Do you think your financial situation may change in the next year? If so, now makes for a great time to think about the past year and plan for the future ahead. A year end strategy review helps you identify opportunities to step into 2023 more confidently. If you haven’t yet taken advantage of reviewing… Read More »
Blog Posts Page 3
What Are the Biggest Benefits of Hiring A California Estate Planning Attorney?
Are you in the process of evaluating hiring a Pasadena estate planning lawyer? If so, there’s a good chance that you have numerous questions and want to make sure that you’re proceeding as you intend to. There are many different benefits to working with an attorney, and many of these involve avoiding mistakes and making… Read More »
Should You Put Your Gift Inside a Trust?
The simplest way to pass on an asset is to give it directly, but this doesn’t always make the most sense. Unnecessary tax issues may apply, or you might not feel comfortable that your loved one receiving the gift is capable of planning properly. Passing on a gift of an asset or cash to a… Read More »
Structuring Legal Ownership of Assets: What to Know
There are many different decisions you’ll encounter when thinking about structuring ownership of your assets. These are all very important as this could come up in the future if you attempt to transfer these assets or if something happens to you, and another person is intended to receive them. How you choose to structure your… Read More »
Are You Really Ready To Retire Early?
Retiring early may be something that’s on the horizon for you, but you should and probably do still have questions about whether or not it is time to take the leap. Many people have planned for their retirement over the course of their entire working lives, but there are still plenty of questions that remain… Read More »
Study Shows Millennials Interested in Long Term Care Planning
Millennial clients are increasingly asking financial advisors and estate planning attorneys for information about long term care planning. Long term care planning is strongly recommended for people of all ages and general health because a sudden disability accident or illness could render you in need of long term care support. Conversations about wills and other… Read More »
Can My Personal Assets Be Tapped in a Lawsuit
If you’re concerned about the possibility of someone being able to tap into your personal assets, you may need to consult with an experienced and qualified estate planning lawyer. Your estate planning lawyer should have substantial experience in the process of asset protection planning. Contrary to popular beliefs, asset protection planning is not only for… Read More »
What Influences the Cost of Living Wills?
A living will is an important estate planning document that records your long term, end of life and medical care choices. This document only comes into play when you have created it and when you are no longer able to communicate to your loved ones or your doctors about your own decisions. Sadly, far too… Read More »
My Financial Situation Has Changed. Do I Need To Update My Estate Plan?
There are many reasons why it is beneficial to update your estate plan and significant changes in your personal or professional life are just one example. If you add new children, including grandchildren, if you get married or divorced, or if you have recently moved to a new location, it’s a good idea to work… Read More »
Should I Include Stepchildren In My Estate Plan?
Blended families are increasingly common, and yet many people don’t know how to approach the subject of estate planning for previous children as well as children in the new marriage. Finding a knowledgeable estate planning attorney in your state is very important for verifying that you take care of all of the beneficiaries in your… Read More »
Is Your Business Thriving, You Definitely Need A Business Succession Plan
It’s easy to put creation of a business succession plan on the backburner when things are thriving. You may not even be contemplating an exit from the company, but setting a plan to leave in the next couple of years requires some advanced planning that you can do with a business succession expert. If your… Read More »
Are You Recently Single? Here Are Some Estate Planning Steps
A change in your marital status also should prompt updates in your estate plan. This can represent a significant change in your personal life, but it is important not to overlook the legal assignments you may have already made with your previous partner in your estate plan. Working with your financial advisor as well as… Read More »
At What Asset Level Should I Use a Revocable Trust in California?
Revocable trusts have many different benefits for people interested in estate planning in California. A revocable trust may also be referred to as a family trust or a living document, and it allows you a great deal of flexibility since you can update it over the lifetime of the person who created it. Bear in… Read More »
Why You Need to Revisit Your Estate Plan Every Three to Five Years
Major changes in your life should always prompt you to consider an update to your estate plan, but sometimes it’s easy to put this on the back burner and to forget about the possibility of what might come next. Updating your estate plan every three to five years usually means taking a look at it… Read More »
What Happens if You Get Too Sick to Make Your Own Decisions?
Many people think ahead about the future of estate planning with concerns about what happens to their assets after they pass away. This is a core component that generates most conversations around estate plans, but according to the Centers for Disease Control and Prevention, approximately one in four people in the country live with a… Read More »
Are My Funeral Burial Wishes Part of My Estate Plan?
There are plenty of directions, wishes and exact directives that you may wish to leave behind for your loved ones, and your appointed executor when you pass away. If you had the foresight to work with an estate planning attorney to architect your plans, it is also important to think about whether or not you’ve… Read More »
Transferring Property? Don’t Forget About the Tax Impacts
When you gift property to others, you may want it to be a positive experience for the person receiving it. But since everyone has unique financial considerations, you should always work with a lawyer to discuss the how and when of transferring these property types. An attorney can help you decide on the method and… Read More »
What Happens to My Pets If I Don’t Have Family Who Will Take Them When I Pass Away?
Most people think of their pets as members of their family and treat them accordingly. Your pets rely on you for everything, and it can be hard to think about what might happen to them if something were to happen to you. It is natural to be concerned about what happens to your furry friends… Read More »
What Does It Mean To Carry Out Effective Asset Protection Planning?
Where possible, you may want to discourage people from filing litigation against you in order to protect your own wealth. Asset protection planning can be considered your last line of defense for predators filing lawsuits or creditors pursuing your personal assets. Before people take any steps to insulate their wealth legally, make sure you have… Read More »
What Are Options for Passing on Illiquid Assets
If you own assets, such as real estate, heirlooms, art or other collections, you have some unique estate planning considerations. There are a few different ways to pass on these illiquid assets, and you’ll want to think carefully about your personal goals and the people who will receive these assets. In most cases, the best… Read More »
