As a young individual with a new or growing family, creating a will is probably low on your list of priorities. However, creating such a document is not only for the elderly or those who have major assets they need to protect. Gallup reports that fewer than half of...
Year: 2022
3 reasons to have a will
Every estate plan is unique to the person who creates it. Your individual situation dictates the documents that you include in your plan. While there is no requirement that your estate plan must contain a will, the American Bar Association points out a few ways it can...
How to create and maintain a valid will in California
Your will can provide instructions for how you want the courts to divide your assets. However, invalid wills can inhibit the probate process. When you begin estate planning, make sure you create a legally valid will. Valid wills You must voluntarily write your will...
How liquidity, disability and taxes may affect your estate plan
When you think about estate planning, your assets probably come to mind and your main concern is what you want to leave to your heirs. However, depending on the nature and extent of those assets, and even your state of health, there are other important aspects of...
What does a special needs trustee do?
Having a child who has a disability can be stressful. After all, not only must you address his or her present-day needs, but you also may have to continue to support your child when he or she becomes an adult. Thankfully, individuals who cannot work because of their...
3 signs it is time to revisit your existing advance directive
Even if you have had good health throughout most of your life, you simply cannot predict the future. Eventually, you may have to deal with a serious medical condition or life-altering injury. Even worse, because of incapacitation, you may not be able to make your own...
Should you review your estate plan after moving?
While it is important to build an estate plan in the first place, it is even more important to manage it over the years. After all, what was true to your life ten years ago likely no longer remains true to it today. But how do you know when it is time to review your...
How may I transfer assets to a trust while alive and after death?
The type of trust that you create may determine when to transfer property or funds to it. Forbes notes that with a living or revocable trust, you may add assets whenever you wish. During your own lifetime, for example, you may add and sell property held in the trust...
How can I keep my will out of the public record?
After a lifetime of hard work, ensuring the distribution of your estate among friends and family per your wishes is one of the greatest benefits of estate planning. By nature, will are very sensitive documents, and keeping them private during your lifetime is fairly...
What does a trust do that a will does not?
When you put together a California estate plan, you may create a will that allows you to stipulate who you want to take ownership of certain assets after your death. While a will plays an important role in any estate plan, there are certain things a will does not do...