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As you make your estate plan, you may consider splitting everything up equally between your beneficiaries. Maybe you have four adult children, so you’re going to leave them all 25% ownership of the family home or the vacation cabin. Maybe you have $1 million in your...
While there are numerous steps to estate planning, drafting a will is usually the first. A will allows the testator to name beneficiaries. These are individuals or organizations that assets will be given to upon the testator’s death. A will can also carry out several...
California is a state that allows terminally ill patients to determine when and where they will make their final exit from the world. First signed into law in 2016, the California End of Life Option Act was later amended in 2022 to shorten the total period of the...
Probate is a very important part of estate administration, and it is done according to the instructions in a will left behind by the testator. Probate gives the executor of the estate ample time to review the will, submit the will to probate court, contact...
When you pass away, you know that your adult children may need to have access to financial accounts fairly quickly. They may need to pay for emergency medical care, for instance, depending on the nature of your passing. They may also have to cover funeral costs and...
Establishing a medical power of attorney (POA) is one of the most important steps you can take when you’re putting together an estate plan. However, you need to have a heart-to-heart conversation (or several) with your chosen POA, just to make sure that you are both...
Writing an estate plan is important for your future and for your family. Far too many people haven’t written a plan at all. They’ve left no instructions for the distribution of their assets or what end-of-life care they would like to receive. However, even among those...
Your life insurance policy is set to make a substantial payment to your adult children when you pass away. You purchased the policy when your first child was born, knowing it was an easy way to provide for them in the future. This may be the most valuable asset that...
Most people understand that they will need an estate plan at some point in their lives. They’re going to pass away and they need to – at the very least – leave behind a will to tell their descendants what to do with their financial assets. Many are also aware that...
You can make your medical preferences known for a time when you cannot express them yourself and possibly at the end of your life in an advance health care directive. Sometimes, these are referred to as living wills. In your advance directive, you can address various...
