It's possible to revise your estate plan in California as circumstances change. The addition of new family members like grandchildren is a reason to revisit your estate plan. You should regularly check your will every year or few years to make sure you still agree...
Estate Planning
Will an estate plan protect my business?
Having an estate plan in place in the event of an untimely death can be an excellent method of protecting a personal business. You don't want to have worked for a lifetime only to lose a personal business that could be a family legacy and livelihood for generations to...
When a will is not the best choice
Some Californians think that a last will and testament will cover everything when the time comes to leave accumulated wealth to heirs. While a will is an integral part of estate planning, this document doesn't work well in some situations. Limitations of a will...
Advantages and disadvantages of revocable and irrevocable trusts
If you are creating an estate plan in California, you may wonder whether a trust would be a useful tool for you. One of the first things you will need to decide is whether you need a revocable or irrevocable trust. Changing a trust One of the major differences in the...
3 basic things you can do with your estate plan
Many California residents haven’t even completed a basic will, let alone set up other estate planning documents like powers of attorney or trusts. If you have some assets and a family, you may want to start thinking about your estate plan. Here are a few of the basic...
Where new parents create their estate plans
Estate planning for new parents in California isn’t complicated. Some parents see the adjustment of their estate plans as necessary for their newborns. Children are certainly a reason to update your financial portfolio. Your children might even lose you prematurely,...
Estate planning and pets
Pet owners in California know that their animals have unique personalities and needs. It’s not uncommon to recognize a pet in estate planning documents. After all, you want to make sure that your beloved dog or cat ends up being cared for by the right person if...
What grandparents need to consider during estate planning
As a grandparent living in California, estate planning is important to you. You want to be sure that your grandchildren receive proper care in the event of your death or incapacity. However, there are many different estate planning strategies that you should consider...
Updating your estate plan when going through a divorce
When California residents get divorced, one thing they should not overlook is their estate plans. Estate plans should be reviewed whenever people undergo major changes in their lives, including ending their marriages. If people fail to review and update their estate...
Plan for incapacity when you make your estate plan
You may or may not experience a time of incapacity in your life, but it is good to make plans as if you will. If you are in a car accident or become very ill in California, you may be unable to make decisions about your health care and finances. To make certain that...