If you are writing an estate plan, you are not obligated to make things equal. There is no legal requirement to leave the same amount of assets to all of your beneficiaries. If you want, you can certainly use unequal bequests. Although it is definitely up to you what...
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Estate Planning
Tips to reduce probate costs
Probate occurs when your estate is administered after you die. It ensures debts are paid and assets are distributed to beneficiaries. This process can sometimes be lengthy and costly. However, if you plan carefully, it is possible to minimize these expenses. Create a...
Steps to take if you suspect undue influence in a family will
The death of a loved one is always difficult -- discovering their will does not seem to reflect their life or expressed wishes can make things even worse. Now, you must wonder if someone interfered with your loved one's final wishes and if you should challenge the...
Sentimental items cause difficult estate disputes
Estate disputes can happen for many different reasons and surrounding a variety of assets. In some cases, it’s just about money. A group of beneficiaries has been left a significant sum of money that will change their lives, and they can’t agree on how that money...
3 reasons to revoke power of attorney authority
During the estate planning process, establishing a power of attorney is a crucial part of ensuring one's affairs are managed effectively in the event of incapacity or other narrowly tailored circumstances. A power of attorney helps by granting authority to a trusted...
What to do if you can not find the decedent’s will
The single most important document to locate after a testator passes away is their will. Their will contains the testator’s last wishes, including instructions on how their estate should be managed, who should benefit from the estate and who is responsible for...
Can you contest a power of attorney?
Your loved one may have appointed an agent through a power of attorney (POA) to ensure their affairs are well managed if they become incapacitated. Therefore, you have a right to be concerned about the agent’s actions or even the validity of the POA. In such a case,...
How can I minimize estate taxes in California?
We all want to leave an inheritance to the people we care about when we die. This explains why most people write wills. Done right, a will can ensure that your assets pass down to your dependents per your wishes. However, estate taxes (besides probate costs) can eat...
Are heirs and beneficiaries the same?
If you’re planning for the future, then you may be thinking about making an estate plan. An estate plan allows you to anticipate your passing and instruct what happens to your assets afterward. The main legal document in your estate plan is your will. A will includes...
Do children have to pay their parents’ debts?
Many types of debts still have to be paid even if someone passes away. Tax debt is one example, as the government still may want payments for property taxes or income taxes. Another example could be a car loan or a home loan. There are also minor costs like utilities...