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,...
What qualities should a health care proxy possess?
While planning your estate, you learn of something called a "health care proxy." This person ensures medical professionals honor your health care desires if you become incapacitated. Do you know how to choose the right person for this critical role? Learn what...
Probate, qualifying assets and the new small estate law
Laws seem to change almost daily and in the world of estate planning, the rules concerning a decedent’s assets and probate are no exception. As of January 2020, California law allows assets that fall under the new “small estate” guidelines to avoid the probate...
Transparent estate planning can help avoid probate
When a parent dies, their estate plan directs the estate’s executor in distributing assets to creditors and heirs. Estate plans assemble legal documents like living wills, life insurance policies, retirement plans, and wills that outline the decedent’s final wishes. A...
