Plenty of owners with decades of service in their business have simply closed up their company and walked into retirement. However, small businesses could be eligible to transfer on the company to key employees or even to future generations through the process of succession planning. Closing up the business doesn’t have to be the only… Read More »
Blog Posts
Lifetime Gift Strategies You Can Use In The Estate Planning Process
Significant amounts of wealth will be passed on in the coming decades as baby boomers get older. When thinking about your own transfer of wealth, it’s easy to become overwhelmed with all of the options for lifetime gifting. There are many different strategies that can help you approach your unique concerns while also easing your… Read More »
Divorced Women Report Higher Levels Of Financial Confidence
Heading the financial reset button after getting a divorce in your older years can be difficult. Divorced women have many different financial and estate planning considerations that must be evaluated as soon as possible after they’ve moved through a divorce. Studies have found a co-relation between an increase in financial confidence and the length of… Read More »
What Do I Really Need to Tell My Elder Law Lawyer in California?
Honesty is always the best policy when sitting down with an attorney, even when it confronts difficult personal situations. These proper and upfront questions and answers are key for good planning. In the event that your California elder law lawyer doesn’t have all the necessary information, your inheritance could end up going to unintended people… Read More »
Retiring Abroad? Don’t Make These Mistakes
More than ever, people are attracted to the concept of retiring outside of the United States. There are some complications that must be considered before you make the jump, however. According to the Social Security Administration, the number of people retiring abroad has increased significantly in the last decade. It’s expected that more than half… Read More »
Should Long Term Care Insurance Be Part of My Estate Plan?
The primary motivation for most people to invest and save is to give you the appropriate financial resources to support you in retirement. However, looking only ahead at retirement means that you might miss out on important opportunities to plan, such as what might occur in the event that you or your spouse needs long… Read More »
Understanding the Charitable Remainder Trust
Trusts can be set up for your own individual circumstances and for the benefit of your future heirs, but you might also wish to pass assets on to a charity you support. A charitable remainder trust is the most common type of charitable trust. The first stage of this is to sit down with a… Read More »
How to Use an Asset Protection Trust
Trusts are one of the most common tools referenced by people in a variety of different financial situations who wish to provide a greater level of flexibility and control over the assets they place inside. Another common reason to establish a trust is to help to protect the assets inside it from being seized by… Read More »
What Are the Different Types of Trusts in California?
There are many different types of trusts that can be used for estate planning purposes. In this three part series you’ll learn more about some of the most common types of trusts you might consider and how to consult with an experienced Pasadena estate planning lawyer to decide what is right for you. And today’s… Read More »
Do I Really Need A Buy/Sell Agreement for The Purposes of Business Succession Planning?
As a California business owner, you have probably put a lot of blood, sweat and tears into developing your company. It’s equally important to identify who you want to succeed you in the ownership of your business. You must also decide how that individual will step in to receive an ownership business. If that successor… Read More »
Could Your Elderly Loved One Be Exposed to Financial Fraud?
Thinking about the process of aging often sparks many people’s concerns about physical or even mental decline in abilities. However, elder fraud cases are becoming an increasingly common issue across the country. If you have an elderly loved one in California, it’s important to be aware about how they could be targeted for potential elder… Read More »
How You Talked About Estate Planning or Taken the Next Step?
Every year, Caring.com evaluates how people feel about estate planning in the United States and how many of them have taken any necessary steps to be proactive about key estate planning documents. One of the most notable findings from the 2019 study, which involved more than 1,000 adults across the country, is that more half… Read More »
Do I Really Need A Financial Power of Attorney in California?
So you’ve heard that you need to have a financial power of attorney, but you’re not exactly sure how this could benefit you in the state of California. There are many different benefits associated with putting together a financial power of attorney, but it might not yet be clear to you why you should have… Read More »
What Does a Living Trust Really Do for Me?
Are you thinking about putting together a living trust and have already done a little bit of internet research to figure out why a living trust might make more sense for you than an irrevocable trust? Sitting down with a Pasadena estate planning lawyer can help you to walk through the stages of setting up… Read More »
Should I Use A Testamentary Bypass Trust in California?
Are you curious about the different kinds of trusts that you can use in California to pass on assets and to achieve greater control in the estate planning process? You might have concerns about a testamentary bypass trust that can be answered by a Pasadena estate planning attorney. Whether you are a business owner thinking… Read More »
When Does Intra-Family Lending Make Sense with Assets?
Sometimes skipping the challenges and the expenses associated with commercial bank loans can make good sense if someone in your family has the ability to loan you money in the short term. Attempting to make a major family purchase can be difficult for those people who are trying to approach traditional banks. This is why… Read More »
What to Do If You Receive A Substantial Windfall
If you win the billion-dollar lottery or receive some other massive inheritance, there are certainly some steps you can take to protect yourself and avoid some of the mistakes of other people who have received a massive windfall and have lost it all. Some experts in the financial industry recommend that the first thing you… Read More »
Why You Should Always Plan to Exit Your Business
Most people avoid planning their exit from their company because they are under the impression that they will never leave the business, and therefore estate planning is not necessary for the company. Many business owners take natural pride in what they’ve created over the course of the years. Some of them are so excited to… Read More »
What Questions Do You Need to Ask When You’re Handling A Loved Ones’ Estate?
If you’re appointed as the representative of a loved ones’ estate, these responsibilities must be taken seriously, and it could be a good idea to empower yourself with the insight of an experienced probate attorney to guide you through the process. A probate attorney can help explain to you this important role of serving as… Read More »
What Is a California Transfer on Death Account?
A transfer on death account is one type of asset that will pass differently than most others in the probate process. Transfer on death accounts in California can keep your estate planning intact while ensuring that your beneficiaries stay out of court. Approximately 57% of Americans today don’t have a trust or a will, which… Read More »