What Roles Are Named in A Power of Attorney Document?

If something happens to you, do you have a plan for who will take over managing your finances on your behalf? Does the person you want to hold this responsibility know about it and feel comfortable handling it? Do you know which tasks you’d like them to handle, or when you’d like this power of… Read More »

How To Help Your Loved Ones Prepare to Inherit Sudden Wealth

Doing your estate planning should give you peace of mind that you’ve done everything possible to set your loved ones up for success. But the receipt of a sudden large amount of wealth can cause more questions than originally anticipated, and advanced planning and conversations on your part can make things easier for your loved… Read More »

How To Reduce Estate Taxes 101

While many people will not trigger the federal estate tax, those with substantial wealth should consider working with an estate planning lawyer to help create a strategy. There are ways to keep the planning simple and avoid the threshold to minimize estate taxes. However, for those who will trigger beyond this number, setting up trusts… Read More »

Make Sure Your Estate Plan Matches with Your Life Insurance

Life insurance policies typically pass outside of probate, which means they may get overlooked or neglected in the estate planning process. Life insurance policies help to supplement the existing estate plans you have and may allow for a more streamlined transition of assets. If you have a life insurance policy, there is a strong chance… Read More »

Why Do You Need to Create a Living Will Now?

Planning for what happens if life occurs unexpectedly can give you peace of mind that your wishes will be protected. A comprehensive estate plan is one of the most important steps to covering this aspect of your life. If your life ends unexpectedly, a living will could make things much easier for your loved ones…. Read More »

What Current Trends Should People Know About Business Succession Planning?

Any business owner should engage in the process of business succession planning, but likely has questions about whether or not it’s the right time to sell their company now. Business owners are facing unique challenges in today’s market, but the truth is that business succession planning can be beneficial at any point in time. Some… Read More »

What Is Conservatorship in California?

If someone is unable to take care of their own affairs due to serious health issues, they may need someone else to step in and assist with those tasks. If no estate plan has been created, You may hear the term conservatorship in relation to estate planning. Breaking this down to understand when it applies… Read More »

What to Know about Gifting During Your Lifetime

Many people are curious about whether or not their estate will trigger a federal estate tax, especially as estate taxes may be revisited by legislators in the coming years. Gifting assets over the course of your life can help to reduce the total size of your taxable estate. Each time you make a gift, you… Read More »

When to Use a Special Needs Trust for Your Child 

Trusts are one of the most popular estate planning tools that individuals and families use to protect their interests. A special needs trust is an irrevocable one that allows a disabled child to continue receiving public assistance benefits, such as SSI and Medicaid. In other cases, when a person with special needs owns too many… Read More »

What Are the Main Benefits of Pet Estate Planning? 

While we hope to remain there for our pets throughout their entire lives, unforeseen circumstances can put your furry friends in a difficult situation. In the event of your sudden passing or incapacity, it is critical to have a plan in place that helps provide the support and care your pets need.   Working with… Read More »

Passing On Real Estate: Is Your Plan Ready?

  A new “estate of the industry report” identifies that the most common asset owned by people planning to pass on things to their beneficiaries was real estate. In fact, real estate made up more than 72% of total estate plan assets. This was the third consecutive year that real estate took the number one… Read More »

5 Aspects of Your Retirement/Estate Plan to Evaluate

  There are five major things you should think about as you attempt to coordinate your retirement and estate plan. Well in advance of your retirement date, paying attention to these five core aspects can help you achieve success with the multifaceted process of retirement planning. Step number one is to understand your various income… Read More »

Does Asset Protection Shield Me from Lawsuits?

One of the leading reasons to put together an asset protection plan is to minimize the possibility of lawsuits. However, creating an asset protection trust or using other strategies based on the guidance from your Pasadena estate planning lawyers may not entirely remove lawsuits from the equation. That said, an asset protection trust could discourage… Read More »

Do I Have to Retitle My Real Estate Properties to My Living Trust?

Many tools are available to you as a California resident when it comes to crafting your estate. You may choose to create a living trust to provide for a smooth transition of your assets in the future. One important component of establishing a trust is to ensure that anything placed inside it is properly titled… Read More »

Why Do I Need to Designate Beneficiaries?

Plenty of aspects of estate planning can be addressed in a will or using a tool like a trust, but it is equally important to consider the value of naming beneficiaries. Even if you forget to make a will, designated beneficiaries on certain accounts allows the individuals who receive these assets to bypass probate and… Read More »

Reviewing Your Existing Estate Plan in The New Year

At a minimum, take a look at your estate plan annually. This helps you to do a quick review and to verify that the most basic of information is up to date in case something happens to you. Too many people find that failing to update their plan leaves asset transfer plans or person appointments… Read More »

What Does It Mean to Say That a Will Is Proven?

When a person passes away with a valid will, it must be submitted to probate court in California. This process formally opens estate administration and involves the appointment of the personal representative named in the will.   This formal process involves numerous steps in order for the personal representative to gather all of the assets… Read More »