Your will is the foundation of your estate plan, as it directs what happens to your property after you pass away. You can also use your will for other goals, such as naming a guardian for your minor children and naming the person who will handle administration of your estate. Although you are not required… Read More »
Blog Posts
Four Ways A California Elder Lawyer Can Help You
Elder law attorneys have experience in many different facets of estate planning law but focus specifically on helping elderly individuals and some of the challenges they may face in the process of aging. Elder law attorneys are often instrumental not just in helping individuals, but with family for exploring the best options for a loved… Read More »
How Does An Elder Lawyer Help With The Estate Planning Process?
Many people are confused or even frustrated by the process of planning and estate in California, still others may believe that they don’t need an estate plan at all. There are many different things to consider, but the possibility of passing on assets to your loved ones is a reality. If you have not yet… Read More »
Do I Need a Living Will and Healthcare Power of Attorney?
Estate planning means thinking about what happens if you’re incapacitated and who will be responsible for carrying out your wishes in possible healthcare emergencies. While these are difficult topics to think about, they are also important. Both a California living will and a healthcare power of attorney can help to guide advanced care planning for… Read More »
Research Shows Most Americans Are Not Prepared For Costs Of Long Term Care
What happens to your finances if you need to stay in a nursing home or other care facility? Most people hope that they’ll never be put in that situation, but it’s important to plan for the possibility nonetheless. The cost of a disabling event or a stay in a long term care facility can catch… Read More »
Do I Need a Durable Power Of Attorney For Finances Created Before Surgery?
Going into surgery raises many questions for plenty of people. If you haven’t yet done your estate planning, this can be a great reminder of the benefit of some basic estate planning documents in place. Consulting with a qualified lawyer is one of the best ways to protect your rights and ensure that you have… Read More »
Why Work Directly with An Attorney on My Estate Plan in California?
It might seem like the easiest possible solution to creating your estate plan is doing it by yourself online. However, this poses a number of problems, such as making mistakes in your estate plan that could render documents invalid. Seemingly simple mistakes might not be discovered until you’ve passed away, leaving your loved ones to… Read More »
What Is a Spendthrift Trust?
There are many reasons why you might wish to establish the use of a trust in your estate plan in California. Consulting with a qualified lawyer is extremely important for creating a trust that is aligned with your individual needs. This is because not all trusts are created equal, and you need to have a… Read More »
If I Pass Away Will My Estate Automatically Pass to My Spouse?
There are many different unique considerations associated with preparing an estate plan in California. Working with the right Pasadena estate planning lawyers can make a big impact on your ability to move forward and to protect your desires in your estate planning purpose. It is not necessarily the case that your spouse will automatically receive… Read More »
Is It Possible to DIY Estate Plan For A Child With Special Needs?
An adult with special needs likely relies on government programs and benefits to cover expenses. These are a crucial financial support system for a person with disabilities that could accidentally be compromised without proper care given to estate planning. Many people have questions around the best way to protect a beneficiary, such as a minor… Read More »
What Is the Difference Between An Irrevocable And A Revocable Beneficiary?
Life insurance policies require that you name at least one person entitled to receive the assets inside the policy when you pass away. This is known as your beneficiary, and it overrides what is stated in your will. This makes it extremely important to think carefully about your named beneficiaries. An irrevocable beneficiary is someone… Read More »
What Is the “Death Tax”?
A death tax is associated with any tax imposed on someone’s property after they pass away. This is a colloquial term that got popular in the 1990s to describe inheritance and estate taxes. In estate taxes the estate belonging to the deceased will pay the tax before the assets are transferred to the beneficiary. However,… Read More »
Assisted Living Costs And How To Discuss Them With Parents
Most aging parents don’t want to think about the possibility of needing assisted living. There may come a time, however, when nursing home care is not required, but the needs of your parents exceed what you and other family members are willing or able to offer. Approximately 70% of people over age 65 will need… Read More »
What Is The Fiduciary Relationship Between A Trustee And Beneficiary?
A trustee is appointed to handle the administration of a trust either while the creator of the trust is still alive, during the time the creator of the trust is incapacitated, or after the trust owner passes away. There are many different scenarios that determine when a trustee must act and there are rules in… Read More »
Who Should Have an Asset Protection Plan?
What happens if someone sues you? Whether it’s for personal reasons like a slip and fall injury on your property or a claim against a business forced as as sole proprietorship, a suit like this can have serious consequences for your future. Taking action only once someone has lodged a suit limits what you can… Read More »
Family Business Succession Planning: Selling or Gifting?
Many family business owners have a vested stake in passing on their company to the next generation within their family. This can be accomplished in two different ways: selling ownership or gifting ownership. A family transition gives the seller of the business liquidity but also can create a taxable event. Gifting the family business, however,… Read More »
Four Ways of Planning for Incapacity
Most people recognize the importance of creating a comprehensive estate plan, but have you thought about incapacity? If you don’t have a plan for what happens to your care if you become unable to manage it on your own, this will fall to the courts and could add stress and delays for your family members…. Read More »
Contemplating Business Succession Planning Ownership Changes
One of the most important steps you need to take in protecting your business is to create a team of trusted advisors. This should be done well in advance of any actual ownership change in your business. You need to contemplate the process of what it looks like to move forward and need outside professionals… Read More »
What Is Crisis Planning in The Estate Planning World?
Estate planning typically requires advanced preparation and thinking about what you might need and what people you might need to help you make decisions in the future. However, there are some circumstances where a crisis emerges and family members spring into action in an attempt to help a loved one or address an urgent issue…. Read More »
What Are the Basic Estate Planning Documents For 18 Year Olds In California?
Whether getting ready to go to college, joining the military, or undertaking a different venture altogether, everyone in California needs an estate plan. Once a child reaches age 18, their parents do not have legal eligibility to make decisions for them anymore. This means that if you have an 18 year old child or a… Read More »
