In California, those looking to buy a home will find that many homes on the market are subject to a homeowners' association. A HOA can be a benefit under many circumstances, but there are also times when its rules conflict with a homebuyer's desires or circumstances. It is best to research the rules and practices of the association prior to deciding to make the purchase of a residential premises.
In California, a majority of people do not even have a will, which is a basic estate planning tool at the heart of many estate plans. This applies to people with a large amount of assets and those with a modest financial picture. Persons in both financial categories need to have basic estate planning to maximize their asset holdings during life and to provide for a smooth distribution of assets to the heirs that the person wants to receive the assets.
In California, trustees are fiduciaries in wills, trusts and occasional other legal instruments. Because the trustee holds assets that are passed from one generation to another, trustees and the beneficiaries of the trust instruments are likely targets of cybercriminal enterprises. Because trust administration promises a fiduciary duty, the trustee could end up being legally responsible for the loss of trust assets or data.
The pettiness of some disputes that homeowners have with their homeowners' associations explains why buyers do not always choose to locate in such a community. Basic rights of expression and harmless efforts by California homeowners to be helpful are not always welcomed by the HOA, which often leads to expensive, time-wasting conflicts. This is how one family in another state views an association's efforts to have a Little Free Library box removed from their front yard.
The populous baby boomer generation is in the process of transferring its wealth to the younger generations in California and throughout the nation. This $30 trillion transfer along with continuing increases in the federal lifetime federal estate and gift tax exemption makes this a good time for boomers and others to do some fruitful estate planning. Despite the favorable circumstances, experts report that some people will continue to make certain repetitive and predictable mistakes.
Taking the first step to plan your estate can be challenging. There will be a lot of important decisions that will need to be made from the get-go. One of the first questions that you will have to ask yourself is what kind of estate plan is right for you. A thorough estate plan will include either a will or a trust, depending on each person’s preferences and financial situation.