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Medical professionals in California encounter life-or-death situations every day. However, few take the time to consider their own deaths. But like everyone, it’s important to plan their estates. While they may share the same estate planning issues as the rest of the...
A trustee is a person who manages and administers trusts. In San Diego and elsewhere, trusts are legal arrangements that set out specific terms and conditions for an individual or group of people. A trustee's role is to ensure that all follow the trust's terms and use...
Bypass trusts are an estate planning strategy that could benefit wealthy couples or people who have children from a previous marriage. This type of trust shelters your assets from federal estate tax up to the exemption amount, and it allows you to include other...
All California adults should consider creating an estate plan. However, you should know about the most common estate planning mistakes and how to avoid them. Not having an estate plan The biggest mistake you can make is not having an estate plan at all. If you die...
California allows you to create irrevocable trusts in your estate plan. An irrevocable trust is mostly set in stone, so you should be fairly certain before setting it up because you won't be able to revoke or modify it. The benefits of an irrevocable trust are...
Creating an incapacity plan, but it's not something to avoid. If something happens and you don't have one, it makes it harder on your family and friends. California defines incapacity as an inability to perform acts or make decisions. An incapacity plan allows capable...
California is a place full of many happy families enjoying life. With that said, an important part of life is talking about potentially uncomfortable topics with your parents. As your parents are getting older, it's imperative to know they have estate plans in place....
A trust and a trust fund in California seem like identical entities, but each one is defined by slight differences. Understanding the basic definitions comes before understanding the different types of trusts available for their owners and beneficiaries. The...
Creating or updating an estate plan when you're a new parent is important to ensure your child will have their needs met if something were to happen to you. California has laws surrounding wills and trusts that you should check before creating your estate plan. What...
When a person dies, there are many things that often occur before their estate reaches the designated beneficiaries. One of them is filing the will with the probate court. What is probate? Probate is the legal process of settling a deceased person's estate. This...