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...
Estate Planning
What are living trust mills?
Living trusts are helpful estate planning tools that allow you to organize your assets and their distribution after death. Some could benefit significantly from these options, but they are not for everyone. Others might have more losses than benefits if their estate...
How to prevent will disputes
A will is a fundamental component of any estate plan. This document determines who will inherit your assets. You can also utilize a will to designate guardians for your minor children and much more. Nonetheless, a will is only effective if it truly carries out your...
Can an executor’s bond be waived in California?
A personal representative/executor will manage an estate when probate time comes. They will be in charge of money and assets – they will pay debts and taxes and can sell property if it's specified by the will or authorized by the court. Due to the criticalness of an...
Guardianship in estate planning
An estate plan does more than allow you to distribute your assets -it lets you name a guardian who can take care of your minor children if you become incapacitated or die. You can name your chosen party in your will or draft a separate guardianship designation...
Why should you have an estate plan?
A common misconception is that estate plans are only for people with sizeable estates, multiple houses and valuable assets. While they will require more help creating a comprehensive estate plan due to the complexities of their estate, they are not the only ones who...
Getting a parent to create an estate plan without undue influence
As the parents of adult children move further into their middle age and senior years, even if they’re fully cognitive and relatively healthy, stubbornness can be an issue when it comes to addressing pressing legal matters. It can seem to many adult children like the...
Can my trust receive any remaining assets after my death?
When establishing a trust, there are instances when a person leaves out assets, whether intentionally or not. Some grantors purposefully do not include assets in a trust because it would be disadvantageous. For instance, insurance companies charge higher premiums for...
When is it reasonable to decline the estate executor role?
The events following a death could be unpredictable. Their family might need time and space to grieve or settle essentials following the loss. Additionally, they might face unique legal matters concerning the deceased's estate. The estate could undergo various...
When should you update your power of attorney?
Estate planning does more than designate assets to beneficiaries. The documents you include in your plan will protect all your wishes should you become incapacitated or die. And one of them is a power of attorney (POA), which authorizes someone to act on your behalf,...