If you’re like most people, you’re not rich and you don’t have an estate plan. If you don’t have a fat portfolio of assets to leave to your loved ones, why would you need one? Maybe because an estate plan can do far more than transfer assets. It’s true that most...
Estate Planning
Passing Inheritance Now Rather Than Later
Thinking of someone leaving an inheritance might invoke dramatic images of eager family members gathered around a lawyer's desk, listening intently as bequests are slowly read aloud from a long document. While that may be how the process is portrayed in the movies,...
What are some of the best practices for estate planning?
A successful estate planning strategy hinges on a variety of factors. Each person's or family's situation is different. Still, a number of the steps are similar and require knowledge and action in common and specific areas. This article focuses on two important areas...
3 tips for talking to an aging parent about estate planning
If your elderly parent does not have a comprehensive estate plan in place, you likely want to encourage him or her to begin the planning process. Alternatively, if your aging loved one has not reviewed an existing plan in some time, it may no longer reflect his or her...
Estate Planning and Transmutation of Marital Property
When a married couple is planning for their estate, matters can become surprisingly complicated. This is especially true when the two had assets coming into the marriage, or separate property. Often, spouses mistakenly designate assets in their estate plans without...
How do you include your social media accounts in your estate plan?
For many people, social media is a part of daily life. If you utilize social media a lot, your family may wish to preserve your accounts after your death. Having these accounts allows them to revisit posts you made or pictures you posted. It can help them stay...
Talking to Your Parents About the Status of Their Estate Plan
As children, it’s natural to depend on our parents to manage the household finances and plan for the future without considering everything involved. For many of us, it’s only when we grow up and take on adult responsibilities that we think about the importance of...
The Importance of Communication When Estate Planning Without Children
For someone who is child-free, estate planning may not feel like a priority. This can be particularly true for people who believe that things like wills and trust are only meant for wealthy families who need to protect assets. In truth, it's vital that everyone take...
Does my estate inherit my credit card debts?
In United Kingdom and without proper estate planning, your credit card debts, mortgages and other obligations may pass on to either your spouse or to your heirs. Because spouses own property and assets equally under the Golden State's community property laws, jointly held...
Why Waiting to Plan for Your Estate is a Mistake
If you been procrastinating when it comes to putting your estate plan together, you are not alone. According to a 2019 Survey, more than half of all Americans don't have a will, and that although 50% of Americans have talked about estate planning, less than half have...