It is understandable that some members of the LGBTQ community may be concerned about their privacy, when it comes to their estates and to whom they choose to leave their possessions. Actually, privacy is a common concern for the majority of clients, regardless of their sexual orientation. The good news is, you have many different options for creating an estate plan, which allows you to customize that plan so that your assets and your beneficiaries will remain as private as you want them to. … [Read more...] about Keeping Your Estate Plan Private with Trusts
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Protecting Business Assets from Lawsuits
Protecting business assets from lawsuits is something all business owners should consider. Asset protection simply means shielding your asset from creditors of all kinds. Selecting the most effective, and legal, methods to protect your assets is a concern for everyone, especially those who own their own business. But, remember, that creditors are not only bill collectors, but also anyone who obtains a legal judgment against you. That includes lawsuits. The best way to prepare for the … [Read more...] about Protecting Business Assets from Lawsuits
Standby Guardianship in California
Guardianships can be established for many different reasons. They can be created for the benefit of adults or minors. There is a special area of guardianship law referred to as “standby” or “pre-need” guardianship, which allows for the transfer of child custody under particular circumstances. Every state has its own position on this area of the law. Not all states recognize pre-need or standby guardianships. This article will discuss standby guardianship in California and how this tool can be … [Read more...] about Standby Guardianship in California
Long Term and Short Term Financial Goals
Like Benjamin Franklin said, “if you fail to plan, you are planning to fail.” If you want to be successful at most things, you must have a plan. The purpose of planning is to create the best circumstances you can for yourself, in the future. In order to see that your future goals are achieved, planning is a critical process in developing those goals. Planning generally includes both short-term and long-term goals. This is just as true in finance, as it is in other areas of your life. … [Read more...] about Long Term and Short Term Financial Goals
Which is Better: IRA or 401k?
Unless you happen to be independently wealthy, planning for your retirement should be a concern for you. The possibility of retiring on Social Security benefits alone is not very realistic. Most working age Americans are at somewhat familiar with 401ks and IRAs, as they are very common retirement tools. However, many clients want to know which is better, IRA or 401k? As with most things, there are both pros and cons associated with IRAs and 401ks. Deciding which retirement tool is the best for … [Read more...] about Which is Better: IRA or 401k?
Do You Have a Disaster Plan for your Farm Animals?
Disaster preparedness is important for all of us, including our pets and other animals in our care. That especially includes livestock. If you own a farm, you know that the size of the animals and their shelter and transportation needs make them a special burden. A disaster can happen any time, and anywhere. Danger can come from hurricanes and tornadoes, or even barn fires. Regardless of whether you need to evacuate or shelter in place, it is essential that you have a plan, so you can … [Read more...] about Do You Have a Disaster Plan for your Farm Animals?
Does bankruptcy affect retirement planning?
When individuals find themselves in financial distress, they often consider whether to file for bankruptcy. In that situation, it is common to be concerned about losing assets. A particular worry is: how does bankruptcy affect retirement planning? Will you be able to keep your retirement benefits, you worked so hard to obtain? Some retirement benefits are protected, depending on how you handle them. Cashing out before filing for bankruptcy Actually, cashing out your retirement account … [Read more...] about Does bankruptcy affect retirement planning?
What is a Closely Held Business?
When you decide it is time to start that new business, there are many different business entities to choose from. The type of business entity you decide on, will determine many things, such as the extent of your legal liability and how you and your business will be taxed. The most common types of business entities are sole proprietorships, partnerships, limited liability companies and corporations. Business can also issue stock, in an effort to raise income for expansion. Depending on how … [Read more...] about What is a Closely Held Business?
Considering a Pet Protection Agreement?
Have you already created your estate plan? What about your family pet? When you have a furry or feathered friend who has become an irreplaceable part of your family, you need to plan for your pet’s future, too. Without you, your pet will not have anyone to continue to provide his or her care, unless you have a plan. There are a few options, when it comes to pet estate planning. A pet protection agreement is one of those options. Benefits of a pet protection agreement A pet protection … [Read more...] about Considering a Pet Protection Agreement?
Do Healthy People Need Medi-Cal Planning?
You may think that, because you are pretty healthy now, you won’t need long-term care in the future. Hopefully, you are right. But what if you aren’t? Although you may not have any health issues right now, you cannot predict how healthy you will be in 30 or 40 years. More than two-thirds of people over the age of 65 need long-term care at some point in their lives. The reality is, healthy people need Medi-Cal planning, too. Why you may need long-term care, even if you are healthy … [Read more...] about Do Healthy People Need Medi-Cal Planning?
