The death of a loved one is an unfortunate but unavoidable time for families throughout California. One way people can provide for their loved ones after passing away is with a proper estate plan. And there's almost no more vital role in someone's estate plan than the...
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Estate Planning
Word worth in estate planning
Estate planning in California is essential to protecting your family’s financial future. However, believing what anyone says without question can lead to costly mistakes, especially in trust litigation. To clarify, it is essential to understand the concept of word...
Strategies for challenging a power of attorney
Financial planners encourage people in California to execute power of attorney (POA) documents in case of an unforeseen emergency. The POA allows the principal to name an agent to act on their behalf in financial and/or healthcare matters. The document generally takes...
California hospitals must contact your next of kin
California hospitals must consult with your next of kin if you become incapacitated or have an accident. The person the hospital contacts can make healthcare decisions since you cannot speak for yourself. However, hospitals must do this only if the state has a...
Wills and revocable trusts in conflict: What happens?
Some people in California who are planning their estate might decide to use both a will and a revocable trust. These tools have different functions and ideally will complement one another, but there are also situations in which the instructions in each one conflicts...
Problems for heirs inheriting a California home with a reverse mortgage
Agents sell reverse mortgages to seniors who need money to meet their living expenses. When the senior dies without paying the reverse mortgage, the heirs generally have between one and six months to turn the home over to the mortgage company or pay off the loan...
Take care to recognize undue influence over your estate planning
When deciding what will happen with your estate upon death, you must have the capacity and freedom to make your own decisions. Unfortunately, in undue influence cases in California, someone can manipulate an individual into making estate planning decisions in their...
Advantages and disadvantages of revocable trusts
A revocable trust can be an outstanding estate planning tool under the right circumstances for people in California. You remain in control of your estate with a revocable trust, unlike an irrevocable one. There are other advantages and some disadvantages. Advantages...
What should every California estate executor know?
If a deceased person leaves behind a will, they will choose an executor for their estate. If no will exists, a California probate court appoints an executor. This person takes on the financial responsibility for sorting the estate's debts and assets. Fiduciary duty...
What is a generation-skipping trust, and what are its benefits?
There are plenty of options for leaving assets and property to your loved ones in California. Among them is a generation-skipping trust. If you are interested in this option, it’s crucial to understand what it entails and the benefits it offers. Understanding...