Hmmmm. What happens when that formerly sweet In-Law hits the road and takes everything that you worked so hard for and gave to your sweet child? An Outlaw is created! It could happen and does happen every day. Put on your white hat and give your gift not to your child, but to a trust […]
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What Can a Trust Do For You?
A trust is a legal relationship which is normally created in your lifetime and involves you, the grantor, the trustee and the beneficiary. You don’t need to be either wealthy or elderly to do estate planning in the form of a trust. An estate can consist simply of a home, a car and a checking […]
Making a List, Checking it Twice: Schedule Advisor Meetings for 2011 Now
Santa Claus is not the only one making a list and checking it twice. Take 5 minutes now and call your estate planning attorney, CPA, financial advisor, and insurance professional for a sit down meeting in January, February, or March of 2011. Then, go eat cookies! Just a quick reminder because I know that you […]
Gifting During the Holidays
Ahh, it is that time of year. A time for memory making with loved ones, cookies, and holiday gifts. A true gift is given with an open mind and giving heart. No matter the size of the gift, it is only a true gift, in the spirit of the season, if it is given with […]
Holiday Fireside Chat: It is time to Chat with your Loved Ones about your Estate Planning
Extended families gather at this time of year. So, it is an excellent time to chat with your loved ones, typically your children, about your personal estate planning. Let them know that you have “taken care business.” Peace of mind is a precious gift any time of year. For young children, those under eighteen years […]
What If You Become Sick and Don’t Have a Power of Attorney for Healthcare?
A power of attorney for healthcare allows you to appoint someone you trust (your agent), to make important health care decisions for you if you can’t make them yourself. The power of attorney for healthcare has no effect as long as you can make your own wishes known. A power of attorney for healthcare may […]
Why a Will Alone Can’t Eliminate Probate
Though leaving a will can mean fewer complications for your loved ones, it can’t eliminate probate. Even with a will, the California probate court will have to approve your selection of executor. The court can also require the named person to post a bond in order to serve. This bond could be a nominal amount […]
What is the Difference in Joint Tenancy and Tenants in Common?
The designation of joint tenancy or tenants in common is generally related to real estate matters. This designation deals with how the real property is titled. Joint tenancy gives the right of survivorship. This means that if one party dies, the property or bank account is automatically considered to belong to the surviving partner. Joint […]
What Is Community Property With Rights of Survivorship?
When married people hold property outright, they will generally hold the title as either joint tenants with rights of survivorship or as community property. Joint tenancy is concurrent ownership, meaning two or more people own the property at the same time. The most compelling feature of a joint tenancy designation is the right to survivorship, […]
What Does a Join Account Really Mean?
If two or more people wish to combine their finances and share access to a single account, they can open a joint account. Business partners, parents and children, married couples or cohabiting couples will often choose joint accounts. The joint account with rights of survivorship is the most common type, and allows assets to pass […]