The most basic estate planning tool is a will that establishes how an individual's property will be distributed and names beneficiaries to receive those assets. Unfortunately, there are circumstances when disputes arise among surviving family members that can lead to a will contest. This is a court proceeding in which the validity...
3 Things a Simple Will Does NOT Do
Unfortunately, many people do not realize that crafting an estate plan involves more than just creating a will. A will cannot accomplish many things you may want in your estate plan. They can, however, deal with issues such as naming and executor, stating who will be a guardian for your children, and distributing...
Estate Planning and Second Marriages
Estate planning can be difficult, but it becomes even more complicated when you are planning after your second marriage. There are different issues you need to address when creating a plan after your first marriage. For example, you may want to plan for children born from the first marriage or...
A Brief Guide to Powers of Attorney
There are several types of powers of attorney. A power of attorney is a legal document that permits another person to deal with your personal affairs on your behalf. They are often used in the event that you become incapacitated or unable to deal with your own financial, health, real estate, or...
Understanding the Probate Process in California
What happens during the probate process in California?
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The death of a loved one is always traumatic and will require a considerable amount of time to process. In the midst of your grief, you will likely also find yourself struggling to untangle the financial issues that often exist after a death. It is...
Common Disputes that Lead to Estate Litigation
When someone creates a will or trust, he or she assumes that the document will be iron-clad in terms of legality and clarity. However, this is unfortunately not always the case. Disputes can arise when loved ones do not agree with the will or trust. Conflict regarding the validity of an estate...
Responsibilities and Obligations of the Executor/ Administrator
When a person dies with a will in place, an executor is named as the responsible individual for winding down the decedent's affairs. In situations in which a will has not been prepared, the probate court will appoint an administrator. Whether you have been named as an executor or administrator, the role comes...
How does life insurance fit into my estate plan?
Life insurance can be an integral part of an estate plan
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When is a person unfit to make a will?
Testamentary capacity refers to a person’s ability to understand and execute a will. As a general rule, most people who are over the age of eighteen are thought to be competent to make and sign the will. They must be able to understand that they are signing the will, they must understand the nature...
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Family Business: Preserving Your Legacy for Generations to Come
Your family-owned business is not just one of your most significant assets, it is also your legacy. Both must be protected by implementing a transition plan to arrange for transfer to your children or other loved ones upon your retirement or...
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