If a loved one recently passed away, it is important to equip yourself with the necessary information to understand how to file a will. The first step of accomplishing this is accessing form DE-111. In California this is known as the petition to open probate and this form is located on the state’s judicial website…. Read More »
Blog Posts Page 5
Is There a Time Limit for Contesting a Will in California?
It’s a good idea to sit down with an experienced estate planning lawyer and as soon as possible if you believe there are grounds to contest a loved one’s will. This is not only to give you the necessary action steps to increase your chances of success, but to comply with the law which establishes… Read More »
How Do California Executors Get Compensated?
If a party’s will does not specifically explain how executor compensation should be created, specific rules must be followed. In the state of California, the state executor is known as the personal representative, and compensation outlined by the will can only be altered if the court approves an executor’s petition requesting relief from those provisions…. Read More »
Can A Letter of Intent Help with Your Disability Estate Planning for A Loved One?
As you get older, you likely have concerns about a child with special needs and the support they might need in later years. This is particularly true if they receive benefits through the government program and you want to ensure these are not compromised. Putting together a letter of intent can help to support your… Read More »
How Do California Executors Get Appointed to Probate?
A California executor is the individual named in a will responsible for representing the deceased party’s estate in California and carrying out any instructions laid out in the will. Before a party can begin a formal role as an executor, the court must approve of the nomination. In many cases this is simply a formality… Read More »
What Is the General Plan for Making Distributions in a California Estate?
Distributions refer to one of the final stages closing out a California estate, with the delivery of assets or cash to a given heir. This can only be accomplished after all taxes due have been paid and after resolving all debts. Distributions are the last stage because it is the job of the executor to… Read More »
Can We Remove a Trustee in California?
A trustee has an important legal obligation and numerous roles that must be addressed when appointed to a California estate. However, if beneficiaries have reason to believe that the trustee has violated this fiduciary responsibility, a trustee could be removed from this role. The trustee has a significant level of power over the trust administration… Read More »
Don’t Neglect These Pre-Retirement Documents
You might start to think of retirement as your second act in life and your fresh start, but it’s important to ensure that your documents have been created and updated prior to reaching retirement. This is because you might need assistance from a power of attorney or require long term care before you hit retirement… Read More »
Are Your Digital Assets Exposed to Potential Hackers?
A brokerage or a bank can’t take your assets directly when you pass away. The laws of your individual state will determine who gets what’s inside those accounts if you don’t have an estate plan or a will in place. But your digital assets are a different matter altogether. Your crypto currency collection, your videos,… Read More »
Expecting A Little One? Don’t Forget Estate Planning
There are plenty of things to think about in the wake of preparing for a new member to join your family. But newbie parents should also be prepared to take stock of their financial situation prior to a birth. Pregnancy is the perfect time to check on emergency savings, your overall budget, insurance needs, and… Read More »
Do Trusts and Life Insurance Work Together?
Death benefits that are paid out from a life insurance policy can be considerable in nature, especially when the beneficiary receives them as a lump sum. These benefits can either be paid directly to one or more beneficiaries named on the policy, or to a trust that was created for their benefit. This is one… Read More »
Beware of Leaving a Big Tax Bill Behind with Your Surviving Spouse
Have you thought about how your spouse might be impacted if you were to pass away first? If you are part of a couple, it is just as important to plan for spousal protections as it is for your own estate planning. If you and your partner together are wealthy enough to be exposed to… Read More »
If The Future Is Uncertain, How Do You Plan for Retirement?
American household wealth was hit significantly by the Great Recession, and if there’s nothing we’ve learned from the last few decades other than that planning for retirement is complicated, many people are still nervous about how they’ll afford their golden years. The Great Recession eliminated $16 trillion in wealth across the United States by itself…. Read More »
Do You Need Estate Planning For Your Digital Currency?
If you fail to think about how digital assets could be incorporated into your estate plan, it’s critical to sit down with the help of an experienced estate planning attorney to discuss the many different digital assets you might own. While some of these can include social media accounts and access to photos stored in… Read More »
I Have Only One Child: Do I Need A Will?
A valid will is almost always preferred to having no document at all, even when the creator of the will, also known as a testator, has only one child and intends to leave all assets behind to that child. It’s always advantageous for a testator to also name an independent executor who is capable of… Read More »
What Is The Minimum Cost To Create A Will?
No one can tell you the cost of completing the will in your individual state until the attorney understands the complications of your estates. If you find someone who gives you an upfront price before discussing the particulars of your individual goals, that person might not have enough experience in crafting a will for you…. Read More »
Does A Small Business Need Succession Planning?
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 »
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 »