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The person who carries out the last wishes named in a California will or estate plan is an executor. It’s common for adult children to serve as the executor of their parents’ estate plan. This doesn’t mean the task is any less daunting though. There are a lot of legal...
A qualified terminable interest property trust, more commonly called a QTIP trust, gives one the ability to decide how their assets will be distributed in the event that their significant other lives longer. This might be something to consider adding to your estate...
Mediation is a popular method for solving estate planning disputes that has gained traction in recent years. However, like any other conflict resolution method, mediation has pros and cons. Advantages Mediation has many advantages. It is a highly effective way for...
When developing an estate plan in the state of Texas, you may have many different beneficiaries you are considering leaving assets for in your will. However, you may also be curious about giving part of your estate to a charity you care about. This is a noble thing to...
Being named the executor of a person’s estate in California is a difficult job. However, knowing your responsibilities can help you better understand what’s expected of the role. These are some common mistakes executors make and how to avoid them. Not understanding...
For the most part, children within a family in California follow a fairly tight age spread, no more than 48 months separating each child. However, sometimes an unexpected child can enter the picture, often much younger than their siblings and while you as parents are...
Developing an estate plan in California becomes more complicated as you accumulate assets. Living trusts are frequently an essential part of an estate, yet selecting a trustee for your plans can get overlooked. Before you name someone, consider the following important...
Being an executor in California is a noble responsibility. The estate owner entrusts them with the task of ensuring that they help fulfill their last dying wishes. And most of them do just that. However, there are some circumstances where the executor might be...
To account for unforeseen circumstances, California residents should consider preparing a durable power of attorney (POA). A durable POA is a legal document that grants an individual, known as the "principal," the authority to appoint someone else, the "agent" or...
If you are approaching retirement in California, you may want to find ways to draw a steady income after you stop working. Having sufficient money to live on is especially important if you plan on delaying Social Security payments. Establishing an income trust can...