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An estate plan is just that: a plan that you create that accounts for death and in some cases, even disability. An estate plan may be as simple as thinking about what you would like to happen when you pass away, then taking steps to plan for that on your own. However, a more formal estate plan involves more than…
To answer the question – a trust is a fiduciary relationship that allows another person (the Trustee) to hold assets on behalf of a person or people (the Beneficiaries). But what are all these words? Well, let me give you an elaborate analogy. A trust is a vehicle that helps you reach a certain destination. The destinations that you may…
The answer is it depends (as you go through the answers, you will find that the answer is often it depends because there are many variables that can affect the answer). But, the government taking your most priced possessions is very unlikely- I will tell you why. Generally in California, there are default rules about what happens to your possessions…
Put simply, probate is the formal court process of collecting a person’s belongings, paying their outstanding debts, and distributing the assets that are left over to their heirs. When someone dies all of their assets need to be collected and distributed to the people that will inherit them. Certain assets, such as real estate and bank accounts with a certain…
Soy abogada, y como abogada, tengo el deber ético de informarle esta información. A pesar de que es mi deber, también creo que es importante ser muy clara y transparente con la información proporcionada y los objetivos del blog. Por último, quiero transmitir que es muy importante que busque información que se adapte a sus necesidades específicas, y la única…
This question can also be restated as- how old do I have to be to think about an estate plan? When should I start thinking about an estate plan? Theoretically, everybody needs an estate plan – that is everybody should think about their death and think about matters that are important to them and come up with a plan for…
NO! Through looking at various estate plans and documents, I have come to the realization that it is never a good idea to do your own estate plan (unless you have had extensive experience in estate planning and even then it is a good idea to consult with other professionals regarding this area). The reason is that estate planning is…
I am an attorney. As an attorney, I have an ethical duty to tell you this information. Even though it is my duty, I also feel it is important to be very clear and transparent with the information provided and the goals of the blog. Lastly, I want to convey that it is very important for you to seek information…
