If you are intending to create or update your estate plan in 2019, congratulations. Unfortunately, for too many, procrastination causes delays in creating much needed plans. one reason for the delay is that estate planning can seem overwhelming and stressful because it’s a whole new “thing” with new lingo and big decisions to be made. As if that weren’t enough, estate planning involves talking about our health, death, incapacity, interpersonal relations, and finances. At this point, you … [Read more...]
Estate Planning Considerations Entering the New Year (part 2 of 2)
When considering creating or updating your estate plan in 2019, you will want to make sure that you consider all of your planning needs. This will ensure that you have a proper plan that will protect you during all of life’s unexpected events. The information below will explain more about your needs. In this second installment about estate planning considerations, we address additional issues often overlooked in many estate plans. If you have any questions about the information below, or if … [Read more...]
Help Your Parents Organize Their Documents and Other Affairs
It can be stressful trying to locate estate planning documents and other important files during a time of upset. It’s important to make sure that your parents have all of their affairs organized as they continue to age. Organization, not only allows them to have information that they may need easily available, it better ensures important documents are available in the event of a crisis. If you have any questions, or if you’d like to get tips on how to help your parents with their estate … [Read more...]
What are the Essential Estate Planning Documents?
A common inquiry from clients is what legal documents do they need to protect themselves and their loved ones in the event of their incapacity or death. These answers can be provided by an experienced and qualified estate planning attorney. Your attorney will have a conversation with you and collect important family, health, financial, goal, and concern information. He or she will then, with your input, design an estate plan that includes several estate planning documents, which are all … [Read more...]
How Can I Determine if I Need a Trust?
Quite often, the popular notion of a trust is that it’s a device used primarily by the wealthy. Trusts are for grandparents who want to leave their grandchildren healthy inheritances so those grandchildren never have to work their entire lives, or so the popular misperception says. But that notion is far from the truth. The reality is that trusts offer almost everyone the ability to take advantage of specific benefits not afforded by other estate planning tools. Whether you have a high net … [Read more...]
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...]
Don’t Fall for These Living Trust Myths
A lot of people who research estate planning come to the conclusion that they need to create a revocable living trust. While a revocable living trust is an excellent estate planning tool to have, it’s also something that can be a little difficult to understand. Further, you might come across some popular myths and misperceptions about living trusts that could get in the way. To help explain living trusts and show you why some of the popular myths are wrong, let us take a look at some common … [Read more...]
If You're Moving, Consider Changing Your Estate Plan
Whether you are new to California or are leaving the state to go somewhere else, you need to take some time to review your estate plan as part of the moving process. Moving to a new state means that there are new laws you may need to consider. This is especially important if you move from a community property state, such as California, to a non-community property state, or vice versa. Here are a few issues you'll need to keep in mind when reviewing your estate plan as part of a move. Spousal … [Read more...]
Three Considerations When Deciding About Amending A Trust
Question 1: Can I change my revocable living trust? What about an irrevocable trust? Anyone who creates a revocable living trust, known as a trustor, can change the terms of that trust at any time as long as he or she is mentally capable. You cannot change the terms of your trust after you die by, for example, dictating the amendment through your last will and testament. Also, if you created the revocable living trust jointly with a spouse, both you and your spouse will have to agree to any … [Read more...]
The Government Will Not Inherit Your Property – 3 Facts About Escheat
There are several myths and misconceptions surrounding estate planning that sometimes pop up. For example, some people believe that the state of California will inherit your property if you don't make a will or create some kind of estate plan. While this is possible, it is very rare. The process through which the state inherits someone's property is called escheat. Let's take a look at it and why it rarely happens. You can choose who inherits your property. In order to pass on your property … [Read more...]
