Palm Springs Law Blog

Monday, February 20, 2023

When Will I Be Able to Buy a Home After Filing a Chapter 7 Bankruptcy?

If you have bankruptcy on your record, it may feel like you won’t ever be able to achieve financial normality. However, that isn’t the case.

Bankruptcy often appears to result in permanent and irreparable damage to one’s finances, making it impossible to complete large purchases. Many people are unsure whether they can buy a home after filing for bankruptcy.

Fortunately, a skilled Palm Springs attorney can help you determine the best way to purchase a piece of property after experiencing Chapter 7 Bankruptcy.
Read more . . .

Friday, February 17, 2023

Properly Planning Your Aging Parents’ Care

As your parents get older, you may begin to worry about who will care for them in their final years. You likely have your own responsibilities and can’t afford to be a full-time caregiver. But that doesn’t mean that you want them to suffer as old age makes it increasingly difficult for them to take care of themselves.

With any luck, your parents have a plan for self-care and you won’t need to take any action. But if that isn’t the case, you can make sure that they spend their final years comfortably if you plan properly.
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Wednesday, January 25, 2023

Why You Shouldn't Put Off Estate Planning Until Your Retirement

Life is full of surprises. Although having conversations about retirement and end-of-life care is difficult, early-stage estate planning can give you and your loved ones some much-needed peace of mind.

Situations in life are ever-changing, especially when it comes to family and assets. As such, it's critical to consider the financial and social implications of your estate. While many people assume estate planning is something to be done later in life, the earlier you begin planning for your future, the better prepared you'll be.
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Wednesday, January 25, 2023

How Long Does the Process of Filing Chapter 7 Bankruptcy Take?

When debts pile up, many people pursue bankruptcy to resolve their financial struggles.

Depending on your situation, you can seek several categories of bankruptcies in federal court. For many California residents who lack substantial income or high-value assets, Chapter 7 is a quick and streamlined bankruptcy option that can help wipe debt from credit cards, loans, medical bills, and even past-due rent.

Not everyone will qualify for a Chapter 7 bankruptcy, but if you do, you should know what to expect during the process and how long you’ll need to wait for a typical case to resolve.

Chapter 7 Explained

Chapter 7 bankruptcies work by eliminating debts without a complex repayment plan.
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Monday, January 9, 2023

How Do Inheritance Taxes Differ from an Estate Tax?

Inheriting assets is one of the cornerstones of estate planning. When you prepare to leave behind a legacy, you’ll likely want to set aside funds and property for your loved ones.

Unfortunately, taxes are often a key concern for the parties involved when it comes to inheritances. Inheritance and estate taxes may sound the same, but critical differences set these two taxes apart.

Any tax collected upon death by state and federal governments can significantly impact heirs and result in severe implications for loved ones.
Read more . . .

Monday, January 9, 2023

Estate Planning Tips for Blended Families

Blended families are typical across California, but how do you ensure financial security for your spouse, children, and loved ones in these arrangements?

Although blended families bring biological and non-biological members together, California law often provides unique rights and protections for children of different spouses. Therefore, if you have a blended family, you’ll need to plan carefully to ensure that inheritances, guardianships, and other assets are accounted for.

Any financial planning process can feel daunting, but establishing a comprehensive estate plan will help prevent legal troubles for your family and loved ones down the road.
Read more . . .

Tuesday, November 29, 2022

How New Parents Can Benefit from Creating a Will

As a new parent, your child is the most important thing in your life. They are your future, and you can’t wait to watch them grow and thrive.

But as much as you want to be with them for every second of their childhood, you need to acknowledge that something might happen to you before your child grows up. If this unfortunate incident occurs, the best way you can protect your child is to have a will in place that looks out for their needs.

When Parents Die Without a Will

If you and your spouse die without a will, your child is the one most likely to suffer.
Read more . . .

Tuesday, November 29, 2022

How to Know If a Trust Is a Good Option in Your Estate Plan

Many people think estate plans are only useful for wealthy families and individuals. This view is deeply mistaken.

Developing an estate plan is an important tool for protecting your property and assets in the event of your death.
Read more . . .

Monday, November 28, 2022

Ways a Business Succession Plan Can Help Your Small Business

While there’s a fair bit of order in the business world, much of it is characterized by unpredictability.

Planning for both expected and unexpected eventualities is the best way to weather seismic shifts in your company’s operations, including changes in ownership caused by death, disability, or retirement.

Changes in ownership are both exciting and frightening.
Read more . . .

Monday, November 28, 2022

What to Include in Your Living Will

A living will is not the same as your last will and testament. Your living will describes your wishes while you are still living but unable to communicate. Specifically, your living will tells your family, doctors, and the courts how to make medical decisions on your behalf.

Read on to learn about what to include in your living will in California.

Living Wills, DNRs, and Healthcare Powers of Attorney

California law refers to living wills as advance health care directives.
Read more . . .

Friday, November 25, 2022

Challenges of Serving as an Executor to an Estate

When you are named as an executor of someone’s estate, it indicates an enormous amount of trust and respect. However, serving as an executor presents many potential challenges and difficulties.

Those appointed to this position are given certain ethical and legal rights and obligations. In the state of California, executors are held to a specific fiduciary standard.

If you have been named the executor of a late loved one’s estate, it is a good idea to speak with a skilled estate planning attorney.
Read more . . .

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