We all want what is best for our family; however, in order to accomplish such a task, we need to think about the future and the what-ifs. For some California residents, this process is not always easy, but the reality is that estate planning can accomplish essential...
Focused And Personalized Attention Concerning Your Estate Planning Needs
Estate Planning
Should children always receive equal shares in an estate plan?
It's probably safe to say that the majority of people who prepare estate plans in California leave their children equal shares of their estate. But, is this always the best way to do it? Are there times when it is actually fairer to leave unequal shares to the...
Don’t postpone estate planning until it’s too late
Many people in California know they should prepare an estate plan, but they put it off. There are a lot of reasons people postpone estate planning. Some think it will be a lot of work, some believe they are too busy and some avoid it because they don't like to think...
Dying without an estate plan can lead to family strife
In California, when someone dies without a will or trust their property is distributed according to the state's intestacy laws. If there is a surviving spouse, it all goes to him or her. If not, it goes to children in equal shares, with the share of any deceased child...
Estate planning is about more than preparing for death
Many people in California postpone estate planning for the simple reason that they don't like to think about their own mortality. That is very human and totally understandable. Yet it is important to keep in mind that a solid estate plan is about much more than giving...
Whether Prince had an estate plan is unknown
The death of music legend Prince at the age of 57 earlier this month took many people in California and around the world by surprise. Another surprise may be in store for his family members: at the time this post was prepared, it was still unclear whether he left a...
How should an estate plan deal with sentimental property?
In last week's post we talked about the importance of providing instructions for the disposition of family heirlooms and other tangible personal property in one's estate plan. These items often have little or no monetary value but a lot of sentimental value....
What property to include in California estate planning?
When a person decides to begin the estate planning process, one of the first tasks is taking a general inventory of their estate. But, what assets are included in one's estate under California law?In California, a person's estate includes everything that a person...
Income inequality and estate planning in California
Income inequality has become a major topic of political discussion in California and across the United States. Over the past couple of years, the media has published countless articles about the amount of wealth controlled by a small percentage of Americans. And, in...
What are the critical documents in a California estate plan?
A California estate plan is set out in a series of key documents prepared before one's death. We discussed one of these documents, the durable power of attorney, in last week's post.Beneficiary designation forms are another important part of an estate plan, and often...