When many people make an estate plan, they are just thinking about what will happen to their assets after they pass away. They want to make sure that both financial and tangible assets get distributed to family members, although they also plan to keep those assets...
Estate Planning
Why you don’t want to rely on California’s next-of-kin law
At the beginning of this year, California enacted a “next-of-kin” law similar to those on the books in the vast majority of states. The law allows medical facilities to designate someone to speak and make decisions for a patient who is incapacitated and unable to...
How to ensure adult children know what to expect from an estate
Parents often find it difficult to talk to their children about their estate plans. It can be difficult to talk at length about personal resources and finances with adult children who have begun running their own households. Many adult children anticipate receiving a...
A living will can help you prepare for the unexpected
Imagine a scenario where you find yourself incapacitated and unable to communicate your wishes regarding medical treatment. In such moments of vulnerability, is there anything you can do now to ensure your values and medical preferences are respected? The short answer...
What if an heir is too young for their inheritance?
When making your estate plan, you may be concerned about the age of one of your heirs. Maybe you want to leave them an inheritance, but they are young and impulsive, so you’re afraid that they will just waste any money that you leave to them. Or perhaps they are not...
Why an irrevocable life insurance trust is invaluable
One tool stands out as an invaluable asset in finance and estate planning: the irrevocable life insurance trust (ILIT). This powerful financial instrument serves various purposes, from helping protect your family's financial future to minimizing tax liabilities....
2 options for funding your California living trust
A living trust is an estate planning tool that allows you to manage and distribute your assets while living and after you pass away. Creating a living trust is wise, but you must fund it to have it operate as desired. In other words, an empty living trust is no good...
How to update your will
Your will is not effective until you die. This means you can update it when circumstances change in your life. But since it's a legal document, you have to make changes following the right procedures. You can legally update your will using two methods: Writing a new...
Including a caregiver in your will requires some planning
If you’re like many California seniors, you rely on a paid in-home caregiver or maybe a friend or neighbor to help you out with things you’re no longer able to do for yourself. You may even have more contact with that caregiver than with your adult children –...
Tips for storing and preserving your estate planning documents
A comprehensive estate plan is undeniably essential for you and your heirs. Like most people, you probably spent a lot of time considering how to structure your plan. Now that you have an estate plan that meets your needs, you want to ensure it remains safe and...