The court-controlled process of administering your estate upon your death before distributing assets to your beneficiaries is not always smooth sailing. It can be expensive due to court costs, possible executor fees, appraisal and valuation costs, etc. Generally, the...
Estate Planning
Who inherits from their estate if the deceased doesn’t have a will?
One of the first steps that family members generally take when a loved one dies is to locate their will. Estate planning documents may be in the possession of someone's lawyer or in a safe in their primary residence. Locating the most recent estate planning paperwork...
Irrevocable trusts can be part of a comprehensive estate plan
For many people, irrevocable trusts can be a foundational element of estate planning. It can serve as a tool for asset protection, tax planning and preserving wealth for future generations. The benefits of establishing an irrevocable trust are multifaceted....
Why vacation properties can be complex in estate planning
If you’re making an estate plan, you may find yourself wondering what to do with a vacation property. Maybe your family owns a cabin or a beachfront property that has been in the family for generations. How do you include this in your estate plan? There certainly are...
Estate plans need to address sentimental items
Estate planning often focuses on major assets that have a substantial amount of value. These may be purely financial, like a bank account, a retirement account or a life insurance policy. They may also be tangible, such as a small business, a family home or a vacation...
3 financial obligations that can shrink an estate during probate
California probate proceedings involve court oversight while administering someone's estate. Typically, either someone's estate plan determines who inherits their property or state law dictates who receives their assets. Property that belongs to a testator becomes...
Estate planning: 5 common types of trusts
Trusts are a vital component of many estate plans, offering flexibility, control and protection of assets for future generations. They serve various purposes, as there are several types, each designed to meet specific needs and objectives. Understanding how trusts...
3 things to check in your estate plan after divorce
Going through a divorce is a significant life change that affects many areas of your life. Once the divorce decree is finalized, you must consider your estate plan. If you had one while married, it likely doesn’t contain the terms you want now. There are a few points...
How to choose an executor for your estate
Think of the executor of your will as its custodian, entrusted with safeguarding and executing your final directives. Therefore, it is essential to make deliberate considerations when choosing an executor, given the sensitivity of the role. Beyond the legal...
4 factors to consider when choosing a guardian for your child
Naming a guardian for your minor child is a crucial step when creating an estate plan. It's vital to designate someone to take care of your child when you are unable to. But you should make the right choice to ensure your kids are protected as intended. Here are four...