Estate Planning

The Differences Between Revocable and Irrevocable Trusts

You have probably seen someone– a non-lawyer likely– selling living trusts, offering numerous promises, including “saving money,” avoiding probate, and reducing or avoiding taxes. Some salespeople will say that living trusts ensure privacy or can be used to prevent actions by creditors, including the government and health care providers. There are even trust “mills” that pump out trusts with little to no regard for the actual needs and desires of clients. It is imperative to make sure that you hire an expert to achieve your objectives. Attorneys have studied trusts in law school, know the place of trusts in an estate plan, and can provide a holistic solution for their clients that consider all of the circumstances of the household. Below, we will discuss the differences between revocable and irrevocable trusts and how a proper lawyer can help you achieve the goals mentioned with the correct legal instrument.

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How to Incorporate Your Digital Life into Your Estate Plans

How to incorporate digital life into an estate plan

In this modern age, our digital life has become almost as important as our normal everyday lives. Our online accounts, emails, social media profiles and digital subscriptions are all a part of our daily routines, so it’s natural to think about what will happen to them when you pass away. An estate planning attorney can … Read moreHow to Incorporate Your Digital Life into Your Estate Plans

What Are the Benefits of Micro Estate Planning?

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Traditional estate planning can reduce your taxes, eliminate large probate fees, and give you security for the future. However, you might be unfamiliar with a brand-new estate planning term: micro estate planning. What Is Micro Estate Planning? Long-term planning is important, and it should still be considered in your overall estate planning process. However, it … Read moreWhat Are the Benefits of Micro Estate Planning?

Aretha Franklin’s Death Without a Will is a Reminder to Think About Your Estate Plans

The Importance of Having a Living Trust in California

According to documents filed in probate court, Aretha Franklin left no will or trust behind when she died. Without proper documentation of her assets, a net-worth estimated beyond $80 million and rumored debts, figuring the true worth of Franklin’s estate will likely be controversial and take time. If Franklin voiced any wishes for her estate … Read moreAretha Franklin’s Death Without a Will is a Reminder to Think About Your Estate Plans

Will I Get My Spouse’s Inheritance?

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Inheritance laws help control the rights of the decedent’s property and how much is inherited by each of his or her survivors. California is a community property state, which means the law presumes all property acquired during a marriage is owned equally by both spouses. However, property one spouse owns alone before a marriage or … Read moreWill I Get My Spouse’s Inheritance?

The Importance of Having a Living Trust in California

The Importance of Having a Living Trust in California

How Will You Prevent Lengthy Probate Proceedings? The basic purpose of a living trust is to ensure that an appointed trustee of your choosing gains all property or other assets upon your passing or incapacity. If the individual who is in control wants to change details of the trust, they can apply for a revocable … Read moreThe Importance of Having a Living Trust in California

5 Important Estate Planning Lessons You Should Know

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According to research conducted by the University of Pennsylvania, only 29.3 percent of Americans have a healthcare directive specifying their end-of-life wishes. Perhaps even more stunning, a survey from Caring.com found that less than half of adults in the U.S. have prepared estate planning documents, such as wills or living trusts. Here are five tips … Read more5 Important Estate Planning Lessons You Should Know

Your Will – And Other Important Estate Planning Documents

The Importance of Having a Living Trust in California

Your will is an important document that can ensure that your property will make it into the right hands once you pass away. Without a will, your property is at risk of being divided according to California’s rules of interstate succession. While these rules will mean that your property will be passed down, it is … Read moreYour Will – And Other Important Estate Planning Documents

Can I Make Sure My Assets Are Not Distributed Through the Probate Process?

The probate process involves the court distributing a person’s assets upon death. It usually occurs in situations where a person does not have a will. However, just because a person has a will does not mean that their assets will definitely not be distributed through the probate process. What to Do to Prevent Your Assets … Read moreCan I Make Sure My Assets Are Not Distributed Through the Probate Process?