A power of attorney is an extremely crucial part of the estate planning process. This legal document plans for your incapacity or inability to make vital decisions on your own. If you were to become gravely ill, lose consciousness following a car wreck or slide into a...
Estate Planning
Understanding probate and how to avoid it
When you die, your estate will go through probate. This court-controlled process is used to validate your will and ensure it is executed based on your wishes. When described in this way, probate seems simple. Unfortunately, this is not always the case, and there are...
Estate planning: What is a Power of Attorney?
You might think that your family will automatically manage your affairs and make financial or health decisions on your behalf when you become incapacitated. However, it is not the case. For instance, a bank won’t let your kin withdraw funds from your account without...
What a will can do for you
If you’re young then you may not have thought about estate planning yet. If you’re an elderly individual then you may feel intimidated by the process. The truth is that estate planning can benefit anyone and drafting a will is something that you should certainly think...
What you need to know about disinheriting family members
Creating an estate plan is the responsible thing to do. This is true for everyone, even if you have limited assets and no children. However, when you create your estate plan, you should remember – it’s not a “set-it-and-forget-it” legal document (documents). As your...
What is the testamentary capacity to create a will?
Everyone should create a will. This estate planning tool articulates your wishes regarding how you would want your hard-earned to be distributed when you pass on. Without a will, California intestacy laws will make this decision for you – and that may not be close to...
How can you help your parents plan their estate?
Thinking about losing your parents is painful and something no one wants to do. If you’ve recently found yourself in a position where your elderly parents have asked you to help them plan their estate, where should you start? Talk to them about their plans The first...
Blended families require careful estate planning
If you have children and then marry someone else who also has children from a previous relationship, you’ve created a blended family. This can be a beautiful thing, a wonderful way for families to expand and children to get to have new sibling relationships. But it...
3 parts of a comprehensive incapacity plan
Thinking about a time when you won’t be able to make medical or financial decisions for yourself isn’t pleasant. However, if you don’t plan for this possibility, then it may leave a stranger in charge of your assets and life. It’s possible to prevent this with a...
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...