Whether you’re an entrepreneur or rose to the top of your current company from an employee or executive position, purpose is essential for figuring out what happens when you’re no longer interested or able in playing this key leadership role. People decide to step away from businesses as owners for an array of reasons. Others… Read More »
Blog Posts Page 6
Estate Planning for Wealth Transfer Purposes
If you are contemplating a meeting in relation to your estate planning, you should educate yourself about the concept of wealth transfer. Wealth transfer refers to passing on assets or wealth to beneficiaries after you pass away. Wealth transfer strategies can include tactics such as estate planning, the use of trusts, wills, or life insurance…. Read More »
What Autopay Bills Have to Do with Your Estate Plan
Set it and forget it concepts like automatic payments to your cable, Internet, phone, or car loan provider make it simple to meet your obligations without much thought. But what happens if you were to pass away suddenly and none of your heirs had the contact information to cancel these payments? Forgetting to pay a… Read More »
I Have a Will; Do I Really Need Life Insurance?
When liquidity is a top concern in administering someone’s estate plan, a life insurance policy can be one of the most powerful tools created by the deceased to pass on assets to their loved ones sooner rather than later. This insurance money can be used to pay expenses that are more immediate, such as an… Read More »
How to Decide on the Right Estate Planning Lawyer
If you are contemplating the process of sitting down with a knowledgeable estate planning lawyer to discuss your individual needs and concerns, it’s important to select the right person who is familiar with estate planning laws and strategies. A person’s estate is categorized as the net worth of that person at any point in time… Read More »
What if Kobe Bryant Didn’t Have a Will?
Most celebrity stories around estate planning feature big mistakes made by those who had enough wealth to make it well worth leveraging every estate planning strategy possible. With the sudden and recent passing of basketball star Kobe Bryant, it’s led some people to wonder if he’ll become another feature in the hall of fame with… Read More »
Does My California Executor Have to Hire an Attorney?
If you have done your homework around the process of planning for the future of your estate administration, there’s a good chance that you hope that the executor will be able to handle these tasks on their own. An executor should be a person who is comfortable serving in this role and someone who has… Read More »
Is My California Executor Entitled to Pay?
As a person planning for your own estate or as an interested beneficiary in a family member’s estate, you likely have questions about whether or not the executor involved in estate administration is entitled to pay. Given the number of tasks and the complexity of managing another person’s estate administration, the state of California recognizes… Read More »
Should I Remove A Trustee from A Trust?
A trustee has many jobs when it comes to handling the administration of the trust. Knowing what to do and how to handle this situation is key if someone believes that the trustee should step down or get removed. Not everyone involved will be on the same page about that process, either. This can make… Read More »
Who Really Needs Long Term Care Services?
Are you in the age bracket where it’s time to consider the possibility of long term care support? Research shows that three out of every four Americans older than age 65 will need long term care at some point in their life. Seniors are the biggest growing segment of the United States population and also… Read More »
Who Should Be on My Life Insurance Policy?
The main reason for investing in a life insurance policy is to provide protection for your loved ones after you pass away, but you get to decide who is named as the beneficiary on these life insurance policies. A good rule of thumb to help you figure out this process is to consider the person… Read More »
What Is the SECURE Act and Why Does It Affect Me?
The SECURE Act stands for the Setting Every Community Up for Retirement Enhancement Act. This bipartisan bill is designed to bolster the ability of Americans to save for retirement. If you have specific plans for your estate related to the passing of an IRA, you already know some of the potential tax implications if someone… Read More »
What Makes Medicaid Different from Medicare for Long-Term Care?
Medicaid was originally signed into law by President Johnson in 1965 alongside Medicare. However, this program’s coverage applicability is limited to low income Americans of all ages. It covers Americans who have incomes that are up to 138% of what is defined as the federal poverty level. There are a broad range of different health… Read More »
What Are the Primary Differences Between Medicare and Medicaid?
There’s a good chance that both of these programs factor into your retirement healthcare plans. But do you know the differences between the two? Have you thought about whether you currently qualify for Medicaid and how you would get qualified quickly if you needed it? Many older people get confused about the differences between Medicare… Read More »
Writing My Own Will: Should I Do It?
There are many tools out there marketed as effective and even easier than working with a lawyer. But given the broad reach of your estate planning will, it’s a good idea to make sure that you fully understand what’s required in California and all the ins and outs of what it takes for a will… Read More »
I Just Moved to California: Do I Need a Will?
If you’re the type of family that moves often or has recently moved to be closer to relatives or to retire, it’s important to think about all the ways that your move could influence your estate planning. In addition to updating your address and beneficiary forms on file with your life insurance policy, you might… Read More »
What is California’s Intestate Succession Process?
If you don’t have a will in California and you pass away, your estate will become subject to intestate succession. This means that the State of California has predetermined rules about what should happen to the assets inside the estate. If you had specific wishes but never articulated them within a will, your wishes might… Read More »
Can a Person Ever Disclaim an Inheritance?
While most people would be happy to receive news of an inheritance, there are certain times when a person receives property through a trust, through intestate succession, or through a will does not wish to receive this property. If a person stands to inherit property but does not want to formally receive it, either from… Read More »
You’ve Been Appointed as A California Executor: What Happens Now?
A person who is appointed as an executor of an estate in California has a specific fiduciary duty to adhere to the terms of a will as outlined by a person who created the will. This means that personal liability might be associated with the executor if this person fails to perform as required. An… Read More »
How Can I Create a Trust in California?
Certain legal requirements must be met in order for a trust to be viewed as legally valid in the state of California. This is outlined under California probate section 15200. A trust can be created by a number of different methods. Deciding which of these methods is most appropriate to you can be accomplished by… Read More »