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Sacramento Estate Planning Attorney

Posts tagged "heirs"

Talking about inheritance still proves difficult


People in California may have seen a recent editorial article in the New York Times about the state of familial relationships and the difficulty of starting conversations about estate planning. Talking about anything related to death can be difficult and uncomfortable, but when it comes to financial planning for families and future heirs, not having the conversation can create a much more uncomfortable, even dangerous, situation down the road.

Casey Kasem's situation shows importance of powers of attorney


People in California probably know Casey Kasem as the voice of Top 40 radio and one of the most memorable personalities on the airwaves. Kasem died on June 15 at the age of 82, and according to reports, was the subject of a moving tribute marked by heartfelt speeches from family, friends and loved ones. However, things were not always so pleasant in the days and months leading up to Kasem's death, as a bitter family feud over his medical care erupted between his spouse and his children.

Estate planning should start early, experts advise


People in California know that millionaires and billionaires are created on a regular basis in the Silicon Valley and across the state. One of the most notable examples is Mark Zuckerberg, creator of Facebook and one of the youngest, richest men in the world. Zuckerberg's success wasn't due to luck, it was the product of a carefully crafted and prepared business strategy. Now that he has more or less entrenched himself as a success in the business world, he has also turned his attention to ensuring success at the next step, estate planning.

Preparation is key to managing an inheritance


People in California may have heard news of late on an issue that will be affecting many Americans in the coming years, whether they know it know or not. According to a 2011 study, the baby boomer generation will likely inherit a grand total of almost $8.5 trillion from their parents and heirs. The median amount for most of these beneficiaries is somewhere in the area of $64,000, a significant amount for anyone planning for retirement, helping their kids through college, paying debt, or working on an estate plan of their own.

Estate planning is the ultimate exercise in preparation


Successful men and women in California know that planning and preparation are critical ingredients in the recipe for success, so it should come as no surprise that preparation is also the key to maximizing that success for the greater good. People chart their course in a career much as they do in life, and with careful preparation and core values as guiding principles, they may grow to prosper and enjoy the wealth they have worked hard to create.

Estate planning to ensure inheritance


People in California may have seen a recent financial news article in Forbes, which discussed the issue of inheritance. Specifically, Forbes explained how people in the Baby Boomer generation may actually be leaning against leaving assets to their children when they pass on. In past years most people in the Boomer generation said they thought it was important to leave an inheritance. That number now sits at under 50%.

Keep your will and estate documents up to date, or else


California residents likely read and hear about the different mistakes people can make in their estate plan. For some Californians, the biggest mistake may be in simply not having an estate plan. Unfortunately, people who fall into these common traps may have their life savings fall into the wrong hands, or the money could languish in the court probate process for years. In both of these cases, it is the intended heirs that are deprive of their rightful inheritance, not to mention the issue without mounting legal expenses.

How to avoid common estate planning mistakes


People in California know that estate planning isn't something that happens overnight, and as life itself changes, the estate plan goes right along with it. An estate plan requires careful thought and reflection on a person's goals, aspirations, belief in the future, concept of what their financial contribution means in the grand scheme of life, and even their own mortality. It can be heavy stuff to consider, but the peace of mind that comes with a professionally managed and comprehensive estate plan is more than worth the labor, time, thought and emotions that go into the process.

Handling finances after death requires trust and experience


People in California know that the only constant thing in life is change. People watch their children grow up and have children of their own. Friends and neighborhoods develop and change, and people make plans to suit their wishes as they transition from full-time work to a peaceful retirement. A lot of changes are great; many bring joy and fulfillment to life.

Make time to think about estate planning


People in California lead busy lives, and most people like it that way. Not knowing what the day has in store can be an exciting and fulfilling way to live, but everybody still needs to take some time to reflect on the big picture. Part of getting the most enjoyment out of life means having the financial means to do so, so even the busiest Californians should take some time each year to meet with an experienced estate planning attorney about how to get the most out of their assets.

My Sacramento law practice, Michael A. Sawamura, Attorney at Law, focuses on wills, trusts and estate planning law in addition to business law and corporate defense services. My clients include professionals, government employees, small businesses, blue-collar workers and national corporations.

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