Wills & Trust

Monday, March 30, 2020

Coronavirus Should Have You Considering These Estate Planning Essentials


Why is it so important to have a power of attorney?

The coronavirus pandemic is sweeping the nation and causing a wave of illness and death in its path. The news today is fraught with ever dire reports about the number of people critically ill or dying due to COVID-19, the disease caused by the novel coronavirus. China already lost thousands of lives to the pandemic, and it has now spread to most of the world. In Europe, Italy and Spain are struggling to treat the sick patients arriving daily in hospitals. In the United States, the number of people infected with the virus is said to be doubling every three to five days.
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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.
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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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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.
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Sunday, March 31, 2019

Minimize Potential Family Conflict Surrounding Your Estate Plan

How can I avoid a challenge to my will after my death?

Your estate plan represents your last wishes to your heirs and loved ones.  The decisions you make concerning who will receive what assets will be done with much thought and care.  At times, you may be forced to make the tough decision of leaving out a certain loved one from your estate plan, or providing more to one heir over another.  Family conflict is one of the main concerns of anyone who sets out to make an estate plan.  The good news is by engaging in some advance planning as you create your estate plan, you can reduce family conflict and minimize the chance that your will is subjected to a legal challenge after your death.


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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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Friday, August 25, 2017

Exploring the Differences Between a Will and a Trust in California


Do I need a will or trust?

Wills and trusts are two common estate planning tools.  With both a will and a trust, you can ensure your family will receive your hard earned assets and be protected after your death.  Each of these estate planning tools, however, have benefits and drawbacks.  Our


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Friday, February 10, 2017

Do Heirs Have to Pay Off Their Loved One's Debts?


The recent economic recession, and staggering increases in health care costs have left millions of Americans facing incredible losses and mounting debt in their final years. Are you concerned that, rather than inheriting wealth from your parents, you will instead inherit bills? The good news is, you probably won’t have to pay them.

As you are dealing with the emotional loss, while also wrapping up your loved one’s affairs and closing the estate, the last thing you need to worry about is whether you will be on the hook for the debts your parents leave behind. Generally, heirs are not responsible for their parents’ outstanding bills. Creditors can go after the assets within the estate in an effort to satisfy the debt, but they cannot come after you personally.


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Friday, October 14, 2016

4 Myths of Estate Planning

While most people understand that estate planning involves providing for loved ones upon their passing, many are unclear as to what the estate planning process actually entails.  This unfortunately leads to stubborn myths about estate planning that this article seeks to clarify. 


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Wednesday, July 20, 2016

6 Events Which May Require a Change in Your Estate Plan


6 Events Which May Require a Change in Your Estate Plan

Creating a Will is not a one-time event. You should review your will periodically, to ensure it is up to date, and make necessary changes if your personal situation, or that of your executor or beneficiaries, has changed. There are a number of life-changing events that require your Will to be revised, including:

Change in Marital Status: If you have gotten married or divorced, it is imperative that you review and modify your Will. With a new marriage, you must determine which assets you want to pass to your new spouse or step-children, and how that may relate to the beneficiary interest of your own children. Following a divorce it is a good practice to revise your Will, to formally remove the ex-spouse as a beneficiary.


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Tuesday, May 31, 2016

FAQ Concerning California's New Revocable Transfer on Death Deed


In September of last year, California Governor Jerry Brown signed into law House Bill 139 -- creating a new type of deed designed to help expedite the probate process. Specifically, the “revocable transfer on death deed” was created to simplify the probate process for surviving family members, effectively allowing valuable real estate to pass to heirs outside of the probate court. The following answers some of the most frequently-asked questions about this new estate planning tool.

FAQ #1: What led to the creation of the revocable transfer on death deed?

To understand the the revocable transfer on death deed, it helps to better understand the traditional methods of transferring real estate prior to its introduction. When a person dies owning real estate, there were generally three ways in which the home could transfer to the intended beneficiaries: (i) via joint tenancy with the right of survivorship; (ii) through the directives in a Will or Trust, or (iii) by intestate succession as laid out in the California Probate Code.


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