Learn from the past, set vivid, detailed goals for the future, and live in the only moment of time over which you have any control: now.
– Denis Waitley
A spendthrift trust can be useful if you have qualms that an heir will act irresponsibly with an inheritance or sell the right to payments if it is put into a trust fund. Individuals who suffer from drug or alcohol addiction may well be at risk for wasting an inheritance in order to support their […]
When should you use a spendthrift trust? Read More »
The recent 10-day visit by the Pope Francis attracted large crowds and television viewers who were mesmerized by his presence and his message. Nearly every facet of his visit was a tribute to his idea of Catholic values, including his interaction with inmates and the disabled. There are approximately 70 million Catholics residing in the
Catholic issues within estate planning Read More »
Under California law, the separate property of each spouse is differentiated from the community property of the couple. The California Family Code states that all property obtained by each spouse during the marriage is community property “except as otherwise provided by statute.” One of the statutes is Family Code 771, which says that the earnings
Living separate and apart in the family home Read More »
It has become increasingly common for family members to contest their inheritances. Such probate and estate disputes can alienate family members against each other, and cause irreparable harm to relationships among beneficiaries. An effective remedy is mediation, which is a type of alternative dispute resolution (ADR) to reach a settlement between parties. The principal role
Use of mediation to handle probate and estate disputes Read More »
The tax filing deadline of April 15 has come and gone, a fact that serves as a reminder that same-sex couples should not neglect some estate-related tax matters. Among the most important benefits that same-sex couples will be able to realize under federal law is the spousal exemption from estate taxes. However, it is also
In tax season, married same-sex couples must not overlook key estate planning choices Read More »
Estate administration concerns the collection and management of the assets of the decedent. It also involves payment of the decedent’s debts and distribution of assets to beneficiaries. The process of estate administration has been facilitated by the adoption of the Uniform Probate Code (UPC) by about 20 states. Probate is a legal process that involves
The process of estate administration Read More »
One of the most important issues an individual faces during his or her estate planning is the question of how that person’s loved ones will be cared for after the will writer dies, as well as what will happen to that person’s assets. Usually “loved ones” means children or other close relatives or friends, but
There are ways to provide for a pet through proper estate planning Read More »
An individual who is planning for their estate always wants to make sure that their will or trust will be valid in the courts and, in particular, that those estate-planning vehicles are not successfully challenged. The course of action that many people opt to take in order to avoid the latter outcome is to add
A no-contest clause can help prevent a court challenge to a will or trust Read More »
Much of estate planning, including the drafting of a will, involves preparing for different contingencies. One of the most important contingencies a person should make preparations for in a will is the possibility that the will writer may outlive one of his or her beneficiaries. One way to plan of this possibility is the naming
It is important for individuals to name alternate beneficiaries when drafting a will Read More »
One of the most important decisions many people must make during estate planning is how to leave an inheritance for their children. One of the more popular and reliable vehicles for bequeathing property to children is through trusts. The consequences of not making arrangements for the proper management of an underage child’s inheritance could turn
Trusts are a trusted way of ensuring that an inheritance passes to children as intended Read More »
