If you’ve heard of a 529 Plan, you probably think of it as a means of education funding for your children or your grandchildren. These plans are sponsored by state agencies or educational institutions, and they’re available to people of all income brackets. While a 529 Plan is a great tool for saving for
A comprehensive estate plan should address all of your assets. For most people, an estate plan must include three common categories: (1) your home; (2) financial accounts, like your checking and savings account; and (3) personal property. Other types of assets – such as life insurance, retirement funds, and annuities – should also be considered
Listen to the Audio Version If you’re not familiar with Marie Kondo, take some time this week to watch one of her videos on YouTube or check out her new Netflix series, Tidying Up with Marie Kondo. It’s incredible to watch the relief and joy that people experience just by implementing her simple strategies to
Click Here To Listen to the Audio Version It’s the end of the school year and graduations are in full swing. As your “baby” steps into adulthood, you might not realize that you will soon lose the ability to help your child or make healthcare decisions (even though you may still be paying the bill!)
Whether you live in Orange County or somewhere else in California, many of us believe that estate planning is simply instructions on how to distribute your assets when you pass away. From that perspective, estate planning is often viewed as something one does only after they have acquired substantial assets. While one major benefit of estate
When a California home or other real property is transferred to another person, its Proposition 13 tax base will be reassessed. There are only limited exceptions to re-assessments in California when a home is transferred among certain family members: namely between parents and children and in some cases between grandparents and grandchildren (but only if
One of the common things to do when it comes to estate planning is to only focus on what happens when you die and ignore planning for the possibility of a medical emergency where you may not die but are temporarily or permanently incapacitated. Think accident, head injury, stroke, sudden cardiac arrest, early onset
Estate planning is often one item that gets pushed back on nearly everyone’s to-do list. That’s especially the case when you are so focused on loving and caring for your new bundle of joy. The other reasons you might be delaying vary: lack of time, not thinking you have enough assets, not knowing how to
When planning their estates, most people focus on major assets, such as business interests, real estate, investments and retirement plans. But it’s also important to “sweat the small stuff” — tangible personal property. Examples include automobiles, jewelry, clothing, antiques, furniture, artwork, photographs, music collections, personal papers, collectibles (such as stamps, coins or baseball cards) and
A scary health diagnosis can be emotionally and logistically challenging for many reasons. For instance, how can you take care of your family if you’re physically incapacitated? In addition to working closely with your medical providers, consider these three legal tips: Check your estate plan with your attorney to make sure it is up
Research tells us that the majority of Americans today still do not have estate planning in place and only a third of parents have properly named legal guardians for their minor children. That’s problematic because life happens to all of us and gives none of us a heads up. But our message this week is not about
Sadly, most Americans are indifferent to estate planning – at best – or completely ignore the issue – at worst. When it comes to estate planning, however, there are just some mistakes that you and your loved ones cannot afford. Some mistakes involve ignoring common sense such that it would be like seeing a wad
The New Year is here! Do you ever find, as we do, that the years tend to fly by the older we get? We know just how busy this year is already because it is for us, too. Between work and the holidays and getting the kids back in school, it feels like there is
The year 2018 has been no stranger to natural disasters. From multiple earthquakes, back-to-back hurricanes, and raging wildfires, the United States and abroad has suffered some serious natural disasters. These acts of nature can devastate your life and your family. Who knows what 2019 will bring. In addition to creating a disaster preparedness plan for
Many people think that if they die while they are married, everything they own automatically goes to their spouse or children. They’re actually thinking of state rules that apply if someone dies without leaving a will. In legal jargon, this is referred to as “intestate.” In that case, the specifics will vary depending on each