Planning for the future of your business is just as important as completing your personal estate planning. Many people overlook the impacts of business succession planning and expose their company and their loved ones to unnecessary risks. A new study found that upcoming leadership and retiring leadership have key differences in terms of their attitude… Read More »
Blog Posts Page 5
What Happens If You Don’t Name a Beneficiary in Your Life Insurance Policy?
Your life insurance proceeds do not transfer as part of your probate estate. It’s on you as the policyholder to maintain payments on the policy and to update the beneficiary designation forms if there are changes in your personal plans. Do not count on the insurance carrier to keep you informed about annual updates to… Read More »
Study Finds That Family Members Feel Less Guilt When a Loved One Moves to Assisted Living
Especially if your loved one doesn’t yet qualify for Medi-Cal for nursing home expenses, the decision to get your family member some needed help can be a difficult one. If you are concerned about making the transition with a loved one to assisted living or a nursing home, you are not alone. Many family members… Read More »
Does an Unmarried Couple Need Estate Planning?
It is a common question for estate planning lawyers about whether or not an unmarried couple can benefit from estate planning. Unmarried couples without children might assume that there are relatively few benefits for them to meet with an estate planning lawyer and taking this important next step. However, it is just as important for… Read More »
If the Pandemic Disrupted Your Business, You Need a Business Succession Plan
Deciding to sell your business is a difficult proposition and it’s one far too many business owners don’t think about until it’s too late. External forces could cause you to make swift and unexpected changes and the pandemic showed many people just how unprepared they were to make quick shifts in their business. A recent… Read More »
High Earners: Prepare for Tax Changes Ahead
Those who will have a lot of money set aside in tax deferred retirement accounts or who expect to earn and extremely high income for many years should be prepared for how their money is taxed now and how it will be taxed later. This is important for making a comprehensive plan for your retirement… Read More »
What to Know About Selling Your Home If It’s in a Revocable Trust
An irrevocable trust is an estate planning tool you can use in California to help shield some of your assets from the public eye and to create your own transfer plan for them. Since a trust is managed outside of probate, it does not become a matter of public record when trust distributions occur. When… Read More »
These Estate Planning Mistakes Impact Physicians
Like everyone physicians need a comprehensive estate plan that protects their interests and ensures that they have taken care of their own concerns as well as their property after they pass away. Making mistakes when it comes to physician estate planning can be catastrophic for your family and your legacy. Read on to learn more… Read More »
What If My Spouse Refuses to Participate in Estate Planning?
In the best case scenario, both you and your spouse are on the same page about the importance of estate planning and the strategies and people involved in that process. It’s not always the case that both people, however, are on that same page. Married couples and single individuals should all have comprehensive estate plans… Read More »
When Should I Assign Equal Amounts in My Estate Plan?
If you have children you’re thinking about as you plan your estate, it’s natural to wonder whether it’s best to split things equally or divide your assets based on other circumstances. This is a common conundrum for parents in California and there’s no one right answer that applies to every family. It’s a personal decision… Read More »
Even Financial Advisors Need a Succession Plan
Most business owners are so busy with the day to day or even their one-year plan that it’s easy to overlook what happens to the company if they’re no longer actively working in it. But that succession plan could become a matter of top priority very suddenly due to an illness, disability, divorce, or death…. Read More »
How To Do an Annual Review of Your Trust
A trust might include provisions you intend to last for many years. But it’s also not a “set it and forget it” component of your estate plan. Regular reviews can help you adjust your plans with an irrevocable trust. An annual review of your estate plan is strongly recommended to ensure that your estate plan… Read More »
Is Long Term Care Insurance Really an Option for You?
Who will pay for a nursing home if you need one? This question comes up for plenty of American families for whom at-home care is cost prohibitive or beyond the scope of what family members can provide. A lack of planning for this financial burden can be harmful to retirement savings. One other option to… Read More »
Why Would Someone Self-Administer an Estate in California?
If you’re concerned about the cost and the timeframe of probate in California, you’re not alone. Many people who want to make things easier for their loved ones start with the estate planning basics of a will or a trust to cover their main concerns and to make probate more streamlined. If you find yourself… Read More »
Estate Planning Basics for Veterans in California
Estate planning while you’re active duty is relatively simple because there are programs in place to help you. But there’s a good chance that your needs have changed since you left the service. If you have settled in California at the end of your military career, you might need to adjust your estate plan to… Read More »
How to Incorporate Cryptocurrency into Your Estate Plan?
There are many complex challenges around the prospect of owning cryptocurrency as it relates to how it can influence your estate plan. When it comes to transferring, protecting, gifting or securing the wealth generated through cryptocurrency, you need the support of an experienced estate planning lawyer to help you organize it. Digital assets in the… Read More »
What Are Trustee Accounting Requirements?
When you create a trust, one of the role you’ll name is that of trustee. With a revocable trust, you’re likely the trustee. But you’ll name a successor trustee who will be responsible for managing trust assets if something happens to you. If you create an irrevocable trust, another person should serve as the trustee… Read More »
October Is Home National Estate Planning Awareness Week
The third week of October is national Estate Planning Awareness Week, which means that this is your opportunity to sit down and address those neglected plans or those plans that you may not have created at all. The support of an experienced estate planning lawyer is strongly recommended in these circumstances so that you know… Read More »
What Should an Executor Know About Finding Digital Assets?
Digital assets are increasingly a part of loved ones’ estate planning but you might not realize this because you didn’t have access to their computer before they passed away. This can present unique quandaries and challenges for the purposes of estate planning and you should be prepared to consult with a knowledgeable lawyer as soon… Read More »
What Is a Trustee’s Role in Making Property Productive?
When you create a revocable trust, you are likely the trustee for the property placed inside so long as you are alive and capable of managing it. But if you pass away or if you create an irrevocable trust, you’ll want the help of a dedicated Pasadena estate planning lawyer to help you name the… Read More »
