The act of choosing a beneficiary lets everyone know who gets certain assets. Naming beneficiaries makes things easier for your family following your death. However, for this to work, there are mistakes you should avoid. Forgetting to choose a beneficiary Choosing a...
estate planning
How to develop a more inclusive and diverse estate plan
California is a state full of people who want to help others from all walks of life. One way that you can accomplish such an important goal is through the power of estate planning. Following a few simple tips lets you create or update your estate plan to focus on...
Protecting real property during estate planning
Estate planning in the state of California is always an arduous process because it brings up strong emotions. No one wants to think about dying. However, if you are responsible, planning for what will happen to your estate after you're gone is an absolute necessity....
Do you need to include shared property in your estate plan?
When planning your estate in California, it is important to consider all aspects of your assets. This includes assets that you share with others. Shared property, such as a family home or joint bank accounts, can pose unique challenges if you skip them in your estate...
Estate planning and your pets
Some California residents who are creating an estate plan may want to consider making provisions for their pets as well. Pets are legally considered to be property, and without a plan for them, they could be sent to a shelter. Including pets in your estate plan means...
Using life insurance for estate planning in California
In California, life insurance and other estate planning tools all serve the same purpose: to make life much easier for your loved ones when you are gone. Therefore, it's only fair to use them in tandem and not just rely on one method alone. Here's how the process...
A comprehensive guide to estate planning in California
A marriage commitment comes with significant effects on our wealth and estates. Many ignore this fact and concentrate only on the matter until things are out of control. Whether you are getting into your first, second, or third marriage, it is essential to consider...
Funded revocable trust in estate planning in California
California law gives you the freedom to decide how you want your loved ones to inherit your assets after you pass. You can choose to use a will, which would set forth your wishes in a document that becomes effective after your death. Or you may use a revocable living...
Holiday plans should include discussing your estate plan
If your family is like many others in California, the winter holidays are often the only time you and your adult children are in the same room together. This makes it an ideal time to hold a family meeting to discuss estate planning. Preparing for the conversation...
Leave something behind while protecting your estate
When a spendthrift is created in California, it is a trust that puts limitations on a beneficiary’s access to the funds that are within the trust account. There are two benefits to this type of estate planning tool. First, it sees to it that the beneficiaries you care...