People’s names often change due to marriage, divorce or a court order. When family names change this can become problematic for any legal documents that have the previous name. For example, consider a daughter who was named as a power of attorney agent or health care representative by a family member several years ago. If… Read More »
Blog Posts Page 7
Where Are the Most Expensive States to Retire To?
When you look ahead to your future, there’s a lot to think about. That’s true even when you narrow down your focus lens to financial concerns alone. After all, you’ll need to consider: How you’ll afford long term care or access programs like Medicaid How many years you hope to continue working Whether you and… Read More »
Can My California Trust Hold Title to Real Estate?
There are a few different popular reasons why people in California turn to living trusts as an estate planning tool. First of all, a revocable trust gives you the option to change this strategy or eliminate the trust entirely as you choose during your lifetime. Secondly, trusts add a layer of privacy surrounding your estate… Read More »
Have You Planned for Second Level Beneficiaries?
It can seem very simple to broach the subject of estate planning for couples with no children. In fact, many assume there is no need for a will at all or only use a simple will that doesn’t consider all of their estate planning intentions and possibilities. It’s important to ensure that any wishes you… Read More »
The Four Legal Documents You Must Have for a Child Going Off to College
Back to school is fast approaching in what many hope will be a return to normal. It’s almost that time for your baby to go off to college but it’s important to think about the documents you need to have in place. The transition from teenagerhood to adulthood often catches some parents by surprise when… Read More »
What Happens If You Don’t Make Your Anticipated Retirement Age?
Having the ability to enjoy life after retirement is an important calculation in determining your retirement age but new research has shown that many people are retiring a bit earlier than they anticipated which impacts their financial savings and even their estate planning. Among those who has already retired the average age of retirement is… Read More »
How to Find a Deceased Person’s Will?
If you were recently named as an executor to someone else’s estate, one of the most important and first steps you need to take is to find the will. After you get your hands on the original, you’ll want to make a copy as well as keep a close eye on it as this will… Read More »
How is Real Estate Transferred After Someone Passes Away?
There are many details to sort out when a loved one passes away, but if you’re dealing with real estate, this can probably be one of the most substantial assets inside the estate overall. Furthermore, many family members might have a vested interest in what happens to a piece of real estate. The real estate… Read More »
Who Might Be Liable for Debts of a Deceased Person?
In most cases, individuals associated with an estate are not personally liable for the debts associated with that loved one’s final bills. However, there are exceptions to this. The surviving spouse, for example, is liable for debts that the couple incurred together. For example, even if the other spouse was the one who put charges… Read More »
What Does It Mean to Notarize a Will?
Many wills that are written by estate planning attorneys are notarized even though every state does not require that a will be notarized in order to be classified as legally valid. California does not require the additional step of notarization, although you might still choose to get a notary’s signature and stamp on your will… Read More »
What States Don’t Consider a Personal Property Memorandum a Legitimate Legal Document?
A personal property memorandum can help to add additional context to your estate planning. This is a letter explaining how you want your personal effects to be distributed, such as furniture, clothing, electronic equipment, jewelry or collectibles. It is not a substitute for a will, but can make it easier to interpret the terms of… Read More »
Will My Executor Need to Open a Bank Account for Estate Funds?
One of the most common steps after a person passes away is to file the will or other estate documents with the probate court. Relatively soon after this point the appointed California executor should open a bank account for estate funds. This helps to ensure a firm line between the individual serving as the personal… Read More »
What Is a Will Codicil?
There are a few different methods by which you may be able to make changes to an existing will. If these are minor changes, making an amendment to your will can be done with the support of an experienced estate planning lawyer. In more serious situations in which you want to make drastic changes to… Read More »
Can a California Living Trust Speed Up the Probate Process?
Having a shorter timeline for the transfer of assets is one of the most common reasons that a person will hire a California estate planning lawyer to create a trust. When a person passes away, things they own, such as a home or a vehicle, could spend years tied up in probate. Probate is expensive,… Read More »
Does a Trust-Based Estate Plan Keep My Affairs Private?
Putting together a will directs the courts and your appointed executor as to what happens to your assets when you pass away as well as naming a guardian for any minor children. However, using a will means that the matters of your estate could become a source of public record after you pass away. There… Read More »
What You Need to Know About Getting Assets Appraised in an Estate
Some assets inside or outside an estate that will pass to others when you’re gone have a very clear value. For example, the value of your retirement account on the date the loved one passes away is very easy to calculate. But it’s likely that your estate contains some other assets that aren’t as easy… Read More »
Three Estate Planning Mistakes Too Many Californians Make
You don’t want your loved ones to find out the hard way that you didn’t manage your estate properly. Sadly, this is the reality for so many families who have to cope with the messy aftermath of poor estate planning. Many of the most common mistakes can be entirely avoided by planning well in advance… Read More »
What Are the Basics of Asset Protection Planning for a California Estate?
Asset protection planning goes one step beyond the foundation of estate planning to give you an additional layer of privacy and risk mitigation. While having a will makes probate easier and potentially faster, there are other thing you want to accomplish to ensure the wealth you’ve worked so hard to earn is not compromised by… Read More »
Should I Use a Corporate Personal Representative?
One of the most critical decisions you’ll make in your estate planning is selecting a personal representative to manage the process of closing out your estate after you pass away. For most people, a close friend or family member comes to mind to serve in this role, but it is critical to be clear about… Read More »
What Kinds of Things Can I Give My Financial Power of Attorney Agent Authority Over?
When you create a financial power of attorney document, you can do so to allow them to have general powers, or you can give them a specific list of things that they are entitled to do if and when the power of attorney document becomes active. Basic forms, which might be good for you to… Read More »
