Palm Springs Law Blog

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 . . .

Friday, November 25, 2022

Estate Planning for a Relative with Special Needs

If you have a relative with special needs, it is guaranteed that they will need financial, medical, and caregiving assistance for the rest of their lives. And if you are the primary source of that assistance, there is a good chance that your relative will need that assistance after you are no longer able to provide it. That is a terrifying situation that no one ever wants to face.
Read more . . .

Thursday, November 24, 2022

Estate Planning for Your Child Going to College

Estate planning may not be the first thing that California families think about when packing their children off for college. But this time of change for your family is an ideal time to take another look at your existing estate plan, see if it’s still meeting your family's needs, and set up some legal protections for your new college freshman!

Why is estate planning so important when kids go off to university? There are several very good reasons, both financial and healthcare-related. Here is a closer look at a select few.

College Students Are Legal Adults

When your child turns 18, you may no longer have input into their medical and health care decisions or access to their financial records. They can make their own decisions about healthcare, medical procedures, and financial decisions, including applying for loans and credit cards.
Read more . . .

Monday, October 3, 2022

Changes You Should Make to Your Estate Plan After Divorce

After a divorce, many changes will take place automatically due to the divorce decree. The final judgment in a divorce can order property division, custody, child support, and alimony.

But some changes will need action on your part. Some of these changes are simple, like changing your name. But others will require some thought.
Read more . . .

Monday, October 3, 2022

How to Make Sure Your Child Inherits Your Home

The goal of estate planning is to make sure your property is handled according to your wishes following your death.

The difference between establishing an estate plan and simply expressing your wishes to your heirs is that an estate plan is legally binding. The courts will follow the instructions you leave in a valid will or trust and can order others, such as executors, to follow those instructions as well.
Read more . . .

Monday, October 3, 2022

Ways Creating a Trust Can Protect Your Business

Small business owners face some unique problems when they're planning their estates. If a business operates as a sole proprietorship, the law might not distinguish between business and personal assets.

Before and after death, a business owner can benefit from the protection a trust provides. A trust for personal assets can draw a clear line between personal and business assets for protecting assets from creditors, creating a business continuity plan, and planning an estate.

Here are some ways that creating a trust can protect your business.
Read more . . .

Monday, September 5, 2022

Mistakes to Avoid When Writing Your Will

Even if you do not believe you have enough property to justify writing a will, a will can cover many matters unrelated to your property. For example, it can identify who will make healthcare decisions when you become incapacitated, designate guardians for your children, and convey your burial wishes.

Because wills can be so important when it comes to your descendants’ futures, it’s crucial to learn the mistakes to avoid when writing your will.

1. Writing a Will Without the Formalities

Under California law, a will must meet certain elements for a probate court to recognize it as a legally-binding will.

Read more . . .

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