Are you visiting an Estate Planning Attorney Soon? Here are three questions to ask:

Which estate planning attorney you use is a very important decision. Unlike other areas of law, this attorney could be helping you and your family through their estate plan for decades and even for generations. Further, you must trust this person because often the fruits of their work are delayed, and you need to assure that the attorney is knowledgeable enough to guide you properly because often the plan is not used until you have passed away and it is too late to make mistakes. In a nutshell: Be sure you interview your attorney to make sure this is the right person for the job. Here are three questions that you can ask to your potential estate planning attorney to make sure they are the r

What is the Difference Between a Will and Trust?

Many ask themselves what is the difference between a will and trust when they are thinking about estate planning. What are the benefits and drawbacks of each planning instrument and which is right for you? I have put together a quick guide so that you can determine which you will use in your estate plan. What are the benefits of a will? Name Guardians for minors: You can only name a guardian for minor children in a will. This is so that the court can still oversee the process of placing a minor with a new legal guardian. Naming a personal representative: You can only name, what historically was called an executor, a personal representative, in a will. A personal representative is the person

Do I Really Need a Will?

In the United States, most people do not have a will and they should. The fact is that any size estate, whether you are the wealthiest family, or you have meager possessions. This is because there are two kinds of wills that serve different purposes. The first kind of will is one that should be executed by those that have any amount of possessions. This is the kind of document that you typically think of when you think of a will. A lengthier title may be “Last Will and Testament.” This kind of will contains instructions on who oversees your estate when you pass, often called an “Executor,” or a “Personal Representative”. This kind of will also contains instructions on who can receive your re

Do I Really Need a Trust?

In the state of California, the answer is typically yes, but before we just write a blog with one sentence let’s explore some of the reasons you might or might not want a trust. Some people think that they do not have enough assets to create a trust. This should not stop you from discussing whether a trust is a necessary thing for you. I typically advise people that come to my office that the amount of assets that someone needs to have to start thinking about creating a trust is if you have a home or if you have minor children and life insurance that you would like to pay out to them to support them should you pass away unexpectedly. Why do I use this as the bar for whether you need a trust?

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