When planning how your estate will be distributed after your passing, it's essential to consider the crucial role of wills. Wills serve as legal documents outlining your wishes regarding the distribution of your assets and the care of any dependents after your death....
gturnercontentcustoms
Develop a healthcare plan in case you’re incapacitated
Preparing for potential incapacitation is a crucial estate planning step that you shouldn’t overlook. It involves making decisions now about the medical care you wish to receive if you become unable to communicate your preferences in the future due to illness, injury...
Annual and lifetime gifting limits for estate planning
In the United States, the Internal Revenue Service (IRS) sets annual gifting limits, which dictate the amount of money or value of gifts one can give another person within a year without needing to file a gift tax return. As financial laws and thresholds are subject...
The main mistake people make when disinheriting a family member
Some people may have a sense of entitlement regarding their theoretical rights to an inheritance. They believe that due to the nature of their relationship with someone they deserve a significant portion of their estate. However, a testator planning their estate may...
Why should you establish an irrevocable trust?
Estate planning often involves various instruments to manage and protect assets, including irrevocable trusts. Unlike its more flexible counterpart, the revocable trust, an irrevocable trust has terms that can't easily be changed once established. Irrevocable trusts...
Should you include a no-contest clause in your will?
When you execute a will, you do so with the hope that this effort will eliminate potential confusions and conflicts that may arise regarding who will inherit your estate when you die. Without a will, California intestate laws will kick in and determine who can inherit...
When can your testamentary capacity be disputed?
When you create a will, you do so with the hope that your wishes will be honored and that your hard-earned assets will pass down to the people and causes you care about. Without a valid will in place, California’s intestacy laws will kick in and determine what happens...
5 questions to ask during estate planning
Estate planning is the legal process in which your assets are arranged for distribution in anticipation of your passing. This ensures your last wishes are met and your family and loved ones don’t fight over your estate. When making an estate plan, you’ll likely have a...
How to Lower Probate Costs in California
We all want to leave some inheritance to the people we care about when we die. This, in part, explains why you work hard after all. And as you create your wealth, one of the most important decisions you need to make is creating an estate plan. Probate is the legal...
3 tips to avoid an estate plan dispute
Maybe you believe in some kind of afterlife. How would you feel if you were to look down after you die and see your family arguing over what they believe were your final wishes and the things you left behind? You’d likely feel upset and annoyed. Even more so if you...
