Your estate plan should cover what happens to your assets when you die. Yet, you might have concerns about leaving assets to a particular person. You might be unsure if they are ready to handle it, and having worked hard to build this wealth, you don't want them to...
Estate Planning
4 factors to consider when choosing a health care agent
When drafting an estate plan, you need to name a party who will make medical decisions on your behalf (a health care agent) if you become incapacitated. An advance directive for health care (sometimes called a living will) allows you to list your medical wishes, such...
A closer look at the process of administering a trust
If a friend or family member is getting their California estate plan in order, they may ask you to be in charge of administering their trust. This individual is otherwise known as a trustor or person who establishes a trust. Preparing for this important role means...
3 ways to protect your heirs from a lengthy probate process
If you want to protect your loved ones from a lengthy probate process in California, start the preparation process early. The probate process can drag on for quite a while. This is difficult for many families because those receiving an inheritance won’t have access to...
Making the right choice for your attorney-in-fact
Choosing an attorney-in-fact is an essential part of your California estate plan. The person you choose can make legally binding decisions on your behalf. You grant this authority with a document called a power of attorney. You can limit the power of attorney to...
What to do about family heirlooms when making your estate plan
If you live in California and are creating an estate plan, it is important to think about more than just your traditional assets. In addition to real estate, your bank account and investments, you might also have family heirlooms. It would be a mistake to assume that...
Serving as the executor of your parent’s will
If your mother or father dies with assets left in their name, those assets will likely need to be probated. In the event that you're named as a parent's estate executor, you'll play a key role during the probate process. Your duties will typically include securing...
Estate planning and charitable giving
Supporting causes such as disaster relief, animal shelters, environmental sustainability, youth programming, and housing for people experiencing homelessness may be an indispensable way of championing the causes for which you believe. In life and beyond, supporting...
Why many California residents use a spendthrift trust
Trusts are a common part of many estate plans. Many people don’t realize there are several kinds of trusts, including a spendthrift trust. This popular option allows grantors to more specifically manage how their beneficiaries receive their inheritance. What makes a...
Discussing estate plans and wills with parents
While discussing estate plans with parents may be uncomfortable, doing so could help avoid significant problems in a California probate court. Older parents might not have the most comprehensive estate plans, and aging adults facing health issues could pass away....