What is the best age to create an estate plan? The best age to create an estate plan is at eighteen, but what is the second best time? However old you are right now. The sooner, the better, because an estate plan is essential if you have many or few financial assets. Here is why:…
What is power of attorney? A power of attorney (POA) is a legal document that grants someone else the power to act in another person’s name. It can be used in a variety of circumstances, such as when a person is unable to handle their affairs or make decisions because they are incapacitated or out…
Owning property jointly with your spouse is fairly universal and there are estate planning benefits to doing so, including tax savings and post death transfers. However, when it comes to a divorce, there are some issues with joint ownership of which you may not be aware. This article will discuss the issue that arises with…
The two most important components of the estate planning process are a trust and a last will and testament. Most of us know about the structure and purpose of a will, but California trusts are a little harder to understand. Trusts have a more complicated legal structure, especially when compared to wills. Plus, with the…
If you’re the parent of someone with special needs, you know that your worries about your child extend far into the future. You may wonder what will happen to your child in the event of your death. Remove these worries with a special needs trust. If you want to leave property or money to a…
Trying to determine how to proceed with your assets during your life and after can be a complex question. When planning for an estate in California, you can choose between California wills and trusts for your property. There are a few differences between wills and trusts. The biggest difference is the transfer of property that…
What should be addressed in my will? Having a will is crucial to anyone that has assets. Those that die without a will are at risk of having the court decide who gets their personal property and financial assets after they pass. Many people feel that only older individuals need to have a will, but…
If you already have a will, you understand the importance of ensuring everything is for your family in case the unexpected happens. Over time, things change, the size of your family, your assets, your place of residence, and your employment status, for example. If you’ve experienced some major life changes or if it’s been a…
What is an estate plan? No matter how much we prepare mentally, most of us are never truly ready to pass away. There are many things to consider regarding how your family will carry on after you’re gone, including finances. Nearly 70 percent of Americans don’t have a plan set up for after they pass…
No matter our financial status, we all need to consider estate planning. If for nothing, a properly planned and executed estate could save our family’s prolonged litigations after our death. It can also provide families with some financial security and peace of mind. The sad thing is that most people don’t consider this for reasons…
