You might think you’re covered because you created an estate plan many years ago. Even though you might have recognized the key importance of estate planning, you didn’t do the necessary steps to keep your estate plan updated over time. Unfortunately, there are many different reasons why your estate plan might become invalid or no… Read More »
Blog Posts Page 8
Does Cryptocurrency Fit into Your California Estate?
The growing popularity of owning some form of cryptocurrency means that these issues must be considered when planning for your own estate. If you currently own any cryptocurrency, providing instructions for what will happen to it in your will is necessary. Cryptocurrency is a board term that refers to any form of virtual money that… Read More »
Can You Include a Firearm in Your Estate Plan?
The smooth legal transfer of firearms might apply to you if you currently have a weapon or a collection of firearms. Guns, much like art, are very unique assets and fall under state and federal laws that should be considered in the estate planning process. Any and all special items, including other personal collections or… Read More »
What Are the Possible Unintended Consequences of Improper Beneficiary Designation?
One of the most common goals presented by clients visiting our office is to avoid probate. While it is certainly important to consider how probate could cause further difficulties for your loved ones, and while there are many benefits to generally avoiding probate, there are also unintended consequences of using this as the only factor… Read More »
My Estate Should be Simple: Do I Need a Plan?
Estate plans can be adjusted and customized based on your individual needs. Every person, even single people with no children could benefit from estate planning to make the process easier for those loved ones or appointed representatives who will take over when you pass away. Estate planning involves putting in plan a place to determine… Read More »
Have You Thought Carefully About Your Property in Your Estate?
So many people don’t recognize the legal consequences of issues that might not have been significant during the course of life, but can emerge as urgent after a loved one has passed away. One common example is a tangled title, in which only one spouse is listed on the title to the house. This makes… Read More »
Are You One of Millions Making This Financial Mistake?
Although managing your finances and mastering them probably isn’t the most important task on your to do list, it is essential if you want to set yourself up for long-term success about estate planning and financial planning. It’s crucial to have a plan in place, but recent studies show that millions of adults are all… Read More »
Tax Season? It’s Estate Planning Season, Too
It’s that time of year to drag out all your paperwork, review incoming documents, and make sure you’re organized for your meeting with your accountant. Since you’re already going to the trouble of getting the yearly financial picture for your taxes, why not take advantage of this opportunity to review and update your estate plan,… Read More »
What Role Does Purposes Play in Your Succession Plan?
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 »
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 »
