Camarillo Estate Law And Real Estate Law Blog

Taking a form will off the internet and saying that there is now an estate plan in place would be an exercise in self-delusion. The truth is that there are many issues that must be evaluated, several more legal instruments prepared, and in the ideal situation, this should all be done under the guidance of an experienced estate planning attorney and, where appropriate, a qualified financial adviser. For residents of California, choose an attorney who is proficient in the estate laws of this state.

Regarding the internet, younger people these days store their most valuable business activities online and use the web for basics such as banking, correspondence, contract execution and so forth. The older generation has gotten into the act and it is becoming the norm throughout society. Therefore, it can be a devastating mistake to not have a will or other legal directive that explicitly instructs one's representatives on how to handle one's online business and personal accounts.

California Senate Bill 1265 would seek to curb abuses of power by homeowner associations. The bill intends to further democratize the process of HOA elections but there are others who say that the bill is misdirected. The bill's detractors point out that the current system of elections in the state's 55,000 homeowners' associations is the strongest in the nation. They claim that the current system is fair.

In addition, supporters of the current system assert that California law already provides for protections that the bill is trying to initiate. The present laws already require associations to give notice of all elections, give ballots to all members and count the votes in open meetings. The new law would allegedly also reduce voting by association members because other members could copy the secret ballots and the signed envelopes, which would give them the other members' names, addresses and signatures.

In California and throughout the country, opioid overdoses are the biggest cause of death for persons under 50. It is estimated that about 12 percent of American families have a relative who is addicted to opioid narcotics. In some families, new ways of providing financial assistance to afflicted persons are being formulated, with the emphasis on obtaining rehabilitation, educational programs and various health care programs through trust administration plans.

The financial vehicles being utilized are sometimes referred to as "opioid trusts." One important consideration in using this kind of financial management tool for an afflicted family member is the inability to trust the individual with a significant amount of money. Addicts are known almost universally to have little contact with reality when deciding what to do with and how to spend their money. Parents and other concerned family members do not want to provide funds that will be used to buy illegal drugs.

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.