One part of estate planning involves designating a person to take charge of your estate after you die. Since many believe in the keep it in the family motto, they automatically choose a relative—typically an adult child—to act as an estate administrator. Sometimes,...
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Estate Planning
Is there a specific age for estate planning?
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...
What should you do with family heirlooms?
As you do your estate planning, some of it seems fairly straightforward. If you have financial accounts, you can divide them between your children. If you have real estate, you can leave it to all of them or sell it and split the money up between them. But what about...
Having powers of attorney can help you in times of crisis
When making your estate plans, it is important to anticipate the uncertainties of life. A sudden illness or an accident can leave you incapacitated and unable to make decisions surrounding your finances or health care. In such a case, you need someone known as an...
Tips for first-time estate executors in California
You probably felt honored when a friend or family member asked you to perform estate executor duties after their death. Hopefully, you gave the matter considerable thought before agreeing to take on this critical role. A position as an estate executor comes with many...
3 solutions for your California home in your estate plan
For many people living in California, their house is their most valuable property. It has both intense sentimental value and also more financial value than any other assets in their names. If your home represents a significant portion of your personal wealth, then it...
Tips for dividing the jewelry in your estate
The harsh reality is that your adult children probably don’t want the vast majority of your keepsakes. Maybe they’re minimalists, or maybe they have a house full of their own stuff – or maybe their tastes just drastically differ from yours. However, Mom’s diamond...
Some key components of an estate plan
No matter what age you are, it’s a good idea to consider the value of estate planning. Estate planning generally refers to a set of legally binding documents that outline your financial, medical and legal preferences in the event that you are no longer able to make...
2 things that are often overlooked in your estate plans
Thinking about your estate plan might bring up thoughts of your will and trusts. But, these are only some of the things you need to include when you create the plan. You also have to consider other points that might have a direct impact on your heirs and...
Will your family want your heirlooms when you die?
You inherited your china from your great aunt and have brought out those dishes on special occasions for years. Given that you have maintained them in pristine condition, you might dream about leaving them to a child or grandchild who will cherish them the way you...