It’s important to have a plan. If you don’t have a plan, your state law dictates who gets your property and makes decisions for you. Read the following post by my friend and colleague Steve Hartnett, an estate planning expert, to learn more about a heart-breaking story of someone who didn’t plan and the consequences. Planning is Critical … [Read more...] about Planning is Critical
BLOG
Making Trusts More Flexible
Trusts can be drafted to be quite flexible. This article by my friend and colleague Steve Hartnett, an estate planning expert, examines several ways you can add flexibility to your trust. This added flexibility will increase the usefulness of your trust. Making Trusts More Flexible … [Read more...] about Making Trusts More Flexible
Trust Protectors Add Flexibility
Trusts can be drafted to be quite flexible. This article by my friend and colleague Steve Hartnett, an estate planning expert, examines how Trust Protectors can add flexibility to your trust. This added flexibility can increase the usefulness of your trust. Trust Protectors Add Flexibility … [Read more...] about Trust Protectors Add Flexibility
What Is the Community Spouse Resource Allowance?
Despite the fact that you likely want to remain in your own home, the reality is that there may come a time when you need the type of care that can only be provided by a long-term care facility. If that time comes, you may need to turn to Medi-Cal for help paying your long-term care (LTC) bill. One of your concerns about turning to Medi-Cal for help may be the perceived impact relying on Medi-Cal will have on your spouse who plans to remain in the community. To alleviate those concerns, we will … [Read more...] about What Is the Community Spouse Resource Allowance?
How to Choose Your Child’s Guardian (Part 2 of 2)
Choosing a guardian for your children is uncomfortable, but it’s better than the alternatives and it’s part of the Estate Planning process. What if Your Child’s Guardians Gets Divorced? You can indicate in your Will who you want to serve as your child’s guardian and include who shall continue to serve as guardian, if a couple named as guardians gets divorced. Characteristics of a Good Guardian No one will raise your children exactly as you would, but if you choose the right guardians … [Read more...] about How to Choose Your Child’s Guardian (Part 2 of 2)
How to Choose Your Child’s Guardian (Part 1 of 2)
If you don’t nominate your child’s guardian and a tragedy strikes your family, the court will and it may not be whom you would choose. In fact, it may be your alcoholic brother, Mike, crazy Aunt Mable, or the foster care system. Choosing a guardian for your children is uncomfortable, but it’s better than the alternatives and part of the Estate Planning process. Where You Appoint a Guardian You nominate a guardian for your minor children in your Will. That is true even if you have an … [Read more...] about How to Choose Your Child’s Guardian (Part 1 of 2)
What Happens After You Die…With or Without an Estate Plan (part 2 of 2)
You may be wondering how your affairs will be handled after your death, whether you have an estate plan in place, or not. Take a look at some of the information below, to better understand how your affairs will be handled if you do indeed have a plan. Part 1 of this 2 part article discusses what happens if you do NOT have an estate plan in place. With an estate plan… If you only have a will in place, your affairs will likely still have to go through the probate process. This is … [Read more...] about What Happens After You Die…With or Without an Estate Plan (part 2 of 2)
What Happens After You Die…With or Without an Estate Plan (part 1 of 2)
Whether taking the time to create an estate plan or not, many people wonder how their affairs will be handled after they die. This is a completely natural thing to think about. It’s important to have some idea of how affairs are handled, so that you understand the power of estate planning. Take a look at some of the information below, to better understand how your affairs will be handled. If you have any questions, or if you’d like to create an estate plan, contact a qualified, … [Read more...] about What Happens After You Die…With or Without an Estate Plan (part 1 of 2)
How to Choose the Right Trustee
Creating a successful estate plan requires you to make a number of important decisions. If you elect to incorporate a trust into your comprehensive estate plan, one of those decisions will involve the appointment of a Trustee for your trust. Because naming the wrong person as Trustee is among the most common causes of a trust failing, it is imperative that you take your time and choose the right person for the position. Here are some tips to ensure that your Trustee is the right person for the … [Read more...] about How to Choose the Right Trustee
Can a Beneficiary Get Rid of a Trustee?
If you are a beneficiary of a trust it means that you are entitled to benefit from the assets held by the trust. It also means you have a number of important rights as a beneficiary. If you are concerned about the manner in which the Trustee is administering the trust, you may be wondering if your rights include the ability to remove the Trustee. In this blog, we will discuss when and how a beneficiary may be able to remove a Trustee. Reasons to Remove a Trustee The overall job of a Trustee is … [Read more...] about Can a Beneficiary Get Rid of a Trustee?
