CA Estate Planning Blog

Friday, December 21, 2018

Naming More Than One Executor

What are the potential drawbacks of naming co-executors?

The role of executor is an important one.  Your named executor will be tasked with managing and protecting your assets, settling all debts, and ultimately distributing the assets in your estate.  Within your will or trust, you can name an individual to serve as the executor, or in the similar role of trustee. At times, people will struggle to name an executor and may consider the option of selecting more than one executor.  Naming co-executors can at times serve a purpose, but there are some potential drawbacks to choosing two or more executors.
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Thursday, December 20, 2018

Make Estate Planning a Part of Your New Year

What will happen if I die without an estate plan in California?


The New Year is a time of reflection and planning for many of us.  Making a few resolutions for the New Year is common practice for many.  While creating an estate plan may not be one of the first goals you think of for the coming year, making an estate plan could ultimately save your family from much heartache.  Consider taking the time this coming 2019 to sit down with an Read more . . .

Thursday, November 22, 2018

Estate Planning for Grandparents Raising Grandchildren

Can I skip a generation in my estate plan?

At times, circumstances arise requiring a grandparent step in to raise their grandchild.  The U.S. Census Bureau estimates that over 2.4 million grandparents have custody over their grandchildren in the country today.
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Monday, November 12, 2018

Estate Planning for Childless Couples

Who will receive my assets if I die without an estate plan and I do not have children?

Today, many couples have elected not to have children or to wait for some time before embarking on the journey of parenthood.  Whether you are childless by choice, circumstances, or just putting off children, it is of critical importance that you create an estate plan.  Childless couples will at times face some difficult questions when it comes to who will receive their assets after their death. Failure to make an estate plan could potentially result in one’s assets going to a distant relative or even the state.  Act now by creating an estate plan to ensure your hard-earned assets go to the person or charity you desire.
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Monday, October 22, 2018

Don’t Forget Your Intellectual Property Rights in Your Estate Plan

How do I pass down my royalties to my heirs?

For many business owners, artists, and others, intellectual property rights comprise a valuable and significant part of your estate.  Intellectual property rights may include copyrights, patents, and trademarks.  In addition to ownership of intellectual property rights, royalties stemming from the use of your intellectual property rights by another can produce ongoing income.  Intellectual property rights are an often overlooked category of assets that must be carefully included within your California estate plan.

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Monday, October 15, 2018

Selecting an Executor for Your Estate

What are the traits of a good executor?

The role of executor is an important one.  The individual you name as executor to your estate will essentially be tasked with stepping into your shoes and fulfilling all legal tasks that you would have completed during your lifetime.  Additionally, your executor will face the difficult job of ultimately distributing the assets held within your estate to your named heirs. Our Orange County estate planning attorneys explain what factors you should consider when naming your estate executor below.

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Thursday, September 20, 2018

Incorporating IRAs in Your Elder Law Planning

Can I qualify for Medi-Cal if I have significant assets in my IRA?

Individual Retirement Accounts (IRAs) and other retirement plans like 401(k)s should form an integral part of planning for your financial future. Qualified plans, which include all plans found within Section 401(a) of the Tax Code, are eligible to receive tax benefits. Qualified plans are favored by employers because employers can deduct contributions made to employees. IRAs further provide great benefit to employees, allowing you to set aside funds for when you retire which may not impact your eligibility for state and federal benefits. Our Read more . . .

Monday, September 10, 2018

Estate Planning for the Business Owner

How can I ensure my business continues on with the next generation?

Running a business can be all consuming. Small business owners often find themselves fulfilling a wide range of roles, ranging from that of the general manager, accountant, marketing manager, human resources department, therapist, handyman, and much more. With so many jobs to fulfill, it can be easy for a small business owner to put estate planning on the back burner. Without an estate plan in place, however, your death could mean the end of your business as well as financial loss for your family.

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Wednesday, August 15, 2018

Excluding a Loved One from Your Estate Plan

Can I legally exclude a child from my will?

When drafting an estate plan, most people will elect to leave their hard earned assets to their spouse and children. At times, however, a person may choose to leave a certain family member out of their estate plan. A parent may make the hard decision to exclude a child or a married partner may desire to leave their spouse out of their will for personal or economic reasons. While generally it is solely at your discretion to leave

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Friday, August 3, 2018

Exploring Crypto Trusts

What are the benefits of placing my cryptocurrencies in a trust?

Cryptocurrency has risen to extreme popularity in recent years, with one Bitcoin currently worth over 7,400 dollars. As cryptocurrencies continue to become a part of investor portfolios worldwide, the importance of incorporating digital assets in estate planning takes on more significance. The IRS treats cryptocurrencies as any other piece of property. Accordingly, the transfer of a Bitcoin or another cryptocurrency will trigger tax penalties. In an effort to minimize taxation and ease the transfer of cryptocurrencies to the next generation, some

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Tuesday, July 17, 2018

When Should I Start My Estate Plan?

Most of us likely think of age as the deciding factor for when we should start an estate plan. While age is certainly an important factor in the timing of estate planning, it is just one factor of many. Also of relevance is your overall health, family relationships, financial situation, and beneficiary status. Accordingly, you will not find a set age or time period in a book or online as to when you should start estate planning, but will be wise to think about the process early on and seek the assistance of an...

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