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Many people think estate planning only has to do with passing assets down to your beneficiaries. This isn’t the case. You can also set up your plan for what will happen if you’re incapacitated. One component of this is designating a power of attorney for your...
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...
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...
Has a close friend or beloved relative designated you as the trustee of one or more trusts? If so, it is wise to know what is expected of you as a trustee. The administration of a trust involves completing many detail-oriented tasks. Even a seemingly simple mistake on...
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...
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...
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...
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...
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...
Being diagnosed with a terminal illness is scary enough. It’s even worse if you haven’t set aside an estate plan. But it’s not too late. It’s crucial to use the time you have left to lay out your wishes to avoid having your assets handled haphazardly or irresponsibly....
