Posts tagged "estate planning"

Dealing with retirement accounts during estate planning

Many people have retirement accounts and other investments, as well as Social Security benefits that they have worked hard to earn and build. Although these individuals hope to take advantage of these resources when the time comes, they don't always live long enough to do so. In those instances, major questions can be raised about how those assets will be distributed. Without an effective estate plan, those financial resources may be passed down to someone who doesn't deserve them.

Is a simple will enough for your estate planning needs?

Estate plans can look different depending on the assets, individuals, and wishes involved. While newly created estate plans can vary from person to person, these plans can evolve over time as modifications become necessary to reflect life's realities.

Don't forget to address digital assets in estate plan

It wasn't that long ago that everything a person owned could be physically touched. Money, items of personal property, journals, and even photographs could be held in one's hand. Nowadays, though, much of our lives has be digitized. Thousands of dollars can change hands without ever touching paper money, and our most cherished memories are often stored somewhere online. While this convenience may make our lives easier, it can make estate planning trickier.

The ancillary probate process and how to avoid it

Many Californians own significant property that they want to protect for their heirs and beneficiaries. Although these individuals may be familiar with estate planning and how it can be utilized to avoid the long, drawn-out probate process, they may not be aware of how assets that are owned out of state will be handled upon their passing.

Estate planning is crucial for those with serious illnesses

It's a scary reality that millions of Americans live with a chronic illness. In fact, some statistics indicate that more than 130 million people are affected by these conditions, and that number is only expected to grow for the foreseeable future.

Have confidence when drafting your will

On its face, estate planning can seem relatively easy, especially for those who just want to leave their assets to their spouse or children. For these individuals, a simple will may suffice to meet their needs, but even these documents can be fraught with legal issues. For an example of the complexities and confusion that can arise when a will is improperly handled, just read our recent post about Aretha Franklin's estate and her handwritten wills. To avoid potential problems related to the creation of a will, Californians should consider working closely with an estate planning professional.

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