Once you draft an estate plan, it is important to remember that you do have the ability to modify the plan. Many people suggest reviewing your plan every 3 to 5 years. This gives you a chance to check for any potential updates that are necessary. In other words,...
Estate And Tax Planning Law Firm
Estate Planning
What happens to your digital life after you’re gone?
We spend much of our lives online, often without thinking about what happens to those accounts later. From photos and messages to financial tools, our digital presence can sometimes be just as important as our physical belongings. It’s easy to assume everything will...
How a special will can help fund a trust
Most people fully fund trusts when they initially create them. They promptly transfer financial accounts, real property and other valuable resources to the trust as funding. The trust then owns and controls those resources, giving the trustor protection and increased...
A solid estate planning strategy for avoiding guardianship
With age often comes gradual physical decline that reduces strength and flexibility. For some people, advanced age may also result in cognitive decline. They may struggle with memory and decision-making. Alzheimer's disease and other forms of dementia can leave people...
Irrevocable trusts can offer important benefits in an estate plan
Creating your estate plan is a way that you can let your loved ones know what you want to do with your assets after you pass away. These plans can have many components, including the will and trusts, both of which can stipulate who receives which assets. While it’s...
Is your trustee slow or becoming negligent under California laws?
When someone serves as a trustee in California, they assume a serious legal duty known as a fiduciary duty. Under California law, a trustee must manage assets with the care and skill of a prudent person. That means the trustee should act carefully and make thoughtful...
Tips to talk to loved ones about an estate plan
Most adults know that they should have an estate plan in place, but just creating it likely isn’t the end of what has to be done. Speaking to your loved ones about the estate plan is another step that you may need to take after you create the plan. Conversations...
What are unequal bequests?
When you leave assets to beneficiaries, they are known as bequests. In many cases, people will write their estate plan so that all of the bequests are relatively equal. Adult children may share ownership of real estate property, for example, or a parent may split up...
Estate planning can help address future medical challenges
Obviously, estate planning helps people address what will happen to their assets after they die. Wills and other estate planning documents can protect dependent family members and reduce the likelihood of conflict among beneficiaries after an individual's passing....
Important trust deadlines you should know as a trustee
Serving as a trustee involves many time-sensitive tasks. You may feel confident managing finances, but trust administration can still feel unfamiliar. After someone passes, your duties start immediately. You must follow the schedules set by the trust and California...