Many people assume that creating a will is all they need to do to ensure their assets pass to their loved ones when they die. However, in California, having a will does not necessarily mean your family can avoid probate, a court-supervised process that can be expensive and time-consuming. One of the most significant expenses associated with probate is California's statutory fee structure, which calculates attorney and personal representative compensation based on the gross value of assets … [Read more...] about What Are the California Statutory Probate Fees?
A Discretionary Trust Can Protect an Unprepared Heir
Leaving money or property to someone you care about feels like a straightforward act of support. Unfortunately, there are situations in which an heir is not prepared to manage an inheritance, and that financial gift can quickly turn into a source of stress, conflict, or loss. Young adults, family members with poor money management skills, or loved ones navigating personal turbulence rarely benefit from receiving a large windfall in a single payment. If you want to provide for someone while … [Read more...] about A Discretionary Trust Can Protect an Unprepared Heir
Is Your Estate Plan Living in the Past? 10 Signs It May Be Time for an Update
An Estate Plan can be signed, stored, and still be outdated. Major life changes, old beneficiary designations, unfunded Trusts, and outdated incapacity documents can all create problems when the plan is needed most. Read on for ten signs that your Estate Plan may be living in the past. Read on to learn more. … [Read more...] about Is Your Estate Plan Living in the Past? 10 Signs It May Be Time for an Update
Is There an Estate Planning Approach for Irresponsible Heirs?
Leaving a legacy is a deeply personal act, but what happens when you fear your heirs might squander their inheritance? In Campbell, California, where tech wealth meets traditional family values, this concern is all too common. Many parents worry that a sudden windfall could enable reckless spending, substance abuse, or financial dependence rather than independence. The good news is that California law offers robust tools to protect both your assets and your heirs from poor decisions. The … [Read more...] about Is There an Estate Planning Approach for Irresponsible Heirs?
How Often Should You Update Your Estate Plan?
How often should you update your estate plan? As a general rule, you should review it every three to five years and update it promptly whenever a significant change occurs in your family, your finances, or the law. The Three-to-Five Year Rule Even when your life feels stable, the world around your estate plan keeps changing. Tax laws shift. The people you named as trustees or executors grow older, relocate, or become less suited to the role. Assets you once owned may have been sold, and new … [Read more...] about How Often Should You Update Your Estate Plan?
Living Trust vs. Simple Will: You Be the Judge
When planning for the future, every individual faces a fundamental choice regarding how their assets will be managed and transferred. The two most common tools used to accomplish this are the simple will and the revocable living trust. At first glance, both documents appear to accomplish the same basic goal: ensuring your property reaches the specific people or organizations you choose. However, putting them head-to-head reveals vast differences in speed, privacy, cost, and control. In … [Read more...] about Living Trust vs. Simple Will: You Be the Judge
New College Students Need Advance Health Care Directives
The transition to college is a milestone filled with packing lists, course enrollments, and newfound independence. For parents in Campbell and throughout the Silicon Valley, sending a child off to college brings a mix of pride and anxiety. While you are likely focusing on housing contracts or tuition payments, there is a critical legal reality that frequently gets overlooked in the rush to campus. Once your child turns 18, they are legally an adult. This status changes your legal … [Read more...] about New College Students Need Advance Health Care Directives
When the Beneficiary Is the Defendant: Slayer Statutes and Estate Planning
Usually, a slayer statute question is straightforward because the person accused of the killing is also the person named to inherit. This one may not be. Nick Reiner has asked a Los Angeles probate court for access to a Trust his parents created for him when he was a baby, and the distribution he seeks reportedly came due before they died. That timing raises a harder question than the headlines suggest, while also reminding us of something far more ordinary that every Estate Plan should address. … [Read more...] about When the Beneficiary Is the Defendant: Slayer Statutes and Estate Planning
Caring for Two Generations: The Estate Planning Challenges of the Sandwich Generation
Many adults today are navigating two important roles at once: caring for their children and for their aging parents. The “sandwich generation” often finds itself balancing parenthood, careers, caregiving responsibilities, medical concerns, and difficult conversations about the future. While this role comes from a place of love, it can be a lot to carry. Thoughtful estate planning helps ease some of that weight, ensuring caregivers can provide for everyone in their family. When two generations … [Read more...] about Caring for Two Generations: The Estate Planning Challenges of the Sandwich Generation
Turning Fear into Peace of Mind: Meet Associate Attorney Andrew Morris
The loss of a loved one brings more than grief. Families are often suddenly faced with unfamiliar responsibilities, important financial and legal decisions, and questions about what needs to happen next. For Andrew Morris, Lead Estate Administration Attorney at Litherland, Kennedy & Associates, helping families navigate that uncertainty is one of the most rewarding aspects of his work. “People who come to us are going through a time in their life that they possibly have never … [Read more...] about Turning Fear into Peace of Mind: Meet Associate Attorney Andrew Morris
