Contrary to what you may hear, you do not have to have lots of wealth or be nearing retirement to plan your estate in California. Taking a proactive approach to planning for your future can give you optimal control over your assets and the things that are important to...
Who are key figures in your estate plan?
When creating and reviewing your estate plan, you should always keep several key parts in mind. They often include your assets and financial information, your key figures, and key components. Key figures often hold particular importance. But who are these people, and...
How do first- and third-party special needs trusts differ?
When your child has a disability, you may need to take extra estate planning steps to make sure any assets you leave behind do not make your child ineligible for government help. Many California parents of children who have special needs establish special needs...
What happens if you do not have an estate plan?
If you are like most people, you do always not want to think about your estate plan. You do, however, need to think about it for the sake of your legacy. According to Huffington Post, there are several consequences to not having an estate plan. Lack of control If...
What are the benefits of a living trust?
Whether you are starting a family or are retiring from work, you may want to think about organizing your estate. An unexpected accident may leave you incapcitated and unable to make arrangements. Yet, with an estate plan in place, you can rest assured that your...
How should you handle digital assets in an estate plan?
In the past, you would not consider your online accounts as important when working on an estate plan. Old websites or account logins were less consequential after a person died. That is not the case anymore. Now, you should always include digital assets in your...
Steps to take when a loved one dies unexpectedly
When a family member unexpectedly dies, his or her loved ones experience shock, disbelief, sadness and other challenging emotions as they grieve. Eventually, however, practical considerations arise and the family must address the deceased person's estate. This...
What are California’s intestate succession guidelines?
Previous posts on this blog touched upon the fact that most American adults do not have any form of an estate plan. You may think that if you do not prepare a will, the job of determining the dispersal of your assets then falls to your potential beneficiaries (thus...
Key considerations when drafting a living will
When creating or updating your estate plan, you may want to devote careful consideration to your advance directives. Advance directives outline your wishes in the event that something happens to you and you become unable to make medical decisions on your own behalf....
Can you revoke a power of attorney?
An important aspect of planning for your future, both the inevitable and the unexpected, may include establishing a power of attorney. In this role, you may ask a trusted family member, friend or other acquaintance to act as your personal representative. Therefore,...
