ClickCease

Estate Planning

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 . . .


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 . . .


Monday, September 5, 2022

Estate Planning for Small Business Owners


Almost everyone can benefit from an estate plan. But for small business owners, an estate plan could help your business avoid litigation or even liquidation upon your death.

Small business owners face different tax issues, including estate tax, that many salaried employees never worry about. Depending on the ownership structure of your business, your estate could own a piece of your company's assets and get taxed accordingly.

Why Estate Planning for Small Business Owners Is Different

Small business owners have different concerns than employees.
Read more . . .


Monday, September 5, 2022

What to Know About Charitable Trusts


Charitable trusts can help you support a tax-exempt charity and earn a tax deduction at the same time. These trusts do not necessarily make up part of your estate plan, but they can include provisions that activate at your death.

Charitable trusts are governed by complicated IRS rules. To make sure a charitable trust distributes your assets as you intended and earns the tax deductions you expected, you should consult a trusts lawyer and a tax expert before creating one.

Read on to learn some facts about charitable trusts.
Read more . . .


Wednesday, October 20, 2021

Overcoming Common Fears About Passing Down Wealth


When you have worked hard over the course of your lifetime to accumulate wealth, you may worry about what will happen to it if you choose to pass it down. You may even have questions about who you wish to pass it down to. These are not uncommon fears that many people have as a result of not having the necessary conversations. Here are some of the most common fears of “sharing the wealth,” and how you can overcome them.

You’re afraid that it will create a sense of entitlement among your children.
Read more . . .


Wednesday, October 6, 2021

Estate Planning? Don’t Forget Your Digital Assets


When you are establishing your estate plan it’s important that you remember to include all of your assets. And while this may seem easy, with more and more things turned digital, it is important not to forget about your digital assets.

What Are Digital Assets?

Digital assets include any account or service online that requires you to log into it or that is protected in some other way.
Read more . . .


Wednesday, September 8, 2021

What to Know About Cash Availability Planning


Life is expensive. Money is necessary to help us in our daily lives. That’s why if you become disabled or pass away, your loved one may need to be able to access funds to continue to pay for necessities. But what can you do if all of the money is in your name or in your trust? That’s why cash availability planning is so important.

What Are Your Options?

Cash availability planning is the process of ensuring that your loved one has access to cash when you are disabled or deceased.
Read more . . .


Archived Posts

2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014



Riverside CA Estate Planning Bankruptcy



© 2024 Heritage Legal, PC | Disclaimer
777 Tahquitz Canyon Way, Suite 328, Palm Springs, CA 92262
| Phone: 760-325-2020

Estate Planning | Probate / Estate Administration | Living Wills | Trusts for Minors | Estate Tax Planning | Estate Planning for Homeowners | Durable Power of Attorney | Intestate Succession Laws | HIPAA Authorization | Spendthrift Trusts | Living Trusts | Importance of Updating Beneficiaries | Naming a Guardian for Your Child | | | LGBTQ | Testimonials | Upload | Locations | Articles

-
-


©  Heritage Legal, P.C.| Privacy Policy | Disclaimer | Terms of Service | Attorney Website Design by Omnizant

©  Heritage Legal, P.C.| Privacy Policy | Disclaimer | Terms of Service | Attorney Website Design by Omnizant