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With careful planning, you can create an estate plan that respects your choices and protects your loved ones, whether they're biological or chosen family.
As you pack your bags and prepare for your next adventure, there's one crucial item that often gets overlooked: your estate plan.
What happens to your accounts and files when you become incapacitated or pass away? Learn more about digital assets and estate planning.
Are you in a same-sex relationship? Are you married or domestic partners? Have you and your same-sex partner talked to an estate planning attorney, or even given estate planning a second thought? If not, you need to consider doing so sooner rather than later, not only to protect your partner, but to protect yourself as well.Each state provides a default estate plan if you fail to plan your estate. This default estate plan comes in a one-size-fits-all rule for what happens to your property [...]
Once a person makes a last will or living trust, they often will put it in a safe at home or safe deposit box at the bank and forget about it. However, there are many reasons to review and update your living trust and other estate planning documents. Below is a checklist of events that may prompt you to update your estate planning documents:
Estate planning is a crucial but often overlooked aspect of financial and property management. It involves preparing for the transfer of your assets in the event of your death or incapacity. This process ensures that your wishes are honored, and your loved ones are taken care of, minimizing potential disputes and legal complications.Estate planning is not just for the wealthy; it is essential for everyone! Without a plan, your estate will be subject to California law, where the state decides how your assets are [...]
The best way to protect your home from probate is to transfer it into a Living Trust. A Living Trust allows for the easy transfer of your home and saves thousands of dollars after you pass away. But it is not enough to establish your Living Trust – you must also properly transfer your home to your Living Trust.
A living trust is an estate planning document you can create during your lifetime. Assets are transferred to your living trust (such as your real property, bank accounts, and brokerage accounts). While you are alive, your trustee (who is usually you) will have complete control over all trust assets and can move the assets in and out of your living trust as needed.
How often should a living trust be updated? I recommend you review your living trust every three to five years. This gives you the opportunity to look at it with fresh eyes. In my experience, when clients have a living trust prepared, the binder with the trust documents is set on a shelf and rarely looked at again.
Do you worry about what will happen to your pet when you pass away? You can create a “Pet Trust” as part of your estate plan to protect your pet.