If a friend or loved one has chosen you to act as trustee over their estate, think twice before saying yes. You might consider the invitation an honor, but it’s one that comes with significant obligations. Failing to appreciate these trustee responsibilities can lead to legal problems for you and others if...
What Happens if Someone Dies Without a Will? Understanding California Intestacy Law
Having a will is not a legal requirement. For this reason, many people never take the time to create an estate plan, and they die without a will or any legal instruments in place.
When someone dies without a will, California intestacy law helps dictate who inherits what and...
It’s 2024. It’s Time to Make Sure Your Estate Plan Is Up to Date
In the new year, people tend to feel the need to get their lives together or more in order. You may resolve to work out more regularly, eat better, or get your finances straight. Regardless of your other new year “to-dos” or resolutions, checking in on your estate plan should be on...
New Year’s Resolution: Estate Planning?
The new year is the ideal time to start fresh and decide on some positive changes you want to make in your life. You may want to eat healthier, pick up a new hobby, or kick a bad habit. Here’s another idea to add to your list of resolutions: establishing an estate...
Tailoring Your Estate: Customizing a Dynasty Trust to Reflect Your Values and Goals
Your estate plan is more than just a legal vehicle through which you transfer assets to your loved ones after your death. The method you choose to accomplish this overarching goal communicates to your heirs and beneficiaries your values. Ensuring any estate plan reflects your goals is important, but with a dynasty...
Thinking of Naming Minor Children as Beneficiaries of Your Life Insurance Policy? Think Again
Having life insurance can help give you peace of mind in the event of your untimely passing, especially if you have young children. The proceeds from your life insurance can help support your children and protect their future.
If you’re trying to do right by your kids, you might...
End-of-Year Checklist: Essential Items You Need to Include in Your Estate Plan
Creating an estate plan isn’t usually a one-and-done event. Estate plans require occasional reviews with an estate planning attorney to ensure documents are accurate and continue to reflect your desires. The end of the year is the perfect time to go over your estate plan and make any necessary changes.
How Bank Accounts Pass on to Beneficiaries When Your Loved One Passes
There are many things to think about when you lose a loved one, including what happens to their money. A person’s bank account may be subjected to any number of withdrawals, distributions, or changes in oversight depending on how they had their account set up and whether they chose a beneficiary or...
4 Strategies to Ensure Your Legacy Is Protected for Multiple Generations
As the saying goes, Rome was not built in a day. Similarly, your wealth and assets likely did not appear overnight. It took years of hard work and smart investments for you to accumulate your property, and you understandably want yourself and your loved ones to enjoy the fruits of your labor.
The Tax Benefits of Dynasty Trusts in Estate Planning
A trust can be one of the most critical parts of an estate plan. There are several types of trusts to choose from. Each serves different purposes and helps you achieve your goals for the future.
Dynasty trusts are one common type. If you’re interested in determining whether...