Major life events should always encourage you to update your estate plan. What was accurate in the past might be changed by going through a significant life event. However, in the chaos of attempting to recover or address this life event, it’s all too easy to overlook the impact of documents that are no longer… Read More »
Blog Posts Page 4
How to Check Your Investments for Estate Planning Purposes
Have you set up beneficiary designation forms that will allow for the seamless and simple transfer of your assets to your beneficiaries if and when something happens to you? If not, do not assume that your basic will is enough to pass on the wealth inside these accounts. You need an experienced estate planning lawyer… Read More »
Is A Standard Form Recommended for Your Trust?
Should you use a form you find online when creating a trust? Learn more about how revocable trusts work and why a lawyer is recommended. Revocable trusts are one of the most powerful and common tools used in the estate planning process. To break it down, a revocable trust is contractual agreement between you; the… Read More »
What Are Non-Probate Assets in California?
There are primarily three types of properties that do not go through the probate process. This property will transfer outside of probate regardless of what a person listed in their will. Non-probate assets include: Property that is held jointly with survivorship rights. Community property that is only available for married couples if they own property… Read More »
What Types of Risks Do My Assets Face?
Keeping your wealth protected is an important part of the estate planning process. Many people also sit down with their estate planning attorney to discuss asset protection planning strategies. Working so hard to create your wealth and then outlining a plan for it to be passed on to future generations are important but not without… Read More »
Have You Done A Recent Checkup on Your IRA?
One of the most popular ways to save for retirement is an individual retirement account, but far too many people establish one and then put their IRA on auto-pilot. This could be a big mistake that your loved ones would have to deal with after you pass away. Funding your IRA every year and making… Read More »
Are You Setting Yourself Up for an Incapacity Crisis?
Getting your financial house in order requires putting an end to procrastination and deciding instead to be proactive. All too often people forget that the event of evaluating your elder law and estate planning documents should be an annual one. Far too many people procrastinate until there are no other options but for the court… Read More »
Has the Object of Your Affections Changed? So Should Your Estate Plan
Any major life milestone should prompt you to sit down and review your current documents to identify whether or not an update in your estate plan is necessary. The object of your affections can also be a life event, that while not classified as major, is important enough to consider updating your existing estate planning… Read More »
There is Still Time to Make Your Estate Planning New Year’s Resolution
The turn into a new year gives plenty of people time to reflect back on the goals they accomplished in the previous year and to outline a plan for the future. Even if you have not yet established your new year resolutions or forgot to include financial and planning considerations, there’s still plenty of time… Read More »
Recently Moved to California from Another State? Update Your Plans
If you’ve already gone through the process of establishing a will, trust and similar estate planning documents, you might assume that you’re off hook for additional planning requirements. But there are many different reasons why you might need to revisit your estate plan and ensure that yours has been appropriately updated based on your individual… Read More »
What Can I Expect During the Distribution Phase of My Financial Life?
All the hard work from your saving and investing should ideally pay off in the third of your three financial stages of life. If you’ve successfully laid out a plan in advance, this third phase should be one in which you enjoy retirement and are able to put together a plan for where your assets… Read More »
What Can I Expect During the Preservation Stage of My Life?
During the course of your adult life, you will encounter a few different phases. As you shift into each of these phases, your overall focus will change and you’ll need to adapt your expectations in line with those concerns present at each stage. The three various phases of your financial life are, accumulation, preservation and… Read More »
What Should You Expect During the Accumulation Phase of Your Life?
It’s said that there are three different financial phases of your life known as accumulation, preservation and distribution. In this short blog series, we will explore what you can anticipate during each of these phases. The accumulation financial phase of your life happens when a person earns the money that he or she will need… Read More »
Can I Revoke a Power of Attorney?
Many people are curious about whether a power of attorney document ever terminates or whether you need to go through the process of hiring a lawyer to remove a person that you no longer want to have this power, this person could be choosing to refuse to give up the power of attorney. There are… Read More »
What You Need to Know About Stock Transfers in Your Estate Plan
One of the greatest benefits of investing is that if done right and scheduled over a long enough period of time, you can acquire assets that will benefit other family members, such as your children, down the line. In order to effectively pass on these resources though, your investment portfolio must be incorporated as part… Read More »
Does a Will Ever Expire?
Many people have questions about what it takes to put together a will. It’s a mistake to assume that generating a will is a once and done kind of activity and this is because you may need to update your will over the course of your life. It is a misconception that a will expires…. Read More »
Are You Hurting Your Estate Assets by Helping Adult Children?
As a parent, you might end up helping your kids financially longer than you expected. Being an adult child today means that there is a good chance that you get some help from your older parents. This can have negative implications for the aging parents’ estate, however, if appropriate techniques have not been used. A… Read More »
Key Takeaways from Prince’s Estate
Unlike other celebrities like Michael Jackson, the estate assets for pop star Prince were all valued accurately and the necessary taxes were paid and there were not any further audits from the IRS. However, Prince made things much more difficult for his loved ones by failing to leave behind a will. There was no clear… Read More »
Do I Really Need to Have Estate Planning Documents Naming My Spouse?
Having various estate planning documents established enables a person to step in and make decisions on your behalf if you are unable to do so. Given that you could become incapacitated or could pass away suddenly, it is important to ensure that all of your estate planning documents are in line. Far too many people… Read More »
Relationships with Age Differences Require Advanced Retirement Planning
Age gap relationships require careful consideration. These refer to planning for retirement for a couple that might have between 10 and 30 years difference in their ages. Since no two couples are alike, retirement and estate planning requires a team of professionals who is familiar with your situation. The majority of married couples have minor… Read More »