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
People with estate plans should feel that their assets and loved ones are secure in the future. That’s true, but an estate plan doesn’t mean it ends there. The Grantor of a trust may need to update their estate plans from time to time to ensure that their plans comply with the latest laws and … 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
Who is the Personal Representative? A personal representative is the person who represents the estate of a person who died without a Last Will, or intestate. The Probate Court has the duty to select the person best suited to take the responsibility. The descendants can not choose the person but they can nominate someone … 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
Pets are Family Do you have a pet that you consider as part of your family? You may have a dog, cat, bird, reptile, or any other animal that provides you with unconditional love and companionship. Pets have always been an important component for the lives of many people, and in some cases, pets are … Continued
Why Have Rental Property? Renting out property is an excellent way to generate income while your property’s value appreciates. In fact, each year more and more people are purchasing property with the intent to rent it out. As with any investment, there are some risks to be aware of. These risks are very important to … Continued