The purpose of a California special power of appointment is for the maker (the testator) of a will or trust to give an executor or other beneficiary broader powers to distribute certain assets to a group of beneficiaries in the testator’s will or trust. An example of when a special power of appointment would be […]
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When a caretaker has mom or dad make the caretaker the beneficiary of their estate
See CA Probate Code 21350 et. seq. California recently passed a new law that clarifies language as to who is considered a caretaker and under what circumstances a transfer from the sick or weak person to their caregiver may be considered fraud, undue influence, duress or menace The statute is designed to protect people who […]
How to avoid conservatorships by using general powers of attorney and powers of attorney for health care
A conservatorship can be avoided if you plan ahead while you healthy and choose a legal representative to handle your financial affairs and property if you are unable to manage them on your own due to an unexpected injury, illness, temporary or permanent disability, or incapacity. Having a power of attorney in place, allows you […]
What’s a Trusted Helper and Why Do I Need One?
A trusted helper is an individual (or firm) that you choose to carry out your estate plan. Even if you’re a very independent do-it-yourselfer, you will need help should you become disabled and when you die. Specifically, every estate plan needs several trusted helpers: Executor of the will Successor trustees of the trust Guardians for […]
The $32 Billion Reason You Need to Organize your Financial and Estate Planning
Officially, there are over $32 billion in unclaimed funds, in large part, because loved ones didn’t know that they existed. There are likely billions more in unclaimed funds that are never reported. Unless you keep good records, provide passwords, and organize your financial and estate planning matters now, how will your loved ones know to […]
Stay in Control with These 3 Estate Planning Documents
One of the most highly cited goals of estate planning is staying in control; therefore, most estate plans are designed to keep you in control. To stay in control, you must have these 3 estate planning documents. 1. Will Your will keeps you in control of your children, the distribution of your property, and the […]
Is Your Estate Plan as Stale as Last Week’s Bread?
Just like bread, your estate plan can get stale. Just not quite as fast. As stale bread won’t work for your peanut butter and jelly, a stale estate plan won’t work to carry out your estate planning goals. Here is a list of 10 ways to know if your estate plan is stale. Your documents […]
How to Choose Your Trustee in 5 Easy Steps
Choosing the trustee of your living trust is an important task and shouldn’t be made without thorough thought. The trustee of your trust will serve if you are no longer able to serve, through disability or death. This is the person who will step into your shoes and carry out your instructions. Here are the […]
Don’t Take “No” for an Answer from the Life Insurance Company
As Bloomberg.com reports, life insurance companies are part of the wide spread “Delay, Deny, Defend” mindset that has been attributed to property and casualty insurance companies. A common life insurance company ploy is refusing to pay on accidental death policies and stating that the death was a suicide and, therefore, not covered under the policy. […]
7 Things You Need to Know about Your Estate Plan
Here is a list of 7 things our clients often haven’t realized, before they walked into our office. But, thanks to our discussions and a comprehensive estate plan, our clients are now on the right track. Check out this list of 7 things you need to know (but may not know) about your estate plan. […]