You may have heard that most people don’t have an estate plan. You may also have heard that one of the main reasons they give for this is that they’re going to do it later. They’re waiting until some hypothetical age when it’s time to start estate planning. The exact...
Month: July 2022
When do you need a pour-over will?
For many Californians, the document in their estate plan that details their assets and how they’re to be distributed isn’t their will. It’s a revocable living trust. A revocable living trust serves a number of purposes. Many people have them because they typically...
What is a statutory will?
The best way to form the foundation of a sound estate plan is by creating your final will. With it, you can express your wishes for dividing estate assets among your loved ones. Once you have it in place, you can continue to build your plan until it meets your needs....
When can a person challenge a will?
Your will is one part of your estate plan. Many people will have a will in place, but they’ll also have at least one trust set up. While a will is fairly simple to get set up, it’s also an estate planning component that might be called into question after you pass...
Are beneficiaries liable for estate debts?
If a loved one died with debts to their name, you might be worried that creditors will come knocking at your door as a beneficiary to the estate. However, you do not have to worry. It's only in certain circumstances that this can happen. Usually, the deceased's debts...