat your children equally and not play favorites. You may feel the need to do the same thing when it comes time to think about how to distribute your estate. When your children are minors, your estate plan will likely rely on a trust to protect the assets intended for them. When your children are young, there are no extenuating circumstances to consider which makes decisions regarding the distribution … [Read more...] about Dividing Your Estate Unequally among Your Children
Estate Planning for Blended Families: A Necessity
With over half of all marriages in America ending in divorce, it is no surprise that the number of blended families has also steadily increased over the past few decades. If you are one of those people whose is planning to remarry in the near future, you are likely concerned about how to create a successful blended family. Often, the partners in a blended family bring with them children from previous relationships as well as assets and debts. Discussing your financial strategy with your future … [Read more...] about Estate Planning for Blended Families: A Necessity
