If you have worked hard your entire life, it’s only sensible that you make clear what you want to happen to your estate when you die. This is where will creation comes in. Without a will, California intestacy laws would kick in and determine who gets to inherit your...
Year: 2023
Who is an eligible designated beneficiary?
An eligible designated beneficiary refers to an individual designated as a retirement account beneficiary. The designation is crucial as it provides certain tax advantages and influences the distribution of the account after the original account holder's demise....
What is a probate advance, and do you need one?
Probate advances, often known as inheritance or probate loans, are financial tools that allow heirs to access their inheritance before the probate process concludes. This financial option can be a lifeline for individuals facing financial challenges or urgent needs,...
Addressing sibling rivalries during estate planning
Estate planning is a nuanced process, and it largely centers around ensuring that your assets go where you want them to upon your death. You can also use estate planning tools to designate suitable individuals to take care of your financial interests and health...
How to talk to your loved ones about your estate plan
You're already ahead of many people if you've decided to create an estate plan. But the process doesn't end there. Talking openly with your family and loved ones about your plan is a crucial next step. Having this conversation can be tricky, but it's essential for...
How are trusts funded?
People putting together estate plans may decide to include a trust among their resources for a variety of reasons. Some people want to leave money for a charitable cause instead of just for family members. Others may worry about a family member's divorce or mental...
How can I ensure my parents’s estate plans are up to date?
As your loved ones grow older, ensuring their affairs are in order becomes increasingly important. One critical aspect of this is confirming that their estate plans are current. Estate planning is a process that involves making arrangements for the distribution of...
How military survivor benefits fit into your estate planning
If you’re a current or retired member of the military, your estate plan likely won’t look much different than the typical civilian’s. Of course, every person’s estate plan is unique, depending on their marital status, whether or not they have children, what kind of...
How can you update your will?
You should update your will when circumstances change. These include marriage, divorce, the birth/adoption of a child/grandchild, new stepchildren and the purchase/sale of an asset. You can also update your will when you want to remove a beneficiary or change the...
How a trust can help you avoid the probate process
Probate is a court process that occurs after a person's death to validate their will, settle their debts and distribute their assets to the rightful beneficiaries or heirs. While a will sounds like an ideal way to pass your estate to loved ones, the probate process is...