Laying out an estate plan is no easy feat. The challenges that often arise can come up in a variety of contexts, too. Those with blended families, young children, and a desire for asset distribution that is anything other than evenly divided amongst loved ones need to carefully consider how their estate plan is drafted to obtain desired results. While this may mean the creation of a will and a number of trusts, estate planning is about much more than just determining how one's assets will be distributed upon his or her death.
Many California parents worry about their children's futures. This can be especially true when a child has special needs. These children often need additional support that is both emotional and financial in nature.
Most people who think of estate planning only consider the transfer of tangible property upon death. Others may think about how debts play into the distribution of an estate, too. Yet, there are a whole host of other types of property that can carry tremendous value. Failing to appropriately address them in an estate plan, though, could mean that they wind up in the wrong hand.
Famed singer Aretha Franklin is well-known for her vocal work while with Motown Records. Her music has inspired a generation, and it continues to be heard across the world. While her talents continue to be celebrated long after her death, Franklin is also well-known for something else: failing to create an estate plan to deal with the distribution of her assets.