Estate Plans

Creating a comprehensive estate plan is extremely important in order to ensure that your loved ones will receive that which you want them to. However, creating an estate plan often isn’t enough to guarantee this.
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There’s no doubt that having kids can be financially taxing. However, it’s important to note that not all children cost you the same amount of money. When you have multiple children, you likely want to ensure that your kids feel as though they are treated fairly and equally. For that reason, you may be thinking about splitting your property to be divided equally among them. But as mentioned, different children have different financial needs at different points in time.
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One of the benefits of purchasing real property is the fact that it will likely appreciate in value over time. But can you imagine having to pay a substantial amount more in taxes just because your home value increases? Here’s the good news: you don’t have to. Under California’s Proposition 13, your appraised property value may only be increased by a small amount annually – unless the ownership of the property changes.

For instance, imagine that you purchased a home back in 1993 for 200,000 that is now worth $1.5 million.
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After experiencing the death of a loved one, you may feel extremely overwhelmed without any sense of what to do next. That’s why it’s so important to have a list of steps that can help you to take care of the legal and financial matters of their estate. Here’s what to do for your loved one’s estate after they pass away.

1. Protect their valuable assets from theft.
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Many young people look forward to turning 18 and entering into adulthood. Once they reach the age of majority, they are now legally able to vote, marry, apply for a credit card, live independently, and make financial and medical decisions. But what happens if someone reaches 18 and is injured in an accident, requiring somebody else to make medical decisions for them? Unfortunately, this is a question that many parents must encounter when their children suffer an injury in an accident.

If a guardian is needed, as a parent you are not automatically granted the right to make these decisions. Heaven forbid you should find yourself in that situation, you would be facing expensive and lengthy court proceedings.
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There’s no doubt that we do more and more online each and every day. So while we tend to think of our physical assets when establishing our estate plans, it’s equally important to consider your digital life.
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While most of us know the importance of establishing a comprehensive estate plan, many of us don’t know the importance of updating it. Updating your estate plan is important for many reasons.
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Estate planning is important because it helps you to prepare for whom or where you want your assets to go when you pass away. Alternatively, when you fail to execute an estate plan, the state in which you live prior to your death makes this important decision for you.
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It’s comforting to know that when we pass, we have the ability to provide our families with our own property. But since we know our families and our assets better than just about anyone else, wouldn’t it make sense for us to create our own estate plan? While executing your own estate plan may seem to be the best solution (after all, think of all of the money you’ll save), it’s essential to keep in mind that it can be even more expensive to fix any estate planning mistakes that you make than it would be to hire an attorney who can ensure that it is done right from the very beginning.
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For many of us, retirement is the ultimate goal of working. Though we’d all love to retire early, most of us aren’t able to retire until after we reach the age of 65. However, while many people can’t wait for retirement, others find a real sense of purpose in their work. And sometimes, individuals who retire decide that they want to go back to working after all. So how do you know if coming out of retirement is right for you? Here are some signs that it may be in your best interest.
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From finding a place to live, to changing your driver’s license, there are many things that you may want to consider when you move to California. However, one thing that you should consider that you likely haven’t is whether you should change your estate plan.

When you move to California it’s important that you take into consideration the fact that California’s laws are different from those of many other states (and countries). Therefore the language in or the structure of your current Read more . . .