A business succession plan is a key component for determining what happens to your company after you choose to exit the company during your lifetime or after you pass away. Working with a qualified and knowledgeable estate planning attorney is one of the best ways to incorporate your business considerations and to ensure that you… Read More »
Blog Posts
Americans Recognize the Impact of Inflation on Estate Planning
Many people put off creating an estate plan or even putting together a simple will. This can be a big mistake when it comes time for your beneficiaries to receive assets from your probate and non-probate estate, but changing economic circumstances in America are prompting more people to think about the estate planning process. Inflation,… Read More »
What Happens If a Financial Power of Attorney Agent and Advanced Healthcare Directive Agent Do Not Agree?
An advanced health care directive and a financial power of attorney are two cornerstones of a solid estate plan. These allow you to name other people to make decisions on your behalf if you are incapacitated and unable to do so. These individuals will likely need to coordinate your medical care, so it’s important to… Read More »
How Do Retirement Accounts and Life Insurance Policies Get Distributed to Heirs?
When you set up retirement accounts or open a life insurance policy, those account managers will send you a beneficiary designation form. The purpose of this is to allow you to name who want to receive those assets if something happens to you. You might have previously tried to name this in your will, but… Read More »
Study Shows Women Have Less Savings than Men, But Better Habits with Their 401(k)s
Is your 401(k) an important part of your retirement plan? Is your 401(k) something you intend to pass on to future generations through estate planning? Women are doing better than men in almost every single way except for their account balances when looking at 401(k) data across the board. A recent study completed by Vanguard… Read More »
How Much Does a Funeral Cost In 2023?
When looking ahead to plan for your estate, you may have questions about when it makes sense to pre purchase funeral or burial plans. Leaving family members to pick up the tab adds additional stress for them during what might already be a difficult time. Many people underestimate the potential expenses of a funeral. Prepaying… Read More »
Business Succession: What Can Premarital Agreements Cover?
While premarital agreements typically come up in the context of family law, they also have an influence in your estate or business planning as well. Working with a legal team who understands the intersection of these complex laws is important to confirm that you’ve done everything you can to explore and protect against risks. A… Read More »
The Importance of Being Honest with Your Partner About Finances for Estate Planning Purposes
There are many benefits to having frank and honest conversations with your spouse or partner about your financial situation. When everyone is on the same page about assets, liabilities, and financial goals, it’s much easier to navigate life together. One term known as financial infidelity refers to keeping secrets or lying about money from someone… Read More »
Do You Want to Include Philanthropic Goals in Your Estate Plan?
Many people support charities throughout their life, either with one-time gifts or recurring contributions. You might wish to continue that practice when you pass away by gifting a portion of your estate to a cause you care about deeply. Philanthropic giving allows you to leave a legacy behind and support something that is important to… Read More »
Can I Use My Roth IRA as An Estate Planning Tool?
There are many different estate planning tools and strategies available to you. Working with a qualified estate planning lawyer is one of the best ways to review all assets inside your estate plan, as well as those that may pass outside of traditional probate. One such estate planning asset is a Roth IRA. This does… Read More »
What Are the Most Popular Estate Planning Documents to Consider?
As you create your estate plan, it is important to have a good handle on all of your assets and liabilities as well as the personal goals you have surrounding the transfer of those assets to your loved ones in the future. Defining your own goals and what’s most important to you over the course… Read More »
Study Finds Millions of Americans May Face Assisted Living Crisis in The Next Decade
Have you structured your estate plan to consider the possibility that you may need assisted living or long-term care in the future? Many older adults will require long term care at some point in the future, whether that is to recover from an injury or surgery or permanently. It can be very difficult to make… Read More »
What Does it Mean to Title Something to a Trust?
A trust is an excellent estate planning tool when you’ve selected the right vehicle and funded the trust. In order to fund your California trust, assets you want managed by it must be retitled into the trust. If you establish a trust with the help of a knowledgeable estate planning attorney as part of your… Read More »
What Role Does Timing Play in Making a Financial Gift?
Making a gift to someone is a worthwhile consideration as part of your estate plan, but there are numerous factors to be evaluated and discussed in advance. For example, the question of “when?” is often the most important one you can address with your estate planning attorney. There may be benefits to making a gift… Read More »
How Is Beneficiary Designation Different from a Will?
In your estate planning process, you need to think about items that will transfer through your will in probate and those that pass outside of it. Most people assume that a will covers all of their needs in an estate plan, but it can be a big mistake to believe that. Your will doesn’t incorporate… Read More »
Couldn’t I Just Use a Downloadable Power of Attorney Form?
If you already recognize the benefits of establishing a power of attorney, you may assume that the simplest route to complete it is downloading a form from the internet. A power of attorney appoints another person, referred to as an agent, to take on specific responsibilities or general duties based on how you outline the… Read More »
Estate Plan Strategies to Consider When You Add New Assets
When you add or dispose of certain assets, this may require an update in your estate plan. This includes opening a new investment account, selling property, or acquiring new property. In a thorough estate plan, all of these assets should be incorporated with a transfer through your probate estate, or through other estate planning strategies… Read More »
When Was the Last Time You Reviewed the Legal Status of Your California Home Title?
Anyone who owns real property in California needs to think about the most appropriate avenue for passing this on to future generations. Many individuals consider using a tool like a living trust to ensure that the property goes to the chosen beneficiary through an estate plan. The primary goal of leveraging a living trust for… Read More »
When Tradition Just Doesn’t Work for Estate Planning Purposes
You may be familiar with estate planning because a loved one failed to do it, or because you’ve heard that it is common to frequently give most or all of your estate to the oldest child. Doing things because you think you need to do them in your estate could prove problematic down the road…. Read More »
What To Know About Possible Beneficiary Conflicts Before Creating Your Estate Plan
It’s not easy to create an estate plan because it is hard to think about your own morbidity, but it can also be challenging to think about your unique family dynamics. When naming people, such as executors or trustees in your estate plan, you also need to be sure that they’re capable of effectively carrying… Read More »
