The idea of losing your spouse to death may be very painful. However, death is a reality of life and you must take all possibilities into consideration when attending to your estate plan. This is especially salient if your partner is ill or it is otherwise apparent that he or she is likely to die before you do.
Often, persons starting on their estate planning journey have a keen eye on their beneficiaries: this is why living trusts are so popular, as living trusts often allow our clients to pass down big-ticket assets like property without the hassle of probate. However, if you happen to have a person with special needs in your life, the estate planning process becomes even more important.
If you are one of the few Americans who has a comprehensive estate plan in place: well done! However, just because you have made the initial strides and time investment does not mean that you never need to look at it again. Everybody is aware of the horrific impact that the COVID-19 virus has had on the world, affecting everybody from an individual level all the way up to the global economy. In this time of pandemic, it is more important than ever that you make sure your estate plan is up-to-date.
The course of both true love and finance never did run smooth. Up until very recently, prenuptial agreements were something for the rich and famous only. After all, for the rest of us mere mortals, love should be enough to sustain a union, right?
The good news is that trust administration does not work very differently than probate. Of course, one of the reasons that you are likely going through estate planning is to help your heirs avoid probate, so this may not sound like a good thing at first.
The passage of Prop 19 has serious implications for property owners in California. In an attempt to stay ahead of these massive changes to the market, we have already been exploring the ways that Prop 19 has been affecting the estate plans of California homeowners.
Now that we are nearly ready to ring in the new year, it is a good time to take a step back and take stock of your estate plan. Many things have changed over the past year (and there's a great deal of uncertainty about the future in many aspects), so taking the time to ensure that you have everything in order is paramount. An updated estate plan is a key component in creating peace of mind in 2021.
For the majority of Americans, the most expensive item they will ever buy is a home. Thus, it comes as no surprise that properties tend to be a linchpin concerning estate plans. It is important that you weave your estate throughout your home buying process to ensure that you are well-placed in terms of taxation and inheritance.
No matter how you celebrate the holiday season, this time of year is a popular time to take a step back from the hustle and bustle of everyday life. It is a time to focus more on our families and the things that bring us joy. It is also common to give presents at this time of year to celebrate our most important relationships. Present-shopping can be a bit of a challenge for many Americans, particularly when one is shopping for someone who seems to have everything.
A big part of ensuring that growing older comes with grace is forethought and planning. The elderly have a unique set of challenges as they navigate the golden years. This is because matters involving healthcare and asset protection can be so complex. In the event that you or a loved one are dealing with the ravages of dementia, the need becomes more urgent.