Posts by pwsadmin
3 Estate Planning Strategies to Support Family Harmony
Conceptually, people may think estate planning is exclusively about money. But money is just scratching the surface of estate planning concerns. There are considerable factors involved in estate planning, that do not include a representation of your bank account. Estate planning represents your life, your legacy, and your intentions. Your estate planning decisions could have…
Read MoreHealth Care Decision Makers and Surrogates
If you don’t Designate your Health Care Agent, it May be Decided for you. If you are unable to make your own healthcare decisions due to being incapacitated, healthcare providers will turn to surrogate decision-makers to discuss end-of-life issues. A proper surrogate must be identified as the decision maker for healthcare providers to turn to.…
Read MoreNew Year, Don’t Put Off Your Estate Plan
Can you believe it’s almost another new year? For some, the New Year can bring joy and happiness; for others, a reminder of unmet goals and regret. Right now, we’re in a season of change, a time for transition, as “time waits for no man”. Don’t Put Off Starting or Updating Your Estate Plan! Starting…
Read MoreWhy Do Most People Not Have an Estate Plan?
Some just don’t see a need to have an estate plan because they anticipate good health, while others do not view their assets to be anything worthy of an estate plan. EVERYONE should have an estate plan, but only a few people actually have one. The ones that do have an estate plan often fail to update outdated estate planning documents.
Read MoreGetting Married Again? What to Know About Estate Planning
In a second marriage, if you have children from a previous marriage, there may be conflicting interests between your spouse and children which can foster dissension between all parties should something happen to you. Your estate plan should have precise terms to avoid or reduce conflict as it would clearly define the exact rights of your beneficiaries, as well as the responsibilities of any trustees or beneficiaries. All parties involved should have a clear picture of your requests and know your exact wishes. Meeting with all parties within a blended family while you are still alive and coherent is a good means of directly sharing your wishes, and can aid in the reduction of any disagreements or misunderstandings should you pass.
Read MoreGetting a Divorce? How a Divorce Affects a Trust.
You get married, you plan on living happily ever after together… no one expects their marriage to end in divorce. You should safeguard your assets. Those with sizable business interests or assets should have a plan in place that protects their interests in case of a divorce.
Read More5 Things An Executor Should Do After Someone Dies
Your brother told you that you are named in his Will as the Executor of his estate. He did so because he trusts in your judgment on family and financial matters. Your brother has now passed away, and you’re wondering where to begin. As a California Estate Planning and Probate Firm, we put together a to-do list of what you should do within the first week of someone’s death.
Read MoreProbates, Probate Alternatives, and Summary Probate Proceedings
What Is Probate? Probate is defined as a legal process during the review of a will, determining its validity and authenticity. Probate is also known as the administration of the deceased will or their estate if there is no will involved. When the asset-holder has passed away, the court is able to appoint either an…
Read MoreTrust Administration
What is Involved in Trust Administration? In a testamentary trust, trustees have either been appointed for a living trust, or a will and must perform duties to the highest possible standards of honesty and loyalty. Trustees are expected to maintain impeccable records while furnishing and preparing accountings for the beneficiaries of the trust. In the…
Read MoreEstate Administration
What Does Estate Administration Involve? Estate Administration is the process of gathering and distributing of assets and property after an individual’s death. Differing from state to state, time-frames for the administration of an estate can also vary, depending on whether or not all required documents are set up, the estate’s value, and extent, and how…
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