If you are a millennial living in California, chances are you haven't given estate planning a thought. A recent survey of 15,000 millennials by Trust & Will indicates that three-fifths of their generation don't have a will and still need to set up trusts to pass...
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How should you factor your royalties into estate planning?
Royalties, often associated with creative works or mineral rights, play a role in many California estate plans. It is important to understand their implications. This way, you can strategize when you conduct estate planning and maximize inheritances. Incorporating...
Estate planning and the “third-generation curse”
California residents will pass a tremendous amount of wealth to their heirs in the next two decades as they direct assets to their children and grandchildren through estate plans. Yet, sometimes, those inheriting significant wealth mismanage it, leaving little to...
Avoid these California beneficiary designation mistakes
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...
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...