Perhaps the largest part of most Americans’ wealth is in their qualified plan or IRA. Planning for these assets is one of the most important parts of the estate plan, for many reasons. This article will discuss the importance of beneficiary designations. Planning for Retirement Plans and IRAs: Beneficiary Designation … [Read more...] about Planning for Retirement Plans and IRAs: Beneficiary Designation
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Sager Family Shows Perils of Blended Families
Blended families require special planning. Communication of those plans is key to keep frictions to a minimum. This story examines the controversy in the family of sports reporter Craig Sager, who died in December 2016. Sager Family Shows Perils of Blended Families … [Read more...] about Sager Family Shows Perils of Blended Families
Tips for Managing Real Estate in Your Los Angeles Trust Administration
Often, an important part of Los Angeles trust administration is distributing real estate. Being a trustee can bring with it some unique issues when it comes to the distribution of personal property and, particularly, real estate. There are certain considerations that should be made when real estate is involved and our trust attorneys can explain some of the issues you may face. Tip #1 - Determine what the beneficiaries actually want to do with the property The first step in determining how to … [Read more...] about Tips for Managing Real Estate in Your Los Angeles Trust Administration
What is a Holographic Will and Should I Create One?
What many probate attorneys will tell you is that you need to at least have a will in your estate plan. A basic last will and testament is not always difficult to draft, especially with the help of one of our probate attorneys. For those who do not include a will in their estate plan, their property will be distributed to their heirs based on the California intestate succession laws, to which the probate court is bound. When it comes to estate planning and drafting a will, one of your options … [Read more...] about What is a Holographic Will and Should I Create One?
How to Handle Family Heirlooms in your Estate Plan
When you think of estate planning, it is important to recognize that your estate involves more than your money, your house, and your valuable personal property. There may be certain invaluable personal property that you consider to be family heirlooms which should not be overlooked. Those heirlooms have sentimental value that you simply cannot put a price on. Part of proper estate planning requires determining how you want those priceless family heirlooms distributed after your death. Our Los … [Read more...] about How to Handle Family Heirlooms in your Estate Plan
How Los Angeles Probate Attorneys Can Handle Language Barriers
Although Los Angeles probate attorneys can provide valuable advice during the probate process, the language barriers that often exist in Los Angeles can pose a challenge. With probate being a complicated process and each state having different rules regarding how the process will go, it is important for probate attorneys to be able to overcome any language barriers that may exist with clients. The diverse population in Los Angeles As most people are aware, a large portion of the population in … [Read more...] about How Los Angeles Probate Attorneys Can Handle Language Barriers
Estate Planning Attorneys Give Advice to Newlyweds and Young Families
Newlyweds present unique challenges in the area of estate planning. As they start their new lives together they will face many changes, including the addition of new families. As most estate planning attorneys know, it is a very wise decision for newlyweds and young families to put their estate planning strategies in place as soon as possible. The sooner you start, the better chance you and your spouse will be on the same page with regard to family issues such as guardianship of your minor … [Read more...] about Estate Planning Attorneys Give Advice to Newlyweds and Young Families
What Does California Law Say About Disposition of Remains After Death
Estate planning is one way to prepare yourself and your family for what happens after your death. Planning ahead gives you the opportunity to specify who will inherit your property after your death while helping you to reduce the taxes your estate will have to pay. Avoiding family heirloom disputes can also be accomplished with some planning. But one thing that some people neglect to consider as part of their estate planning is what they want to be done with their remains. In California, as in … [Read more...] about What Does California Law Say About Disposition of Remains After Death
How Will Tax Reform Impact Seniors and Persons with Disabilities?
The Tax Cut and Jobs Act (TCJA) is now officially law. Both the House and Senate passed the new tax reform bill in December with straight party-line votes and no support from Democrats. President Trump signed it into law right before Christmas. It is the first overhaul of the tax code in more than 30 years. In this issue of The Elder Counselor, we will mostly look at how this tax law is likely to impact seniors and persons with disabilities. It’s Good News for Most Americans Retirees, … [Read more...] about How Will Tax Reform Impact Seniors and Persons with Disabilities?
Southern California Elder Abuse Issues
It is unfortunate, but nursing home abuse and neglect is a far too common reality. When the time comes to consider whether to place a loved one in a nursing home, finding one that is safe becomes a primary concern. Many clients ask are county nursing homes safe. The fact is, every nursing home is different and there are certain protections if elder abuse is suspected. Here is what you should know. Nursing home abuse and neglect Regrettably, nursing home abuse and neglect are realities. When … [Read more...] about Southern California Elder Abuse Issues
