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[...] Having a tank doesn’t mean you have a battle plan.  Having a trust doesn’t mean you have an estate plan.  A trust is only one of the tools we use in creating a comprehensive estate plan. What an [...]

[...] family is unique, and has unique goals and desires for their beneficiaries. Our goal in every estate plan we create is to make those goals a reality. Here are five key questions to ask yourself about [...]

[...] Creating an estate plan is a partnership between you and your estate planning attorney. Like a good architect designing [...]

[...] other affliction that leaves you disabled for years, you’ll need an estate plan. 2. I’m going to live forever Most people would recognize this statement as being silly if they [...]

[...] , and oil is the race car ready to tear up the track. What is less understood is that your living trust without fuel is simply a coffee table decoration, and not a very attractive one at that. How [...]

[...] revoke it.  It is all up to you! Conclusion If you own property, or have children, the living trust is the preferred estate planning vehicle. Image courtesy of Master isolated images / [...]

[...] to complete, delaying the time it takes for heirs to see any of their inheritance. Why A Living Trust Is Your Ticket to Probate “Freedom” Most people choose a living trust when completing their [...]

[...] your wishes, they could face tax consequences for making gifts over $14,000 annually. Why a Living Trust is a Superior Approach If a bank account has been properly transferred to a living trust, the [...]

[...] . We had to create an entirely new set of documents for them. Other problems arise when the successor trustee or beneficiaries don’t’ know where to find the trust documents. An entirely different [...]

[...] everyone is the person who has a tough time making decisions. Integrity When you select a successor trustee, you want to be able to trust that they will carry out your wishes faithfully. That persons [...]

[...] ’s and personal property insurance policies continue to be in force and effect.  As Successor Trustee you may need to have the policies “endorsed” to the Trust, and name you as the [...]

[...] attorney can help you sort through the different options to assuming the position as Successor Trustee.  He or she can then prepare the necessary documents you’ll need to present to banks, [...]

[...] plans have forms that are no longer current. If your document title is “Living Will” or “Durable Power of Attorney for Health Care” you should have it reviewed. Those documents have since been [...]

[...] plans have forms that are no longer current. If your document title is “Living Will” or “Durable Power of Attorney for Health Care” you should have it reviewed. Those documents have since been [...]

[...] to take copies of the Durable Power of Attorney to any banks or financial institutions you need to manage on their behalf.  You’ll [...]

[...] check with your attorney. 2. Implement your incapacity plan Your Health Care Directive and Durable Power of Attorney are designed to protect you in the event that you become incapacitated, or need [...]

[...] choice in charge unless you take control. Taking Control of Your Medical Care – The Advance Health Care Directive Most medical providers will have a HIPAA complainant form available to sign when you [...]

[...] their estate plan, and particularly their Durable Power of Attorney and their Advance Health Care Directive. Once you locate those documents, you’ll need to take copies of the Durable Power of [...]

[...] the bank has it on file when the need arises. Give your doctor a copy of your Advance Health Care Directive. Consider giving your agent a copy of the documents as well. If you’re [...]

[...] Care” you should have it reviewed. Those documents have since been replaced with the Advance Health Care Directive which includes language to deal with HIPAA and other changes in health care laws. [...]

[...] save a million dollars or more for an IRA owner’s family with its income tax reduction and asset protection planning features. Image courtesy of scottchan / FreeDigitalPhotos.net [...]

[...] also be used to enhance value the inheritance by “wrapping” the inheritance with some asset protection planning. Who should take care of me if I can’t? Few people realize that estate [...]

[...] of receiving the inheritance and you’ll need to trace where it all went. The Advantage of Asset Protection The above advice is good for your children living in California, and probably good for any [...]

[...] create your estate plan, consider the benefits of a personal asset trust for a lifetime of asset protection for your children. Image courtesy of renjith krishnan at FreeDigitalPhotos.net [...]

[...] people you intend to leave your property and retirement actually receive your property and retirement accounts?  If you have changed your mind, or have had a change in your life, like a new spouse or [...]

[...] with Mr. Beadle for more. When discussing options for life insurance policies, retirement accounts (IRA’s, 401k’s, etc.), and in naming beneficiaries in a will or trust, there are [...]

[...] time share, the furniture in your house, and more.  What is not in your estate are your retirement accounts (401k’s, IRAs, etc), and life insurance policies that have a person as the designated [...]

[...] if that hasn’t been done, or correct the beneficiary designation on your IRAs or your retirement accounts. Perhaps more importantly is the ability to adjust your estate plan and reconfigure [...]

[...] . You should review your beneficiary designations on a regular basis with your attorney or financial advisor to ensure that all is in order. “Investment” by jscreationzs [...]

[...] the first spouse, so it is important to discuss taking any necessary steps with an attorney. Financial Advisor It is amazingly easy to accidentally create a huge tax bill or other negative financial [...]

[...] you trust to handle your financial life – your tax preparer, your insurance agent, your financial advisor, etc. 5. Guard the physical documents This may seem obvious, but I’ve worked with a few [...]

[...] large sum of money. Option 2: Use an UTMA Designation With some simple language, the beneficiary designation can specify a custodian to manage the money under the California Uniform Transfer to [...]

[...] the ability to get your assets into your trust if that hasn’t been done, or correct the beneficiary designation on your IRAs or your retirement accounts. Perhaps more importantly is the ability to [...]

[...] the ability to get your assets into your trust if that hasn’t been done, or correct the beneficiary designation on your IRAs or your retirement accounts. Perhaps more importantly is the ability to [...]

[...] spent a lot of time in court, and probably have more court experience than most estate planning attorneys.  Because of that experience, I know how family disagreements get resolved, and [...]

[...] don’t protect them from because the plans use outright distributions.  Most estate planning attorneys will simply ask you, “Do you trust these people to handle money?”  And you say [...]

[...] to community property.  In legal jargon, that’s called “transmutation”.  Estate planning attorneys will often discuss the tax advantages of making that change in title with their [...]

[...] which includes language to deal with HIPAA and other changes in health care laws. Financial Decisions Too – The Durable Power of Attorney With our estate plans, in addition to your trust [...]

[...] you’ll make as part of your estate plan. The right person will be able to manage the financial decisions, as well as manage the family dynamics to prevent conflict. When should my beneficiaries [...]

[...] its individual components, the pieces work together to accomplish four purposes. It Avoids Probate Probate is a time consuming and expensive process.  It also exposes your children to predators since [...]