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Palm Springs Law Blog

Wednesday, January 6, 2021

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 a Will), you have no control over who will receive what.
Read more . . .


Wednesday, November 25, 2020

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 not registered with the government.
Read more . . .


Wednesday, November 11, 2020

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.
Read more . . .


Wednesday, September 23, 2020

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, the individual must make under a certain amount of money and must not have enough money to independently support them. Money sitting in their bank account can be counted against their ability to qualify.

Due to this situation, it essentially works to prevent people with special needs from building savings whether gained through inheritance, gifts or earned income. This begs the question of how can they save money without jeopardizing these benefits?

Special Needs Trust

One option is to create a Read more . . .


Wednesday, September 9, 2020

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 upon how your estate value has been impacted.

Therefore it’s important that you speak with a knowledgeable and Read more . . .


Wednesday, August 19, 2020

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 the U.
Read more . . .


Wednesday, August 5, 2020

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 assets, it’s likely that many older Americans will leave their children and other heirs with bills when they pass. Does this mean that younger generations will be stuck with even more debt? Luckily, that’s probably not the case.

The last thing that you want to concern yourself with when mourning the loss of a parent or close loved one and tying up loose ends is to have to worry about how you’re going to be able to pay for any debts they did not pay off.
Read more . . .


Wednesday, July 22, 2020

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.

While most people worry that they haven’t saved enough money to comfortably retire, others worry about what may happen to their retirement assets should they not use them all prior to passing. This begs the question of what happens to your retirement funds in the probate process?

While most assets go through the probate process, not all of them do.
Read more . . .


Wednesday, July 8, 2020

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 is that Read more . . .


Wednesday, June 24, 2020

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 do so. Even after navigating through the era of coronavirus, if small business owners fail to establish an estate plan, some day when they die, the business will simply die with them.
Read more . . .


Wednesday, June 10, 2020

Should You Hire an Estate Planning Attorney?


From unclogging a toilet to building a house, with the Internet and sites like YouTube being more popular than ever, you can pretty much figure out how to do anything yourself. This can prove extremely helpful when you want answers now – and want to save money in the process. However, it’s important to understand what you should – and shouldn’t – do yourself.

One thing you shouldn’t DIY: your Read more . . .


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