A lot of people do not understand why they need to consider working with an estate planning lawyer because they think it is a very simple matter. You draw up a will, and you have taken care of the responsibility, end of story. If you embrace this line of thinking, you are making a mistake because a well-constructed estate plan will be broader in scope. Simple Will Alternatives Obviously, your estate plan will be built around a document that is used to facilitate postmortem asset transfers, … [Read more...] about Does Your Estate Plan Include These Important Documents?
Estate Planning
Changing “Irrevocable” Trusts Through Use of a Trust Protector
Advisors often include irrevocable trusts as part of a comprehensive estate plan to achieve both tax and non-tax goals. The use of irrevocable trusts can cause apprehension because of the perception that irrevocable trusts are inflexible in changing circumstances. This article explores how the use of a trust protector may provide flexibility in an irrevocable trust to address these concerns. Read on to learn more. … [Read more...] about Changing “Irrevocable” Trusts Through Use of a Trust Protector
Estate Planning Reduces Stress During High Anxiety Times
During times of high stress such as tragedy or emergency, we tend to feel helpless. This article explores how a comprehensive estate plan helps reduce anxiety in uncertain times. Read on to learn more. … [Read more...] about Estate Planning Reduces Stress During High Anxiety Times
The Other Side of the Unauthorized Practice of Law
What happens when an individual who is not licensed to practice law provides advice to an individual – does the quality of the advice matter if the individual is unlicensed? This article explores the unauthorized practice of law and how it damages the legal profession. Read on to learn more. … [Read more...] about The Other Side of the Unauthorized Practice of Law
Dealing with a Negative Review
Online reviews have become commonplace. It’s impossible to ignore the convenience of being able to post a review from your telephone or computer – but what happens when the review is negative? This article explores what, if anything, can be done in response to a negative review. Read on to learn more. … [Read more...] about Dealing with a Negative Review
Is a Handwritten Will Valid in California?
Most people do not have any estate planning documents in place, but most of them know that it is something that they should get around to at some point. There are those that look for simple solutions, and they decide to get out a pen and paper and draw up a will by hand. A will that is handwritten that has not been witnessed is called a holographic will. These wills are recognized in about half of the states, and California is one of them. This being stated, there are some good reasons why … [Read more...] about Is a Handwritten Will Valid in California?
Three Steps That Lead to an Effective Estate Plan
Surveys find that most people that do not have estate plans in place recognize the fact that it is important. A lot of them are frozen with inaction because they do not know where to begin, and this is understandable when you are stepping into unknown territory. This in mind, we are going to look at three simple steps that you can take that will lead to the creation of an effective estate plan. Calculate Your Net Worth The first step is to inventory all of your assets so you know what you … [Read more...] about Three Steps That Lead to an Effective Estate Plan
Estate Planning Is an Ongoing Process
Estate planning is not a “one and done” endeavor if you want to effectively shape your legacy. The estate plan that you initially put in place will be based on your life situation and your financial position at that time, but the only constant is change. Family Dynamic Over the years, you may have additions and subtractions to the family, and this can trigger the need for an estate plan update. Unfortunately, a significant percentage of marriages end in divorce, and this is another major life … [Read more...] about Estate Planning Is an Ongoing Process
Do Transfer on Death Accounts Avoid Probate?
A transfer on death or payable on death account is an account that has a named beneficiary, and the assets are transferred to this beneficiary after the death of the original account holder. Probate is the legal process of estate administration. If you have a simple will, you would name an executor in the document. The executor would admit the will to probate after your passing, and the court would provide supervision during the administration process. Transfers to the beneficiary of a … [Read more...] about Do Transfer on Death Accounts Avoid Probate?
Donor Advised Funds: Too Good to Be True?
There’s a way to make a charitable gift and yet be able to influence where it goes and how it’s invested. This can be very handy if you want to time your charitable giving for income tax reasons. Read on to learn more. … [Read more...] about Donor Advised Funds: Too Good to Be True?
