Other Reasons for Estate Planning Aside from Distribution of Assets
You’ve probably heard of the importance of estate planning, but you still may not know its real purpose. It is certainly true that estate planning is used to ensure that your loved ones receive your assets and are cared for after you pass away.
When you die intestate (without...
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Naming Your Trust: Tips to Keep in Mind
While we know that the decision of what to name a child is extremely important, most people are unaware of the importance of naming your trust. Unlike other legal entities, such as corporations and LLCs, there are no laws when it comes to naming your trust. This is because your trust is...
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What to Know About California’s Intestate Succession Laws
For those who own a home in the U.S., it’s a good idea to establish an estate plan in order to be sure that your home goes to whom you desire when you die. Placing your home in a trust can be a good option, since it will also help your loved ones...
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CalABLE Accounts Help Those with Special Needs
When someone is living with a disability that makes them unable to sustain gainful employment, Social Security Income (SSI), Medicaid (known as MediCal in California), and other government benefits can often help to put a roof over their head and food on their table. But in order to qualify for these benefits,...
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Has COVID-19 Impacted Your Estate Value?
You’d be hard-pressed to find someone who hasn’t been at least slightly impacted by the coronavirus pandemic. For many Americans, it has greatly injured their livelihoods and financial health. As we move forward in light of COVID-19, it’s important to determine whether any of your estate planning documents must be revised based...
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Do Basic Wills Work for Blended Families?
It’s no secret that having a comprehensive estate plan is in the best interest of you and your family. Wills in particular are strongly encouraged by legal professionals. But for blended families, are standard Wills still in their best interest?
This is an important question for about 25 percent of...
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What Should Heirs Know About Paying off the Debts of Loved Ones?
As our economy continues to suffer as a result of the coronavirus pandemic, millions of Americans are experiencing severe loss of income as well as mounting debt. For Baby Boomers and older Americans who have planned and saved for retirement, this was far from expected. Instead of leaving their children with large...
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Designated Beneficiaries or Your Will: What Takes Priority?
As you make a living, you likely contribute a percentage of your income each paycheck to your retirement fund. If you work for yourself, you (hopefully) put away an amount of money for the same each month. As a result, your retirement ends up being one of your largest assets.
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Probate and Long-term California Cohabitants
While marriage used to be standard for cohabitation, such is no longer the case. Many people choose to cohabitate with each other without being married. However, despite the absence of a marriage certificate, long-term partners or companions are often as dedicated and connected as those who are married. The main difference though...
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Planning for the Future of Your Business
As the COVID-19 pandemic continues to wage war on the American economy, small businesses are feeling the effects. Many business owners are left wondering about the future of their companies. But with so much else going on, they often fail to proactively plan for the future. Now is a great time to...
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