If you make a will you will be well ahead of many people. Yet, if you make it badly will, your advantage won’t be so clear. Here are some typical mistakes that people make that jeopardize the chance of their assets being distributed in the way they wish: Duplicate...
Year: 2023
How do incentive trusts work?
An incentive trust is one that incentivizes the beneficiary to do a particular thing. They only receive the payout if they complete or achieve the thing or things you stipulate. A few examples might be they must graduate from law school, or they must get...
Don’t make the mistake of procrastinating estate planning
Did you know that most people don’t have an estate plan? Everyone is going to need one eventually. But it’s still true that roughly 2/3 of people have never made a plan and do not yet have one in place. One of the main reasons for this is simply that people are...
2 steps you can take to protect your will from disputes
A will is the cornerstone of any estate plan. With a properly executed will, you can develop peace of mind knowing that upon your death, your hard-earned assets will pass down to the people and causes that are dear to you. But while a will is designed to articulate...
A special needs trust can ensure a lifetime of care
If you have a loved one with special needs, you may be worried about their future. How will they get by when you are no longer around? Who will manage their finances and provide for them? How will they maintain their eligibility for government benefits? A special...
Make your wishes known: The benefits of a living will
Suppose you are severely incapacitated by an illness or a catastrophic injury and unable to communicate your medical wishes effectively. How long should you be kept on life support? Should doctors attempt a delicate surgery that may keep you alive but reduce your...
Why digital estate planning is so important
Digital estate planning is becoming an increasingly urgent concern. To better ensure that your digital assets and online presence are properly managed and protected after your passing, it’s important to add digital planning terms to an existing estate plan or to craft...
A no-contest clause can prevent heirs from challenging your will
If you are worried that your heirs might contest your will after you die, you may want to consider a no-contest clause in your estate plan. Before you do, however, you need to understand their uses and limitations. A no-contest clause can’t legally stop someone from...
Why you should learn more about estate planning
Estate planning allows you to state your wishes should you become incapacitated or die. These include how to distribute assets, how to and who will raise your kids and who should make decisions on your behalf. Anyone above 18 years and of sound mind in California has...
Are there any disadvantages to creating a spendthrift trust?
Do you have an irresponsible spender among your loved ones? You’re not alone. Nearly every family has at least one member who has trouble holding on to money. You probably have concerns about what will happen to the monetary gifts you leave behind for these loved...