CA Estate Planning Blog

Friday, January 17, 2020

Focusing on Your Estate Plan in 2020

Why should making an estate plan be a part of your New Year’s resolution?

As you kick off the New Year and step into a whole new decade, now is an ideal time to address the issue of estate planning. Creating an estate plan is critical to the protection of your hard-earned assets, your health, and your loved ones. With an estate plan, you can designate who will receive which assets, while further naming a guardian for your minor children and potentially reducing the tax implications to your estate after your death. You can also designate an individual to make critical health and financial decisions if you become unable. Anyone who does not yet have an estate plan should add this goal to their New Year’s resolutions.
Read more . . .

Monday, December 23, 2019

Avoid These California Estate Planning Mistakes

Regardless of your income or net worth, one thing's for certain: you need an estate plan. Even if you aren't wealthy, chances are you have at least one thing of value that you'd like to pass along to a loved one. Not only can an estate plan help maximize the value of the estate you'll pass along to your beneficiaries, but it will give you an opportunity to make informed decisions about how your assets are handled during your lifetime.

Despite its importance, however, an estate plan that is drafted hastily and without the assistance of Read more . . .

Thursday, December 19, 2019

Here's Why You Need an Estate Plan

There is a common misconception out there that only wealthy people need an estate plan. This couldn't be further from the truth. Whether you make $10,000 a year or $1,000,000 a year, you absolutely must have an estate plan. In fact, if you have any assets at all, you need an estate plan to ensure that they end up in the correct hands after your passing. In other words, estate planning is for everyone.
Read more . . .

Wednesday, November 27, 2019

Improve Your Estate Plan Today

How often should I update my estate plan?

Less than half of all Americans today have an estate plan, according to the most recent Gallup poll data.  If you already have an estate plan, congratulations! You have taken an important step towards protecting your family and your future. You are ahead of the curve.  However, your estate planning cannot end there. You should Read more . . .

Friday, November 22, 2019

Updating Your Estate Plan Post-Divorce

Will divorce negate my will?

Every year, over 750,000 people will file for divorce, according to the National Center for Health Statistics. If you are one of the hundreds of thousands of Americans who have divorced or will divorce this year, you will need to make updates to your estate plan. Chances are your estate plan lists your spouse as the recipient of your assets, as well as your power of attorney in the event of your incapacity.Read more . . .

Monday, October 28, 2019

Estate Planning for Singles

What are the unique needs of single people when it comes to estate planning?

There are currently more single Americans than ever before. United States census data reveals that over 110 million Americans who are over the age of 18 are unmarried. This represents nearly half of our country’s population, up significantly from decades ago. In fact, in 1960, 72 percent of the country reported being married in census polls. America’s growing single population may be tempted to put off estate planning, but doing so could have serious consequences.
Read more . . .

Thursday, October 24, 2019

Be Sure Your Beneficiary Designations Do Not Create Conflict

How might naming a beneficiary impact my estate plan?

Beneficiary designations are an important part of any estate plan, but if handled incorrectly your beneficiary designation could create conflict with the rest of your estate plan. Traditionally, beneficiary designations are used for life insurance policies and retirement accounts. More recently, beneficiary designations have become popular for use with bank and brokerage accounts. Issues may arise, however, when a beneficiary designation creates conflict with your will or trust. Our Read more . . .

Wednesday, September 18, 2019

Is Your Estate Plan Disaster-Proof?

After the Walker Fire grew to be the largest wildfire of 2019 and Hurricane Dorian inflicted catastrophic damage in the Bahamas, natural disasters have surfaced to the forefront of the minds of people across the country. A natural disaster can result in considerable damage to your home and possessions. Often overlooked is the potential for a natural disaster to destroy your critically important documents, which may include your estate plan. Our Read more . . .

Friday, September 6, 2019

Estate Planning Essentials for New Parents

What estate planning documents do new parents need to create?

New parents have much on their minds.  Approaching the birth of your first child, your days may be full of researching and purchasing baby gear, setting up the nursery, and enjoying the last of your sleep-filled nights. Naturally, not all soon to be new parents will turn their thoughts to the important but often overlooked task of creating an estate plan. As a new parent, however, you will want to do everything in your power to Read more . . .

Friday, August 16, 2019

Estate Planning for Newly Blended Families

What unique estate planning considerations exist for remarried couples?

Roughly a quarter of all marriages in the U.S. today are remarriages, according to the Pew Research Center.  With divorce rates remaining high on a national level, it makes sense that more people will give love and marriage another chance at some point in their lives.  Second marriages can present a wonderful opportunity to enter into a new and loving union, but they may also come with some complications.
Read more . . .

Friday, August 9, 2019

Disinheriting a Loved One in California

Is It Possible to Leave a Child Out of My Estate Plan?

California law presumes that you will want to include your children and spouse in your estate plan.  While for most families this will be the case, there are times when an individual may elect to leave certain family members out of their estate plan for personal reasons.  Perhaps you plan to soon separate or divorce from your spouse or maybe your child has a drug or gambling problem that makes you fear giving him or her funds. Whatever your reason, you should know that you will need to take steps to legally disinherit your loved one so that Read more . . .

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