If you’re beginning to think about your estate planning needs, you’re probably considering hiring an estate planning attorney. You’re on the right track; hiring an experienced and qualified estate planning is highly recommended and will pay off handsomely. However, you may have some confusion as to what exactly an estate planning attorney does or how he or she can help you. Take a look at the following information. If you have any questions, or if you’d like to begin your estate planning, … [Read more...]
Probate Basics: Some Considerations
Question 1: What is Probate?Probate is legal process through which a deceased person’s property must proceed before a new legal owner can be identified. Probate is designed to evaluate what a deceased person owned, as well as what kind of debts the person had. The property the person owned is used to pay off the debts, and anything left over is distributed to his or her inheritors.Question 2: Does all a Person’s Property go Through Probate?No. Some property is specifically exempt from … [Read more...]
Your Living Trust – What if You Want to Change it?
Revocable living trusts are one of the best estate planning tools available to most people. These trusts allow you great flexibility in not only selecting who receives your property after you die, but also in avoiding probate and reducing potential estate tax issues. However, there are specific laws which apply to creating and using a revocable living trust, and if you want to make changes to the trust after you make it, you must be sure to do so properly. Here's what you need to … [Read more...]
A Recipe You Don't Want: The Silent Estate Plan
If there is one lesson everyone should take away about estate planning it is this: you need to do more than remain silent. Estate planning is, at its core, making choices and setting them down on paper. When you don't make any choices or, even worse, make the choice and assume that your wishes will be followed, you're going to have a bad time. Here are three reasons why remaining silent is not a good option when making a plan.Reason 1. California has already chosen who will inherit your … [Read more...]
Religious Values and Estate Planning
While estate planning attorneys are experts in advising clients on how to create an estate plan that fits their needs, there is one part of that equation the attorney is unable to answer. You are the only person who can tell your attorney what your religious values are and how important it is to you to reflect those values in your estate plan. Here are three tips you can use to help you decide what role your religious values should play as you create your estate plan.Tip 1: Consider your … [Read more...]
Good Estate Planning Advice Pays for Itself
When beginning to think about your estate plan needs, it’s important to get proper legal representation. You likely want to make sure that you’re able to have the best plan possible. Don’t guess your way through this important planning process. Take a look at the following information, to learn more. If you have any questions, or if you’d like to create an estate plan, contact an experienced and qualified estate planning attorney.Would you accept legal advice from anyone? Would you use … [Read more...]
Special Needs Children Need Special Planning
Think about all the details you know about your child and his or her life. As the parent of a child with special needs, there are some things that only you know. And, if you weren’t there, that information would be lost. What impact would that have on your child’s life?A care plan can ensure that all the important information about your child, down to the smallest detail, is communicated to his or her guardian or trustee. Often done in the form of a Letter of Intent, a care plan is simply a … [Read more...]
Things to Consider Before Deciding To Do Your Estate Plan on Your Own
Many folks have joined the “Do it Yourself” (“DIY”) movement. The thinking is why pay someone to do something that can just as easily be done on your own?For some tasks, like painting your home or adding a deck, with a little education and the right tools, you may be able to do a decent job and save a few bucks.Even if you mess up, in many cases, you may be able to fix the problem, or, if beyond your skill level bring in an expert to fix the problem. In any event, you will typically be … [Read more...]
5 Benefits of Estate Planning
Many people choose to put off estate planning because they feel it is not a necessity until a later time in life. The truth is, everyone needs to have an estate plan in place. This will help to prepare for the unexpected. Below are 5 of the benefits of having an estate plan. To commence your planning, schedule a meeting with an experienced and qualified estate planning attorney today.Give you and your family peace of mind. With a plan in place, you and your family members will be able to … [Read more...]
Choosing an Estate Planning Attorney
Creating a comprehensive estate plan is one of the most important things you will do during your lifetime. When done properly, your estate plan will ensure that your loved ones are well provided for in the event of your untimely death as well as distribute your assets pursuant to your wishes. If not executed properly, it can wreak havoc with your finances and fail to provide the protection for your loved ones that it was intended to do. Given the importance of your estate plan, the first step in … [Read more...]
