As we reach the midpoint of the year, it’s an ideal time to pause and review your estate plan. Life can change in unexpected ways, and ensuring your estate plan remains current is crucial to protecting your legacy and providing for your loved ones. Top Five Mid-Year Checkup Tips for Your Estate Plan 1.Review Major … Continued
Losing a loved one is always difficult, and there are often additional challenges after someone’s passing when sorting through the decedent’s affairs. When someone dies, their assets are evaluated by the probate court so beneficiaries and outstanding debts are identified. The first document the probate courts request is a Last Will. In the case no … Continued
Estate planning is often overlooked by just about everyone. People go on with their lives without a plan for their future, and they live in the present moment. But there are only disadvantages to not planning ahead. Even celebrities will succumb to these consequences if they did not plan for their estate. Prince “Prince Rogers … Continued
Probate Who? You’ve heard about probate, but do you actually know what it is? Do you hear positive or negative things about probate? Who goes through probate? Probate is the legal procedure that occurs when someone dies affecting their assets. The probate court evaluates and distributes these assets. The first step in probate … Continued
Where There’s No Will, There’s No Way Have you ever wondered what happens when someone passes away without a Will? How often do people pass away without a Will? Do people from all financial backgrounds die without a Will? Before all the above questions are answered, it’s important to understand the terminology surrounding Wills. If … Continued
Estate Planning is an Essential Do you often hear the term “estate plan” in conversations with friends, colleagues, or family members? Estate planning is a crucial topic, especially as we age. It offers a comprehensive strategy to safeguard your finances and health, providing peace of mind. Regardless of your age, creating an estate plan early … Continued
What is a Living Trust? One of the most popular tools in estate planning is a “Living Trust” due to its flexibility. When a grantor creates a living trust, they can transfer ownership over their assets into the trust. The trust will allow the grantor to take control of these assets even when the ownership … Continued
What is DIY? Do-it-yourself (DIY) has become a popular trend for those who have the time to learn and apply skills for a variety of projects, including making an estate plan. This is possible because the internet makes learning materials available to anyone who needs them. But, when choosing to DIY for your own … Continued
What is a Special Needs Trust A Special Needs Trust (SNT) maintains the finances of a disabled individual who may need help managing them . Also, SNT allows the individual to continue to receive government benefits such as SSI and Medicaid/Medi-Cal. Creating a Special Needs Trust has many benefits but you must be aware of the … Continued
Why Do Rich People Have Estate Plans? When you hear the term estate plan or Trust, what is the first thing that comes to mind? For some of us, the first thought may involve very wealthy people. Their “Trust Funds”, overseas bank accounts, commercial property, etc. Estate planning is also very effective for everyone’s … Continued