Many people choose to leave the property and their estate outright to friends, family or charities. However, you may wish to pass on a gift and place restrictions on it, such as if a certain event occurs and the gift goes to someone else. Some estate planning practitioners might refer to this as dead-hand control…. Read More »
Blog Posts Page 6
Can I Leave Behind A Gift to A Caregiver in California?
If you live in California and intend to leave behind a substantial gift to anyone who is not a relative who has assisted you with health care or personal care, you should see an attorney first. You are eligible to leave behind such a gift, but you might need to visit with your attorney in… Read More »
Do I Need an Estate Planning Lawyer for Intellectual Property?
Copyrights, patents, and trademarks are frequently referred to as intellectual property. Many of the lawyers who work in this area of the law have practices focused primarily on intellectual property issues, which means that if you are contemplating how to protect your intellectual property after you pass away, you need to be aware of the… Read More »
What is a Family Limited Partnership?
Some people are under the impression that establishing a family limited partnership can somehow eliminate all estate taxes, regardless of the fact that the estate or the overall structure of the business. The concept behind this is that the parents can transfer property into a partnership business entity with children and potentially grandchildren. These individuals will share ownership as limited… Read More »
What is a Property Control Trust?
You may establish a property control trust in numerous different situations, including, the following five: First of all, you might want to restrict the beneficiaries access to his or her inheritance, because you believe that they can not responsibly handle money. You can establish a spend thrift trust to assist with this. The second reason to… Read More »
Avoiding Conflicts with Proper Estate Planning
Is avoiding conflict really worth it as an estate planning goal? Estate planning involves assets that can be sold for cash, or cash directly. Money can be difficult when it comes to family, friends, and other relationships. Many people do strange things because of the desire for money, or their possession of money. If you… Read More »
Celebrity Estate Planning Oddities: Harry Houdini
Often celebrities can provide interesting information about the estate planning process. All too often, this comes in the form of mistakes to avoid since too many celebrities never do their estate planning to begin with or fail to incorporate a holistic picture that would better protect them and their loved ones. However, celebrities can also… Read More »
How Do Significant Life Events Impact Your Estate Planning?
Major life events should always encourage you to update your estate plan. What was accurate in the past might be changed by going through a significant life event. However, in the chaos of attempting to recover or address this life event, it’s all too easy to overlook the impact of documents that are no longer… Read More »
How to Check Your Investments for Estate Planning Purposes
Have you set up beneficiary designation forms that will allow for the seamless and simple transfer of your assets to your beneficiaries if and when something happens to you? If not, do not assume that your basic will is enough to pass on the wealth inside these accounts. You need an experienced estate planning lawyer… Read More »
Is A Standard Form Recommended for Your Trust?
Should you use a form you find online when creating a trust? Learn more about how revocable trusts work and why a lawyer is recommended. Revocable trusts are one of the most powerful and common tools used in the estate planning process. To break it down, a revocable trust is contractual agreement between you; the… Read More »
What Are Non-Probate Assets in California?
There are primarily three types of properties that do not go through the probate process. This property will transfer outside of probate regardless of what a person listed in their will. Non-probate assets include: Property that is held jointly with survivorship rights. Community property that is only available for married couples if they own property… Read More »
What Types of Risks Do My Assets Face?
Keeping your wealth protected is an important part of the estate planning process. Many people also sit down with their estate planning attorney to discuss asset protection planning strategies. Working so hard to create your wealth and then outlining a plan for it to be passed on to future generations are important but not without… Read More »
Have You Done A Recent Checkup on Your IRA?
One of the most popular ways to save for retirement is an individual retirement account, but far too many people establish one and then put their IRA on auto-pilot. This could be a big mistake that your loved ones would have to deal with after you pass away. Funding your IRA every year and making… Read More »
Are You Setting Yourself Up for an Incapacity Crisis?
Getting your financial house in order requires putting an end to procrastination and deciding instead to be proactive. All too often people forget that the event of evaluating your elder law and estate planning documents should be an annual one. Far too many people procrastinate until there are no other options but for the court… Read More »
Has the Object of Your Affections Changed? So Should Your Estate Plan
Any major life milestone should prompt you to sit down and review your current documents to identify whether or not an update in your estate plan is necessary. The object of your affections can also be a life event, that while not classified as major, is important enough to consider updating your existing estate planning… Read More »
There is Still Time to Make Your Estate Planning New Year’s Resolution
The turn into a new year gives plenty of people time to reflect back on the goals they accomplished in the previous year and to outline a plan for the future. Even if you have not yet established your new year resolutions or forgot to include financial and planning considerations, there’s still plenty of time… Read More »
Recently Moved to California from Another State? Update Your Plans
If you’ve already gone through the process of establishing a will, trust and similar estate planning documents, you might assume that you’re off hook for additional planning requirements. But there are many different reasons why you might need to revisit your estate plan and ensure that yours has been appropriately updated based on your individual… Read More »
What Can I Expect During the Distribution Phase of My Financial Life?
All the hard work from your saving and investing should ideally pay off in the third of your three financial stages of life. If you’ve successfully laid out a plan in advance, this third phase should be one in which you enjoy retirement and are able to put together a plan for where your assets… Read More »
What Can I Expect During the Preservation Stage of My Life?
During the course of your adult life, you will encounter a few different phases. As you shift into each of these phases, your overall focus will change and you’ll need to adapt your expectations in line with those concerns present at each stage. The three various phases of your financial life are, accumulation, preservation and… Read More »
What Should You Expect During the Accumulation Phase of Your Life?
It’s said that there are three different financial phases of your life known as accumulation, preservation and distribution. In this short blog series, we will explore what you can anticipate during each of these phases. The accumulation financial phase of your life happens when a person earns the money that he or she will need… Read More »