Palm Springs Law Blog

Medical emergencies are usually the last thing that people want to think about in everyday life. But having a plan for any situation can provide you with invaluable protection and peace of mind. Writing out your wishes also makes it easier for your loved ones to care for you, even if you are unable to make decisions on your own. 

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If you've ever spent time in a hospital, you may have heard someone mention an “advance directive.” An advance directive is a legal document that outlines a person's wishes for emergency or end-of-life medical care. Medical directives should be made in advance of a medical emergency that makes an incapacitated person unable to communicate. 

Thinking about end-of-life scenarios can be emotionally challenging, and many myths surround advance healthcare directives. Understanding the myths and misunderstandings about advance healthcare directives in California can help you make informed decisions.

Palm Springs is a wonderful place for active adults to live and work. Along with neighboring Coachella Valley cities, Palm Springs is among the most appealing Southern California communities for those who want an active retirement lifestyle. 

The weather is nearly perfect, the food scene is excellent, and the laid-back desert community is ideal for people who enjoy their peace and serenity but also want to have fun. If you are an active adult living and working in the Palm Springs area, it's crucial that you create an estate plan that meets your unique retirement goals. 

Form a Retirement Plan

If Palm Springs is the desert city of your choice and you'd like to retire here, you may be wondering how to prepare yourself financially for it.

When you create your estate plan, you’re establishing your legacy. And if you’re someone with considerable assets, you might be thinking about donating some of that wealth to a beloved charity or two.

Your charitable gift can have a life-changing impact on organizations you love. But did you know that the right charitable giving strategy can also minimize estate taxes for your heirs and potentially even lower your tax liability during your lifetime? Here are a few charitable giving options to consider.

A Bequest in Your Will

This is probably the simplest way to make a charitable gift.

Thinking about your death isn’t pleasant, but estate planning is the best way to ensure your loved ones get the inheritance you want them to receive. Whether you have a complicated estate with a high net worth and several holdings or are working to pay down your debt, estate planning benefits you and your family. 

Understanding Estate Planning

Estate planning is the official process of deciding what happens to your money and possessions when you die.
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Discussions about advanced care planning are difficult, but if you should become seriously ill, knowing your wishes will help your family cope with end-of-life decisions. Telling loved ones about your preferences is a good start. Putting those preferences in a legal document called an advanced directive is even better.

You take steps to safeguard your money and property in life. But did you know that you can also use your estate plan to protect your assets from creditors, lawsuits, and even beneficiaries who overspend?

When it comes to protecting your assets during the estate-planning process, it can be challenging to know where to start. Every estate is different, but you might want to consider some of these often-successful tactics:

Making Your Business a Limited Liability Company (LLC)

If you run a business and a creditor comes after you for business debts, they might go after your personal assets if your business can’t pay up.
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The holidays are a time to reconnect with family and close friends. But this year, as you’re putting together that Thanksgiving feast or decorating the tree, you should make time to discuss the important topic of estate planning.

Why should you discuss estate planning during the holidays? It might seem counterintuitive and even a little gauche, but there are numerous reasons why the holidays are the perfect time to start talking to loved ones about planning your estate.

If you have recently experienced the death of a spouse, you know that the grief can be all-consuming. But as your grief begins to subside, you might find that the more mundane tasks associated with loss begin to surface. And one of those tasks is updating your estate plan.
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Starting and running a business takes serious commitment and excitement for your product or service — and when you run a family business, your loved ones may share your sentiments and want to partake in the business.

When you’re ready to make a plan to pass down your family business, an estate planning attorney can assist with creating a strong business succession plan. Take a look at these key tips to keep in mind for passing down your business to the next generation in California.
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The family-oriented community of Palm Springs is brimming with the entrepreneurial spirit, so it makes sense that many residents are interested in starting businesses. You may even be considering starting a family business. If so, the best way to go about it is often by creating a family limited partnership (FLP).

With a family business, it can be tempting to think that you and your family members can make your own informal agreement, but doing so can lead to financial, emotional, and familial disaster. A written agreement drafted by an experienced estate planning attorney can offer you and your family the security you need to protect your futures.
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