Tax deferred growth is a beautiful thing. The IRA (or Roth IRA) stretch out is nothing short of miraculous! Often children or grandchildren are named as beneficiaries so that they can take advantage of life-long (required minimum distribution) payments with the assets continuing to grow until the beneficiary is in his mid-80s. As part of […]
Estate Planning
5 Powers of Your Health Care Power of Attorney
Your health care power of attorney is an essential part of your estate plan. Every person, age 18 or older, needs his or her own health care power of attorney. The purpose is to authorize a trusted family member or friend to make health care decisions on your behalf if you are not able to […]
Medical Power of Attorney FAQ
With a medical power of attorney, you can plan for the unexpected ahead of time and still be safe and cared for, even if you become disabled and are unable to make important decisions. What is a medical power of attorney? A medical power of attorney is a legal document that names an agent who […]
Wrap Your Children’s Inheritance in Trusts
Trusts are often part of everyday estate planning because of their many benefits. By wrapping your children’s inheritance in trusts, you can prevent your hard earned money from being taken by your children’s creditors. Your children’s creditors – examples Your children’s creditors would be people who sue them such as in divorce, bankruptcy, medical malpractice, […]
What Does My Trust Say? (Part 2)
NOTE: This is part 2 of a two-part article on trusts. Read part 1. “What does my trust say?” If you’re like most people, you were surprised by the stack of documents at your estate planning signing meeting. The estate planning process, including the revocable living trust, has a lot of information to take in […]
What Does My Trust Say?
NOTE: This is part 1 of a two-part post on trusts. “What does my trust say?” If you’re like most people, you were surprised by the stack of documents at your estate planning signing meeting. The estate planning process has a lot of information to take in during a few meetings. You will gradually become […]
Why You Need Estate Planning While You’re Alive
If you’re like most people, you will have medical issues sometime during your lifetime. It is imperative that you have up to date estate planning documents to address these medical issues. What estate planning documents address medical issues? The revocable living trust, financial power of attorney, power of attorney for healthcare, all address lifetime medical […]
You Don’t have to Disinherit Your Beneficiary Who is in a Nursing Home
If you’re like most people who have a loved one in a nursing home, you think that you have to disinherit your loved one for fear of disqualifying her from having her nursing home care paid for by MediCal. Great news! You don’t have to disinherit your beneficiary. Asset protection planning can avoid disqualification. Where […]
Your Legal Documents and Important Information: What to Organize
Along with your estate planning documents, it is important to leave a folder or binder with other important information. This will make taking care of you and your assets much easier if you become incapacitated or die. It would greatly help your Agent (under a Power of Attorney), Trustee (under a Trust), or Executor (under […]
What is Estate Planning?
No, it’s not a stupid question. We hear that question all the time: So, what exactly is estate planning anyway? If you’re like most people you have a general idea of what it means, but details would be helpful. Estate planning is a process that helps you to set goals, leave a legacy, and stay […]