Estate Planning

Thursday, February 13, 2020

Avoid These 3 Basic Estate Planning Mistakes to Protect Your Loved Ones

What will happen if I die without a will in place?

The death of a loved one will cause tremendous sadness and emotional upheaval. The last thing any of us want is for our family to incur additional hardships after our death due to a lack of effective estate planning. After you die, your assets will be divided between your heirs in accordance with the terms or your will or as dictated by state law. The process of transferring your assets and completing your affairs is known as probate, and it can be both time consuming and expensive. Certain factors can add to the cost and time of probate.
Read more . . .

Monday, February 10, 2020

Review Your Trust Today with the SECURE Act

How might the SECURE Act alter the setup of my trust?

President Trump recently signed the Setting Every Community Up For Retirement Enhancement (SECURE) Act. This sweeping piece of legislation will bring about the most significant changes that the field of retirement law has seen in the past 13 years. One critical portion of the Act could have significant import on your trust. Anyone with an IRA or another employer-sponsored retirement plan who has a trust as the beneficiary will want to closely review the language of their trust to determine whether the trust under the SECURE Act still meets your goals. Our Read more . . .

Tuesday, January 28, 2020

Knowing the Essentials of Estate Planning in Orange County

The Basics of Estate Planning with OC Wills & Trust Attorneys

We know that nobody likes to dwell on all of the details that come with end-of-life planning. Because of this, we’ve made it our mission to serve the people of Orange County with professional, friendly, and compassionate legal services to make these crucial preparations easier to deal with. The last thing you want is for you or one of your loved ones to be in a situation where a proper estate plan was not in place, and then have to deal with the mess of sorting out assets and such. Some of our very own counsel members had been in that exact situation before working with us, so they are intimately familiar with that frustration! 

To help you get an idea of what our

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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 . . .

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 . . .

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