When you add or dispose of certain assets, this may require an update in your estate plan. This includes opening a new investment account, selling property, or acquiring new property. In a thorough estate plan, all of these assets should be incorporated with a transfer through your probate estate, or through other estate planning strategies… Read More »
Blog Posts Page 6
When Was the Last Time You Reviewed the Legal Status of Your California Home Title?
Anyone who owns real property in California needs to think about the most appropriate avenue for passing this on to future generations. Many individuals consider using a tool like a living trust to ensure that the property goes to the chosen beneficiary through an estate plan. The primary goal of leveraging a living trust for… Read More »
When Tradition Just Doesn’t Work for Estate Planning Purposes
You may be familiar with estate planning because a loved one failed to do it, or because you’ve heard that it is common to frequently give most or all of your estate to the oldest child. Doing things because you think you need to do them in your estate could prove problematic down the road…. Read More »
What To Know About Possible Beneficiary Conflicts Before Creating Your Estate Plan
It’s not easy to create an estate plan because it is hard to think about your own morbidity, but it can also be challenging to think about your unique family dynamics. When naming people, such as executors or trustees in your estate plan, you also need to be sure that they’re capable of effectively carrying… Read More »
Do I Need to Discuss My Non-Probate Assets With My Estate Planning Attorney?
Not every asset that you own will be considered as part of your probate estate. Your probate estate includes assets that must be planned for either through your will or other estate planning means. If you fail to include these assets in an unclear estate plan, intestate succession laws in your state will apply and… Read More »
Should I Hire an Attorney Who Mostly Practices in Estate Planning and Elder Law?
Many lawyers practice in numerous areas and may not focus their entire legal services offerings on estate planning and elder law. However, when you’re selecting an elder law or estate planning attorney, you naturally have questions about this person’s experience and familiarity with rules and issues within your state and at the federal level. There… Read More »
Can My Chosen Executor Elect to Resign?
You put a lot of thought and care into who will serve as your estate plan executor. This person has many important roles that begin shortly after you pass away. They must gather your will and submit it for probate and then begin notifying creditors and analyzing all assets inside the estate. If you have… Read More »
Five Benefits of Using a Trust to Make Gifts to Your Grandchildren
If 2023 is the year you’ll sit down to complete your estate planning for your own purposes, for your spouse and for any other family members, such as your grandchildren, it’s important to select the right tools to help you to accomplish these goals. Although documents, such as a power of attorney and a will… Read More »
Don’t Neglect a Holistic Estate Plan
There are many benefits to working with a Pasadena, CA estate planning lawyer, especially when you have specific goals you want to accomplish with your strategies. At our office, it’s our goal to help you build a comprehensive estate plan that covers all of your needs and guides you through the legal process. A lawyer… Read More »
Make Sure Your Commercial Real Estate Business Has a Business Succession Plan
Every business owner of all sizes should consider a business succession plan as part of their estate planning strategy. Transitioning ownership to a future generation or another buyer can be especially complex, particularly if you have not taken proactive steps to address succession concerns before you step down. Owning a real estate business comes with… Read More »
Roth Withdrawals and Gifting Your Roth
Passing on a Roth IRA remainder amount to your loved ones may be a goal as part of your estate planning. It’s also important to think about how your Roth IRA fits into your own drawdown strategy. One of the easiest ways to avoid taxes on retirement funds is to use a Roth IRA. You… Read More »
Study: Americans Need More Support with Retirement
Every year studies are completed to find out how Americans are tracking with retirement, how they feel about their overall financial fitness, and what steps employers or financial planners could take to help improve target retirement savings. Retirement is not just about the personal goals you set for your own future, but for many people,… Read More »
Four Important Estate Planning Statistics to Consider Before Meeting with Your Lawyer
If 2023 is the year you’ll tackle your estate planning, this is an important and crucial step to protecting your loved ones. Far too many people overlook the impact of estate planning or assume it doesn’t apply to them, either by reasons of their health, age or financial situation. Establishing the most basic of estate… Read More »
Have You Named an Alternative Agent for Your Power of Attorney?
When creating a power of attorney, you’re selecting someone to serve in a critical role of an agent to take actions on your behalf. Whether this is a health care medical power of attorney or a financial power of attorney, this agent has important responsibilities in any triggering events, or on a more permanent or… Read More »
Using an ILIT for Estate Planning
You may have heard the term ILIT, which stands for Irrevocable Life Insurance Trust in the context of estate taxes and planning for your legacy. These are financial tools that may fit into your overall plan for your estate but do come with advantages as well as potential risks. There are three primary stakeholders involved… Read More »
Gen Z Setting Different Retirement Goals
Setting a time for your future retirement is an important goal, and it’s one that may shift throughout your lifetime. You may consider numerous different aspects in selecting your retirement age depends on a few factors such as your quality of life, your chosen profession, any healthcare issues and intentions for your estate plan. Your… Read More »
Understanding the Concept of a Springing POA
Writing a power of attorney is an important part of your estate plan. This ensures that you have appointed a chosen and trusted agent to step in and manage your affairs on your behalf if you are unable to do so. You might choose to allow your power of attorney agent to start acting immediately,… Read More »
Should You Name Your Trust as A Retirement Account Beneficiary?
You have the right to choose what who will receive your assets when you pass away, including your retirement account. The support of a qualified estate planning attorney can help you to review any and all assets in your current estate as well as those outside of the estate, and to determine how these should… Read More »
What You Need to Know About Estate and Gift Tax Exclusions That Expire In 2025
Have you had a chance to sit down and review each aspect of your estate plan recently? In most cases, your estate plan is designed to achieve things based on current state and federal estate laws at the time of creation. This means that if you ignore your estate planning documents for too long, you… Read More »
What Is a California Spouse’s Elective Share in Estate Planning?
Spousal property rights are addressed by state law, which is why it’s so important to research the laws in your individual state before meeting with your estate planning attorney. If you’re thinking about getting remarried, there’s a good chance that you’ve overlooked necessary updates to your estate plan. However, you need to be aware of… Read More »
