Posts Tagged ‘Estate Plan’
Should You Leave a Life Insurance Policy Outright to a Spouse?
Wondering if you should leave a life insurance policy outright to a spouse? Naming a legal beneficiary is necessary for life insurance, annuities, qualified retirement plans, individual retirement accounts, and some bank accounts. Ideally, these assets will be paid directly to whoever you have selected as your beneficiary in the event you passed away. The…
Read MoreOrange County Estate Planning Attorney Answers, “Are You Liable for Your Deceased Spouse’s Debts?”
As a rule of thumb, no one else is obligated to pay the debt of a person who has died. So, in general, you will not be responsible to pay off your deceased spouse’s debts. However, there are some exceptions that vary from state to state: If you co-sign on a loan, then you now…
Read MoreHow to “Marie Kondo” Your Financial Life and Streamline Your Estate Planning Process
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…
Read MoreHow Do I Talk to My Elderly Parents About Money Management?
While it may seem straightforward at first, there are a lot of details and difficulties that can get in the way of having the conversation with your aging or elderly parents. There are so many things to coordinate, and often the parent is less than helpful in the process. In this video, Kevin Snyder covers…
Read MoreApproaching the Conversation of Money Management With an Elderly Parent
Click to Listen to the Audio Version Estate Planning attorneys very often find themselves advising adult children of the elderly on the intricacies of managing their parents’ finances. While it may seem straightforward at first, there are a lot of details and difficulties that can get in the way. There are so many things to…
Read MoreBefore You Hire Before a California Elder Law Attorney…Ask These 10 Questions First!
You could never fit the dreams, goals, and desires of your family into a one-size-fits-all box. Nor can you fully anticipate the unique challenges, changes, and loss you and your loved ones may face ahead. As impossible as it is to predict your future and generalize your dreams, that’s how equally impossible it would be…
Read MoreNew Baby? Time to Create Your Estate Plan
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…
Read MoreWhy You Should Sweat the Small Stuff in Your Estate Plan
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…
Read MoreSweat the Small Stuff in Your Estate Plan
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…
Read MoreThree Legal Things to Do After a Scary Health Diagnosis
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 to…
Read MoreHow to Get Your Estate Planning Done in Just 10 Minutes
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…
Read MoreDamaging Celebrity Estate Planning Lessons We Need to Learn From
The recent passing of a few notable celebrities has shed some light on just how important comprehensive estate planning is for the protection of your estate and loved ones. Many of us know the singing legends, Aretha Franklin and Prince, but you may not have known that both of these superstars passed without a last…
Read MoreChecking Your Estate Plan: Is It a Trick or a Treat?
When was the last time you reviewed your estate plan? Do you know if it will work when you need it to and be a treat for your loved ones to manage? Or is there a nasty trick lying in wait? Get our Estate Plan Checklist to give your plan a quick audit. It’s no…
Read MoreThe Estate Planning and Conversations You and Your Spouse Need to Have
When was the last time you and your spouse discussed your estate planning? We know it is probably not on your list of “date night” conversations. In fact, many of our friends, family, and even professionals we work with tell us that once they create their estate plan, they consider it finalized and do not…
Read MoreTips On Creating the Right Durable Power of Attorney
We know that it can be challenging to think about who will handle your assets if you become unable to do so yourself. Although this concern starts with your money, have you thought about how difficult it would be for your loved ones to make not only those important decisions on your behalf but…
Read MoreDon’t Make These Common, Expensive Mistakes When Leaving an Inheritance to Minor Children
Most parents want to make sure their children are provided for in the event something happens to them while the children are still minors. Grandparents, aunts, uncles, and good friends sometimes want to leave gifts to beloved young children too. Unfortunately, good intentions and poor planning often have unintended results. Don’t make these common, expensive…
Read More5 Ways Estate Planning Says “I Love You”
There are many ways to say “I love you.” With Valentine’s Day coming up this month, most of us are thinking how we will communicate these important words to our spouses, kids, family and friends. Although the best way to convey how we feel is usually just to say it and act with love on…
Read MoreThe Pitfalls of a Do-It-Yourself Estate Plan and How to Avoid Them
When the term “Do-It-Yourself” or “DIY” comes to mind, what do you think of? A weekend spent working hard on a home improvement project? An evening putting together your kid’s new bicycle? DIT projects can bring a lot of joy and pride from realizing you’ve accomplished something great on your own. On the other hand, doing…
Read MoreWhat You Need to Know About Your Safe Deposit Box Before It’s Too Late
Do you know how to access a safe deposit box after the death of a loved one? Never fear, you are not alone if you don’t know the answer. While safe deposit boxes are commonly used to protect valuable items and important documents (such as a insurance policies, a will, or a trust), it is…
Read MoreA Quick Guide to California Transfer on Death Deeds
You may have heard the buzz about the new transfer on death deeds in California which provide a new way to transfer real property on death. Up until recently, the most common ways were through: A will; Owning property in joint tenancy or community property with rights of survivorship; A revocable living trust. Some of these…
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