CA Estate Planning Blog

Monday, May 14, 2018

Creating a Spendthrift Trust

How can a spendthrift trust protect my heirs from creditors?

With a spendthrift trust, you can pass down assets to your heirs without concern that your assets may be rapidly spent by heirs or seized to satisfy creditors. A spendthrift trust comes with all of the benefits of a regular trust, but allows for additional protections. This type of trust is particularly useful for parents or grandparents who want to leave assets to their children or grandchildren, but they have concerns about the spending habits of these heirs. Our


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Thursday, May 10, 2018

The Most Common Estate Planning Mistakes


How can I avoid making an estate planning mistake?

Your estate plan will form a vital part of your legacy. With your estate plan, you will pass down your hard earned assets to the next generation, while protecting yourself in the event of your incapacity. Mistakes made in the creation of your estate plan could cost your heirs significantly and undermine your attempts to care for your loved ones after your death.
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Wednesday, April 18, 2018

Setting Up a Trust for Minors

What are the advantages of placing assets in a trust for my minor child?

Many younger parents put off estate planning, believing they have plenty of time to set aside assets for their children before their death. However, failing to create an estate plan that benefits your children now could leave your child without a named guardian and no control over how the child’s assets will be managed in the event of your untimely death. With a trust for minors, you can designate that certain funds be provided to your child to cover costs of support and education. The trust will further protect assets from creditors.


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Friday, April 13, 2018

Estate Planning is Not Just For the Wealthy

Why is it important for everyone to have a will?

Estate planning is critically important for those in all financial situations. Estate plans range in complexity from simple wills to complex multi-generational trusts. Your estate plan accomplishes far more than just transferring your assets upon your death. With your estate plan, you will protect yourself, your family, and future generations.


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Wednesday, March 21, 2018

Charitable Giving Through Your Estate Plan

What is a charitable remainder trust?

Giving to charity is a wonderful legacy to leave behind.  With your charitable donations, you can truly make a difference to a cause that you hold near and dear.  There are many ways both during your lifetime and after your death that you can give to charity.  Charitable giving often additionally have the advantage of minimizing your taxes.  Our
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Wednesday, March 14, 2018

Qualified Personal Residence Trusts Explored


Is a Qualified Personal Residence Trust (QPRT) an irrevocable trust?

A Qualified Personal Residence Trust (QPRT) is a type of irrevocable trust that allows you to place your home or a secondary residence into the trust for tax benefits.  QPRTs are a popular estate planning tool that can help you to reduce the size of your taxable estate.  As an irrevocable trust, a QPRT cannot easily be altered, making it important that you consult with a trusts and estate planning lawyer to ensure this estate planning vehicle is right for you.
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Monday, February 19, 2018

Protecting Your Assets With a Trust


What is an irrevocable trust?

You’ve worked hard your entire life to provide for yourself and your family.  Now, you want to protect your assets in the face of an uncertain future.  Trusts can offer a way to protect your assets from creditors during your lifetime and after your death.  There are


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Monday, February 12, 2018

The Costs of an Estate Plan


How much does an estate plan cost?

One of the primary reasons people put off estate planning is concern over the cost.  Creating a will, trust, and other estate planning documents will cost you some money up front.  The exact cost of your estate plan will depend on the complexity of your needs, your geographic location, and your attorney’s level of experience. There are ways in which you can reduce the expense of your estate plan.  Our


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Thursday, December 21, 2017

Your Role as a Health Care Agent


How can I make the best medical decisions possible for someone else?

Health care agents or surrogates hold a critically important role.  A health care agent is someone vested with the power to make medical decisions either through a power of attorney or state law.  If you have been designated as a loved one’s health care agent, it will be important for you to research the role so that you are prepared if and when your loved one becomes incapacitated.  Our Orange County
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Tuesday, December 19, 2017

Don’t Forget About You in Your Estate Plan


How can my estate plan help to take care of me during my life?

Most of us think of estate planning as a necessary step to protect our loved ones after death.  Through the use of wills and trusts, we can ensure our spouses, children, and other loved ones are provided for in the event of our death.  While estate planning may seem to be all about others, you are in fact the most important person in your estate plan.  Your estate plan will provide critical protection for you during your lifetime.  Take a look at some vital documents that should form
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Wednesday, November 22, 2017

When It Comes to Estate Planning, Do Not Procrastinate


Why is it important for me to start creating an estate plan well before retirement?

There are numerous reasons why people put off estate planning.  Many of us simply do not want to deal with our own mortality, so we keep delaying a discussion of the topic.  Others do not want to incur the cost of attorney’s fees for drafting an estate plan, even though avoiding this immediate cost will cost them far more in the long run.  Despite these understandable, if misplaced, reasons for procrastination, the fact is that when it comes to


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