When you start the process of estate planning, your main goals may include avoiding probate, protecting generational wealth, and ensuring that your spouse, children, or other family members are cared for in your absence. You might also consider legal options like wills and trusts, along with directives for healthcare, guardianship,...
Category: Estate Planning
3 Safe Ways to Store Your Estate Planning Documents
Estate planning is an essential part of preparing for the future. No one truly knows how much time they have, but everyone wants to ease the suffering of their loved ones when they’re gone.
The last thing you want is for a spouse, parents, or children to...
4 Key Estate Planning Documents for Young Adults
As a legal adult aged 18 or over, you are responsible for managing your assets and debts, which constitute your estate. Although most young adults have a long life ahead of them, unexpected events can occur, leaving you incapacitated or even resulting in loss of life.
Accidents and illnesses...
Ask an Attorney: How Can I Protect My Home From Medicaid?
Over 72 million Americans currently participate in Medicaid, a federal program designed to provide medical coverage for qualifying seniors, children, pregnant women, low-income individuals, SSI recipients, and patients with disabilities. Some states also fund expanded Medicaid programs for residents.
Many patients need the long-term coverage...
Revocable Living Trust vs. Will: Key Differences
As you begin to explore estate planning, it’s likely you’ll come across options like revocable living trusts and wills. At first glance, they can appear similar, but there are key differences that can have a significant impact on whether one is a better choice for your needs than the other.
Common Mistakes Made on Life Insurance Beneficiary Designations
Over half of Americans have a life insurance policy, either as an individual or through their workplace. Investing in life insurance can give you peace of mind and a sense of security, but it’s important to pay close attention to details when designating beneficiaries.
Your...
Estate Planning Considerations for Tax Season
Tax season can be stressful, particularly if you have a complex financial situation. And when you’re going through the monotony of filing taxes, the last thing you want is to complicate things by diving into estate planning, too.
However, as many attorneys and financial experts will tell you,...
Spring Cleaning Your Finances: A Fresh Look at Your Estate Plan
Spring is a time of renewal, energy, and optimism. It’s also tax season. When you take those facts together, it’s obvious why spring is the perfect time to clean up your financial situation. That includes closely examining your estate plan and updating it as needed.
If you dread the...
How Is a Durable Power of Attorney Different From Other Powers of Attorney?
If you are at all familiar with estate planning, you’ve heard the term “power of attorney.” You may also have heard some of the variations of that term, such as medical power of attorney or durable power of attorney. Each type of power of attorney has its own rules and limitations. Choosing...
Estate Tax Laws in CA — See How They Affect You
Considering the potential impact of taxes on your beneficiaries is essential in the estate planning process, but California residents, in particular, may be confused about how estate tax laws will impact the inheritance they wish to pass on.
Consultation with an attorney who specializes in estate planning will clarify...