When you agreed to execute your friend’s estate, you probably never thought the role would involve selling some of the estate’s assets. Yet this may be necessary. There are two reasons to sell an estate’s assets Executing an estate is not always straightforward. Here...
Focused And Personalized Attention Concerning Your Estate Planning Needs
Year: 2020
Don’t forget about your business when estate planning
As a small business owner, it helps to realize that you cannot think about estate planning without including your business. If you fail to plan for succession, you may inadvertently devalue one of the most valuable assets you have to leave. What is business succession...
Why 2021 might be the time to update your estate plan
The current world situation has considerably reduced the country’s coffers. The government has needed to provide financial support to individuals and businesses. They may need to offer more. At some point, recuperating some of that money will become a priority....
Don’t forget these things when estate planning
When you think about creating an estate plan, some things are immediately apparent. For example, it is unlikely you will forget to arrange for your children to inherit your house. Yet, many people fail to make arrangements for other assets they own. If you forget to...
How can you legally prepare for Alzheimer’s?
If your parent had Alzheimer’s, you understand first hand the complications this can bring. You may have had challenges dealing with their personal and financial affairs. You will also know that Alzheimer’s is hereditary. If a parent had it, the chances that you will...
Should I use a living trust instead of a will?
Choosing how to set up your estate plan can be confusing. One of the most common areas of confusion concerns wills and living trusts. Some people may tell you that you need one, while others say you should choose the other. Others recommend you use both. Let’s look at...
Teach your children to handle money before you leave it to them
All those hours you spent slaving in the office will be in vain if your children burn through the assets you leave them while your ashes are still warm. Taking the time to teach your children about money while you were alive can help ensure what you leave outlasts...
Estate planning can help you avoid probate
There is a host of movies called “Dead Men Can’t something.” “Dead Men Can’t Dance,” “Dead Men Can’t Wear Plaid,” and so on. Probate exists because dead men can’t own property. If you want to avoid an asset going through probate when you die, you need to make sure...
Should I create an incentive trust?
When you become a parent, you soon learn how to motivate your child. If you have more than one child, you will notice that each responds best to different types of motivation. Creating an incentive trust is one form of motivating your children. However, while it works...
Does California uphold no-contest clauses in wills?
When creating your will, you might consider inserting a no-contest clause. It can act as a deterrent to prevent anyone from challenging your wishes. However, a California court will not always uphold a no-contest clause. When does California consider a no-contest...