Are you worried about how your estate’s assets are going to be utilized once you’re gone? Are you concerned that your loved ones will simply rely on their inheritance to get by, thereby diminishing their motivation to live up to their potential? If you answered “yes”...
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What are the different types of powers of attorney?
Good estate planning can have a lot of moving parts and there are some aspects which will have more use to you than others. Your needs will also change throughout your life, as you age and different events require different approaches to your estate plan. Powers of...
Do you know what special needs trust assets can be used for?
A special needs trust can be a great way to provide your loved one with financial resources while protecting his or her ability to obtain government benefits like Medicaid. Yet, there are a lot of misconceptions out there about special needs trusts. For example, many...
Younger people are showing greater interest in estate planning
For many Californians, estate planning is something they put off. While this is understandable given the subject matter and that it is essentially acknowledging one’s own mortality – something that people are often reluctant to do – it is frequently a mistake. Younger...
How can I avoid outliving my retirement assets?
Life expectancy in the U.S. is on the rise. This raises the troubling question many retirees are facing: what happens if I outlive my assets? The following are some tips on how to avoid this scenario from occurring. The “4%” rule Traditionally it was recommended that...
What does a conservator do?
A California resident who a court deems unable to care for themselves or handle their basic needs may be appointed a conservator. Most California residents are probably familiar with guardianships, which involve an adult who is given legal responsibility over a minor...
Understanding conservatorships in California
If an adult cannot care for him or herself or his or her finances, it may be necessary to pursue a conservatorship. A judge can appoint a responsible adult to act as a conservator. The conservator may be a friend or family member. The person subject to the...
Why should a younger person consider estate planning?
Although Californians can take legal estate planning steps as soon as they reach adulthood, many young people put off even writing a will. There may be many reason for the delay. Young people are typically in good health, and they may think that an estate plan would...
Here’s what you can do to protect your grandchildren’s’ finances
As we age, we tend to worry about our loved ones’ financial stability when we’re no longer around. This is what drives many people to engage in estate planning. But if you’re worried about your grandchildren’s financial wellbeing, then there may be steps that you can...
What to consider when setting up a guardianship?
As part of an estate plan, it is important for parents to carefully select a guardian for their minor child to include in their estate plan. To make a selection that will provide the estate planner with invaluable peace of mind, it is also important for the estate...