Creating an estate plan helps safeguard your assets and provide for your loved ones in the future. However, misconceptions surrounding estate planning can lead to confusion and potential mistakes. Here are a few myths about estate planning that people commonly...
Year: 2023
3 bad reasons to put off writing a will
Writing a will is arguably the most effective way to cement your legacy. After all, with a legally valid will, you can leave assets to those who mean the most to you. After you die, your loved ones can enjoy your gifts while remembering you fondly. According to...
How to pass property to loved ones outside of probate
Estate planning allows you to take action and secure the transition of your assets and personal items to those you designate within your documents. When setting out to determine how to create an effective and fair estate plan, you may want to consider other tools you...
Caring for a disabled child through estate planning
Parents of children with disabilities face unique challenges when creating an estate plan. Providing for the financial well-being and care of a disabled child requires careful consideration of various factors, including government benefits, special needs trusts and...
How can you leave money to a minor child in your will?
As you probably know, college has become almost unaffordably expensive in recent years. In fact, according to CollegeCalc, the average yearly tuition for a four-year school in California is currently more than $14,000. You can ease the burden on your grandson or...
Living trusts and other strategies to avoid probate
The probate process can prove challenging, especially in terms of lengthy time commitments and court-related expenses. Furthermore, probate disputes sometimes surface, fracturing family relationships. Those who wish to avoid probate should carefully review their...
How can you leave your home to your child?
If you own a home, you are undoubtedly holding onto considerable wealth. In fact, according to Redfin, the average home price in the Monrovia area is well over $1 million. Because of the competitive housing market, your home also is likely to increase in value in the...
Should you update your will after welcoming a new grandchild?
Will writing is something many individuals put off seemingly forever. Indeed, according to reporting from CNBC, almost 70% of Americans have no estate plan at all. If you have already finalized one, though, you must be sure you regularly review and update the...
3 tips for business owners when creating their estate plans
Running a business takes a lot of time, money and dedication. Owners should protect their investments with estate plans to ensure the companies continue operating if they die. Business owners should consider the following things when creating their estate plans. 1....
Secure your child’s future with an estate plan
As a new parent, you are wise to think about an estate plan. Having an estate plan in place allows you to provide for your child's security and well-being no matter what happens to you or when. Kiplinger describes some specific documents that you should consider...