Creating a will is the cornerstone of estate planning, but this is not a document in which you can add everything in terms of property to pass onto future generations. Some types of property should not be included in a will at all. Property that should not be listed in your will is any asset… Read More »
Blog Posts Page 7
Will A Living Trust Protect My Assets from Creditors?
There are numerous reasons to consider using a revocable living trust. The cheap among these avoiding probate. However, be aware that it is not always guaranteed that you can keep your assets safe from creditors when using a living trust. A revocable trust enables the trust creator or the grantor access to the assets inside… Read More »
Reinforce Defenses in Your Estate Planning for an Effective 2019
If you have already taken steps with your New Year’s resolutions to obtain financial solvency, such as speaking with a tax planning lawyer and attacking debt, any emergency can still be devastating if you haven’t considered all planning opportunities. Far too many people don’t have an appropriate estate plan in place and this could lead… Read More »
What Are the Three Biggest Benefits of Establishing A Living Trust?
You’ve probably already heard, if you’ve done any amount of investigation, that estate planning tools and documents can include trusts when you want to add greater flexibility and control over your assets. But determining which type of trust you intend to use is difficult, especially if you don’t already have a relationship with an estate… Read More »
Tips for Protecting Foreign Assets in Estate Planning
Estate planning goes far beyond establishing a plan for the materials that you have owned in the United States. If you have foreign assets these must be included in your estate planning and this branches out into the broader concept of asset protection planning. As air travel, innovation, and technology are increasingly bringing people closer… Read More »
Do I Really Need A Living Will?
When used with other estate planning documents, a living will can be a crucial aspect of planning ahead for the future. Understanding what’s involved in orchestrating a living will and the various protections afforded to you and your loved ones can help you make informed decisions about the right documents for you. Basics of A… Read More »
Can I Add Personal Restrictions on My Estate Planning Stipulations?
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 »
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 »