A trust is a legal arrangement where you give another party, known as the trustee, authority to manage your assets on behalf of a beneficiary or beneficiaries. There are several types of trusts to choose from, but a major difference is whether they are revocable or...
Year: 2022
Do you really need a will when you’re young?
It’s important to prepare for the end of your life. It’s something you know you should do, but six out of 10 adults in the U.S. don’t have a living trust or will in place. While most older adults have these important documents in place, many younger Americans have...
Understanding the purpose of pour-over wills
A living trust is a valuable estate planning tool for many Californians. A living trust allows you to maintain control over your assets while you’re alive. Then they’re relatively seamlessly transitioned to your beneficiaries – typically without having to go through...
3 assets that do not belong in your will
A will is one of the most important estate planning tools you can ever create. With a valid will in place, you can have peace of mind knowing that your assets will go to the right beneficiaries when you die. However, not all assets belong in your will. Understanding...
What is a Totten trust and how does it help your estate plan?
Creating an estate plan takes a lot of work because you have to ensure that you have everything set for your loved ones when you pass away. While you might be focused on the will that you need to create, there are other things to think about. When some people hear...
How to adapt your estate plan for your stage of life
It is best to consider your estate plan as something fluid and dynamic. You need to review and alter it as you go through life for it to serve you and your family as well as it can. Here are some stages to think about: When you first turn 18 years of age You might not...
Should I set up a spendthrift trust for my adult child?
You want to leave a substantial amount of money for your adult child to inherit when you are gone. Your plan has always been to provide enough for them to live on for the rest of their lives. However, in the last year, you have noticed that your child is recklessly...
How do you disinherit a family member without causing chaos
Everyone needs an estate plan regardless of the size of their assets. A properly written estate plan guarantees that your wishes will be honored when you pass on and that your assets will be distributed exactly how you want them to be. But what happens when things...
Executors need to do these 3 things immediately
If you were given the privilege to act as your deceased one’s executor then you were given a job of high honor. It goes without saying, your job is one full of trust, responsibility and timeliness to act out the deceased’s wishes. You could be held personally liable...
Estate planning after a serious diagnosis
When you received a serious medical diagnosis, it made you start thinking about your plans for the future. You realized that you didn't have an estate plan yet, so you decided that it was time to get one put in place for your family. This is a good time to do your...