Camarillo Estate Law And Real Estate Law Blog

California and other states are seeing a reversal to some extent of the longtime trend of family members establishing independent and separate households. The Pew Research Center estimates that 20 percent of the population lived in multigenerational homes in 2016, which is the equivalent of 64 million people. Some of this trend includes working adult children who are making changes in their living space to accommodate their aging parents. Where applicable, the trend is a factor to be considered in estate planning.

Other aspects of the trend include children moving back with parents to handle better their student loan payment problems. Sometimes, grandparents may be recruited into the household to provide childcare for their grandchildren. In some cases, relatives may purchase a separate neighboring property or a nearby condo to house aging parents and more easily provide caretaker assistance in addition to professional care where needed. These situations all require planning of the physical resources of living to accommodate all family members satisfactorily.

Buying a home in a private California community often means accepting the governance of a homeowners association. An HOA is established by the developer of the community, and its management is then transferred to its board, which is made up of property owners in the community. The board enforces the covenants, conditions and restrictions (CC&R), which are the rules every homeowner in the community agrees to live by. Homeowners pay monthly HOA fees, which can be less than $100 or well over $1,000, depending on the services the HOA provides for its residents.

HOAs do not always have a good reputation, especially when the press publishes the most sensational stories of HOA power-hungry boards. However, living in an HOA-governed community has its advantages. For example, the HOA fee allows the community to pay for care of the common areas and provide amenities like community centers, swimming pools and security. Neighbors who have disputes can reach out to the HOA for resolution. Additionally, the board is made of residents, so anyone in the community can take an active role.

Estate planning in California is a complicated process of arranging all of one's assets in a manner that will protect them from depletion and at the same time set up a plan of distribution of those assets for one's heirs after death. The benefit of providing for one's care and financial functioning during a period of incapacity is also a major benefit of the estate planning process. There are some general misconceptions that people tend to make about estate planning, which it is helpful to avoid.

For one thing, people think that as long as they make a will they have set up an estate plan that will carry them through. The fact is that the will is generally only one component of a plan. For example, how one titles one's assets has a lot to do with how they will be dealt with after death. It is usually more efficient for a couple to own a will or even a bank account as tenants by the entireties with the right of survivorship.

An old woman lay dying in the bedroom of her daughter’s home. On her left, her three adult grandchildren sat sniffling and stroking the arm of the only grandmother they knew. On her right, her two daughters whispered loving words through strained vocal chords: attempting to contain the expanding sobs within. The little old woman’s eyes pressed firmly together as her body fought its final battle.

As the death rattle silenced, her chest ceased raising and falling. In that moment, the eldest granddaughter began marking time, realizing no one else could. After two minutes, she announced the time of death to an uproar of sobs.