If you have a pet that has become a member of your family, planning for their future is an important step to add to your general estate plan. There are many different ways to establish a pet estate plan, and they all have advantages and disadvantages. One method is to use a power of attorney. How does a power of attorney work? A power of attorney is a legal document authorizing an agent to act on someone else’s behalf. In this case, the authority would be to act on behalf of your pet. Even … [Read more...] about Can I Use a Power of Attorney for My Pet Estate Plan?
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Does California Medi-Cal Provide In Home Services?
Medi-Cal is a healthcare assistance program created for the benefit of individuals with low income. Federal, state and local tax funds are used to assist eligible individuals in paying their medical expenses. Typically, Medi-Cal recipients are not required to pay for any covered medical expenses, except for a small co-payment. Medi-Cal is run by the state. California’s Medi-Cal program is called Medi-Cal and it provides free or low-cost health coverage for California residents. The Medi-Cal … [Read more...] about Does California Medi-Cal Provide In Home Services?
How to Distribute Assets to Beneficiaries
If you have been given the important role of being a personal representative of the estate of a loved one, you have many duties and responsibilities ahead of you. As the impartial representative of everyone who has an interest in the estate, it is your job to take possession of the property of the estate and distribute it pursuant to the terms of the will or the laws of intestate succession in California. Knowing how to distribute assets to beneficiaries will help you understand what will be … [Read more...] about How to Distribute Assets to Beneficiaries
Keeping Your Estate Plan Private with Trusts
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
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?
