Your will and other estate planning documents need to be updated when circumstances in your life change. For instance, when your marital status changes. Here is how a change in your marital status can affect your estate plan: You get married or divorced If you...
Estate Planning
How power of attorney protects your family if incapacity occurs
Estate planning involves making decisions today to ensure your wishes are followed in the future, especially if you become unable to manage your affairs. One of the key documents in this process is a power of attorney (POA). This legal tool allows someone you trust to...
How do inheritance laws work in California for stepchildren?
Inheritance laws in California can be complex, especially when it comes to stepchildren. In general, stepchildren do not have automatic inheritance rights from a stepparent unless explicitly stated in a will or trust. Inheritance rights for stepchildren In California,...
How does the generation-skipping tax impact your estate?
The generation-skipping transfer (GST) tax applies when people give large gifts or inheritances directly to their grandchildren or younger beneficiaries instead of their children. This tax stops wealthy families from avoiding estate taxes by skipping a generation when...
What happens to debts during estate administration?
When someone passes away, their financial obligations remain. Estate administration resolves outstanding debts, ensuring creditors receive payment before the executor distributes assets to heirs. This process follows a structured legal framework to protect both...
How to include digital assets in a California estate plan
Many people today own an abundance of digital assets. Some of these assets can be just as valuable or sentimental as tangible belongings, making it important to include them in an estate plan. In California, failing to account for these assets can create...
Blended families managing estate planning challenges
Blended families often find estate planning challenging. They must balance the needs of spouses and children from previous marriages, so careful planning is crucial. It helps ensure equal distribution and reduces conflicts. How can you balance the needs of your spouse...
How to include pets in a will in California
Many pet owners view their pets as family members, and making sure they receive care after an owner’s passing becomes an important consideration. Planning ahead can ensure a smooth transition for your pets and peace of mind for you. Naming a caretaker The first step...
How can charitable trusts be used to minimize estate taxes?
Charitable trusts offer a valuable tool for estate planning, allowing individuals to support charitable causes while also reducing estate taxes. These trusts can provide significant tax benefits and help ensure a legacy of philanthropy. Understanding how charitable...
Choosing the best guardian for your child while estate planning
Selecting a guardian for your children is one of the most critical decisions you'll make during estate planning. Choosing a guardian is a deeply personal decision that requires careful consideration. By evaluating sensitive factors, you can ensure that your children...