Family Law

What is Estate Planning in Simple Terms?

The legacy you leave after death can have a lasting impact on the ones you knew and loved. Often, the value that you have added to the planet with your life is extended by what your estate plan does years after you have moved on. Anyone concerned today about the future of their estate is rightly concerned. The financial climate now is quite unusual, and for many people foreboding. Interest rates are high and the stock market is down. Unemployment is not bad, but possibly driving inflation. In other words, there are many sources of concern, but the economy is still holding on.

To make sure that you’re doing what you need to do to achieve your future financial goals, you should have an estate plan in place. An estate planner can help you create one. After a plan is created, it will be executed and monitored to make sure it is working to meet your goals. It involves many decisions, that are best made in advance, with experts. For example, the situations when you want to avoid probate (spoiler alert: almost always!) and how to avoid it are important to identify and manage.

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Can a Trustee Be Held Personally Liable?

image of trustee hands signing a legal document for a trust

The United States is entering a new demographic era and as a result, a new era of estate planning. With the dramatic increase of the population entering their golden years, more and more households are using trusts and other estate planning tools. It is now a commonly used tool both in upper and middle-class families. As a result, more and more of the general population are being asked to serve as trustees. Emphasis on serve, because acting as a trustee really is service. It requires attention to detail and the ability to work with people, and the conflict which that sometimes entails.

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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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Types of Elderly Financial Abuse

Elder financial abuse is a very real situation that can cause immense problems for both the elder being abused and for an entire family in general. The behaviors of the perpetrators can be extremely damaging and may often require the abused to seek legal assistance. If family members contribute to the abuse of an elder, it is suggested that an attorney step in and assist in stopping the abuse and finding compensation. Who the perpetrators might be, their behaviors and which types of elderly individuals that may be at risk are all aspects of elderly financial abuse that should be addressed.

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Who Gets the Dog in a Divorce in California?

During divorce proceedings, the division of property is a common procedure most couples must go through. However, some divorcing couples can’t seem to see eye-to-eye on who gets the dog after the divorce. Dogs are often considered important members of the family and who the dog goes to may be very important to divorcing spouses. … Read moreWho Gets the Dog in a Divorce in California?