A successful homeowners association must provide an equal balance of benefit and responsibility. California homeowners who choose to live in HOA communities must understand that they will be making certain sacrifices to comply with the covenants they sign. In exchange, they expect their board members to maintain an aesthetically pleasing and tranquil environment. Nevertheless, HOA boards regularly deal with complaints about a variety of issues.
A leading title and real estate settlement provider is bringing the inevitable innovation to California and nationally: a digital real estate transaction called eClosing. It is said to be a comprehensive process, which boasts a host of consumer-oriented benefits to make the experience of buying, borrowing and closing on residential real estate transactions much more rewarding and palatable to today's home buyers. There are already a number of digital apps and components on the market that take one segment of the process and make it a wholly electronic experience.
Many people in California are interested in leaving a legacy that will live on after death. This may mean incorporating some form or forms of charitable giving into one's estate plan both during life and afterwards. People often associate philanthropy with tax benefits but there are many aspects of personal satisfaction that motivate charitable giving. If one has an interest in establishing a legacy of giving the easy way to start the effort is to bring it up to the estate planning attorney during the discussion stages of the process.
In California and other jurisdictions, the way that real estate is titled will have an effect on how the property is passed on to others. Thus, when an individual or married couple purchase real estate, it is important how the property is titled because that designation has an estate planning effect. If the new deed lists the grantees as husband and wife, for example, this is interpreted as meaning that the parties are joint tenants with the right of survivorship.
It is problematic in California and elsewhere for a small business owner to die without an estate plan. Without estate planning, the business assets will be divided up by the intestate (without a will) laws of the state where the business is located. This lack of planning allows for outcomes that the business owner may not have wanted. It's true that many famous people have died without a will or an estate plan, but the cost to their estates -- along with the stress and trouble to their heirs -- was nearly always immense.
A last will and testament prepared and executed in California is a legal instrument that generally disposes of one's assets after death. The will is an instrument that does not become legally operative until the testator dies. While still alive, the testator can make changes or modifications, or he or she may invalidate an existing will and make up a new one. Estate planning is a process in which wills and other legal instruments are used to create an interrelated web of legal mandates to control one's assets while alive and after death.
Do you have durable powers of attorney with your parents? With durable powers of attorney, you can make decisions on behalf of your parents for both financial or healthcare reasons if they become incapacitated. If you have been granted this responsibility, it means your parent’s have put full trust into you to make rational decisions on their behalf. If you do not understand your responsibilities for this role, it is important that you learn them. Not knowing how to properly function with durable powers of attorney can put your parents’ health and finances at risk.