It’s top of mind for any parent with a child in high school: finding a way to pay for college. But you can actually be much more proactive in planning ahead for your child’s college education using tools like a 529 plan. In addition to other strategies with your estate plan, you can help pass… Read More »
Blog Posts Page 2
Leave a Great Gift for your Family with Estate Planning
The death of the founder of Zappos is the most recent illustration of critical mistakes that can be made in the estate planning process. Tony Hsieh was a well-known industry expert and author who passed away without a will or other estate planning documents. You can leave a lasting gift to your loved ones by… Read More »
How to Use a Family Mission Statement as Part of Your Estate Planning
When your family has a higher net worth and many assets to be concerned about in the estate planning and financial management process, it’s good to think carefully about what you want to be done with your money based on your values. The estate planning process brings up a unique opportunity to talk about your… Read More »
Business Leaders Need Personal and Professional Estate Planning
Do you own a company in Pasadena? It’s your job not just to grow the company, but to protect it. There are so many different things to consider in your day to day and big picture of working as a business leader. As a successful business leader, this also contributes to the size and complexity… Read More »
Four Things to Think About When Estate Planning in a Pandemic
A one-size-fits-all approach doesn’t work for estate planning, but some of the most commonly used strategies and documents can help give you some peace of mind that you have taken the necessary steps to protect yourself. These include a financial power of attorney, a last will and testament, a living trust, and a health care… Read More »
What to Know as You Prepare to Distribute Assets to Beneficiaries
Appointed to manage the closing out of a loved one’s estate? While your loved ones might be asking what this means in terms of a timeline for them to receive certain possessions, distributing to beneficiaries is the very last step of the process. There are many different steps that must be handled in the probate… Read More »
Why You Need to Estimate Health Care Costs for Long-Term Care
Do you have a plan for what will cover your medical bills if you have an advanced condition? Your health insurance might not cover the full scope of your bills. If you need more advanced care like a room in a nursing home, you could find yourself having to make difficult decisions over your personal… Read More »
What Are the Reasons to Revoke a Living Trust?
A revocable or living trust is only active with terms established by the trust creator known as the grantor. The grantor retains the ability to update the terms of the trust, the beneficiaries on the trust or even the existence of the trust at any point in time during their life. There are a few… Read More »
California Will Contest Lawyer Basics Part 2: When Do You Need a Will Contest Lawyer?
If you suspect that there is something wrong within a will, evaluation and counsel from a will contest lawyer in California is instrumental in helping you decide your next steps and the rights available to you. Trying to handle this kind of case on your own can expose you to risks and mistakes. Many people… Read More »
California Will Contest Lawyer Basics Part 1: Can You Contest a Will?
You might have questions about whether or not you can or should contest a will. A will contest is the formal challenge of the validity of a document that has been proposed to go through the California probate process. One of the main reasons that you may wish to contest a will in California relies… Read More »
What to Do After Auditing Your Estate Plan
An audit of your estate plan should be at the top of your list for an annual activity to ensure that you have considered all major changes in state and federal law as well as any adjustments in your life that might call upon you to update your documentation. An audit of your estate plan… Read More »
What If I Need to Remove a Power of Attorney Privilege?
A power of attorney document can be relatively simple to execute and can be very succinct in its powers, but this is a very powerful and important estate planning tool. This is because you’ll appoint an agent, also known as an attorney in fact, to handle activities that you may not be able to do… Read More »
What Are the Advantages of Working with an Estate Planning Lawyer to Plan for Your Estate?
The initial process of estate planning can be begun by gathering an inventory of all of your assets and liabilities and thinking carefully about some of the issues that you may want to have addressed in your estate plan. Many people initially turn to the prospect of creating their own estate plan as one easy… Read More »
Financial Concerns After Losing a Spouse
Losing a spouse can be a devastating experience regardless of your age or the circumstances. In fact, it can psychologically be one of the difficult experiences for a person to live through. While you may never truly be ready to lose a loved one, and in particular a spouse, appropriate planning well in advance of… Read More »
What Do Courts Consider in Appointing a Personal Guardian for a Child?
The naming of a guardian for your minor child in California is one of the most important components of your overall estate plan and it is necessary that you think this through carefully and with the support of an estate planning professional to verify it’s the right choice for you. The best interests of the… Read More »
What You Need to Know About Succession Planning and Vacation Homes
Many use their vacation homes to connect with family. Of course that has been altered in light of the pandemic but it’s still important to have a plan in place for what will happen to your vacation home now and in the future. This is a unique asset that holds sentimental as well as actual… Read More »
Doesn’t My Collection Automatically Pass to My Heirs?
Whether it’s stamps, coins or artwork, you need to plan ahead for any collections that you own that you plan to pass on or have your heirs sell when you pass away. Collections are viewed under the law as personal property. This means that if you don’t have any other plans in place, your collection… Read More »
California Spouses & Liability for Debts
It’s known that for most spouses in California, you might be planning to leave a substantial portion of your assets or estate to your spouse. But what about the other end of the spectrum when it comes to debts or liabilities? Are spouses responsible? California is what’s known as a community property state. This might… Read More »
Have You Skipped a Letter of Intent in Your Estate Plan?
Along with a will, a trust and beneficiary designation forms, your durable power of attorney and your letter of intent documents can help to ensure that your wishes are followed properly. A letter of intent helps to clarify things for your beneficiary or your executor, making things easier for them in an otherwise challenging time…. Read More »
What Is A Qualified Personal Residence Trust?
Many different types of trusts exist for you to accomplish your estate planning goals. One of these is known as a qualified personal residence trust. This is a trust that allows you to transfer your primary or secondary home to a beneficiary in the future while benefitting from gift tax savings. Once the residence has… Read More »
