Choosing a trustee in California is one of the most important steps you can take for estate planning. Knowing that you have a way to smoothly transfer your assets to the next generation might prompt you to set up a trust with the help of a Pasadena estate planning lawyer. Understanding the role of trustee… Read More »
Blog Posts Page 5
Senior Home Care Versus Home Health Care: What’s the Difference?
Private or in-home caregiving is a broadly used option and one that has become increasingly popular as elderly individuals want to stay in their own homes or their family members’ when they have care needs. There are local as well as national care companies as well as referral services and registry services for caregivers to… Read More »
What Records Should I Have Organized for My Executor?
In your will, you’ll name the person who is responsible for closing out your estate affairs. Depending on your advanced planning and the volume of assets inside your estate, this could be a process that takes months or even years. Being proactive by thinking about what this experience will be like for your executor/personal representative… Read More »
Does a Disclaimer Belong in Your Estate Planning?
The process of putting together your estate might seem overwhelming and it’s very possible that you’ve put it off up to this point as a result of not wanting to broach the subject and trying to figure out which aspects apply to you and which don’t. The support of an experienced estate planning lawyer can… Read More »
Where Can I Find My Deceased Loved One’s Estate Planning Documents?
In the wake of a loved one’s death, it’s normal to feel like you want to step back and take some time to grieve. For family members responsible for helping with probate, however, that downtime is not always available. This is particularly true if no one knows where the estate planning documents are. Every party… Read More »
Family Owned Businesses Need Succession Planning
As a family owned business, you might have anticipated that you had a clear track for what would happen after you exited the company, but as covid-19 and all of 2020 have shaken up what the future looks like you may be aware of issues around the process of business succession planning. In the United… Read More »
Does Your Family Really Know Your Intentions for Your Estate?
There are plenty of reasons to overlook or procrastinate on estate planning and since you won’t be the one around to deal with the consequences, it’s easy to forget if your loved ones will be tasked with the responsibility of closing out your estate and coping with any undone tasks at that point in time…. Read More »
Hoping to Keep Your Assets in the Family? Use These Tips
The inheritance you leave behind could become swallowed up by taxes or end up being owned by someone else. Thankfully, there are some powerful tips you can put into place today to help keep this from happening. Your heirs won’t have to worry about paying anything in estate taxes if you have less than $18.58… Read More »
Moving to a New State? Make Sure Your Estate Plan Will Follow You
Are you planning a move out of California? Make sure your estate plan will come along. If you’ve landed here because you’re trying to decide about moving to California, you’ll want your current estate planning documents will still work in your new home. Relocating to a new state brings up plenty of opportunities to transfer… Read More »
Talking About Your Money with Your Adult Children
Many people have moved back in with their family as a result of the pandemic and this presents unique opportunities to speak with your adult children about financial topics. Account balances, end of life directives, existing estate planning documents, and priorities are all things that should come up when you have your family members under… Read More »
Creating and Funding GRATs
A grantor retained annuity trust discounts the value of larger gifts and freezes them at their currently discounted values rather than at the time of death values. This works very well in two distinct circumstances that are currently happening in the market which are very low IRS interest rates and depressed values of investments like… Read More »
It’s National Financial Planning Month: Things to Keep in Mind
October is national Financial Planning Month and this is a perfect time to evaluate your current plans and to determine any gaps you have to establish a firmer financial future. A recent study completed by Go Banking Rights determined that 64% of respondents in the United States say they are not prepared for retirement. The… Read More »
Business Owners: Now Is the Time to Reconsider Your Estate Plan
From a presidential election to a worldwide pandemic, many people are now thinking about the need to update their estate plan. There are many different reasons for this including environmental issues, such as low interest rates, lower valuations, and the possibility of a change in administration. This means many people are thinking about leveraging gift… Read More »
Don’t Let Your Family Be Caught Off Guard
No one wants to be in the position of discovering that a loved one did not have an estate plan. Unfortunately, when this happens, it can put your family in a very difficult situation in which they are unsure how to proceed. You can do your due diligence and make things easier for your loved… Read More »
Will a Trust Take Care of Everything in Your Estate Planning?
A trust is a solid component of any advanced estate plan, but it is certainly not the only thing that you can rely on to handle the aspects of administering your estate. It is an effective strategy to use a trust but it is also far more complex than most people realize. If you fail… Read More »
Elder Law Tips for Caring for a Loved One When They Live Far Away
If you are attempting to be a caregiver from a distance, this can be a very overwhelming situation and it can even be more daunting than trying to manage it in your own home. Statistics suggest that there is a good chance that you might be a caregiver at some point in the future, and… Read More »
When Updating My Estate Plan, Do I Need to Use the Same Attorney Who Drafted It?
Did you draft an estate plan with the help of an estate planning lawyer many years ago? A common process in which this happens is when you and a newly married spouse sit down to create your estate plan at the birth of your young children. Making some tweaks to the will and other documents… Read More »
Does a Power of Attorney Grant the Agent the Ability to Do Whatever They Please?
An agent under a power of attorney has an overriding responsibility known as a fiduciary obligation to ensure that financial decisions are in the best interests of the person who named that agent under a power of attorney. Not all powers of attorney will grant full financial rights regarding assets. The right to act is… Read More »
What Are the Changes a Power of Attorney Cannot Make?
A power of attorney document that is written in a general sense does not typically contain any limitations, meaning that it will give the appointed attorney in fact or agent broad authority of financial or medical decisions. Your power of attorney holds specific and clear powers when it comes to management of your affairs so… Read More »
Do I Have to Update My Estate Plan Every Time I Move?
It can be very complicated to move to a new location, but this can also raise important questions about your existing estate plan as it relates to guardianship and subjects in a will. If you move frequently because of your job, it is important to have a relationship with an estate planning attorney in your… Read More »
