Probate is the legal process that takes place when your last will is admitted to the probate court. There are some pitfalls that go along with the process of probate in California. For one thing, probate is a public proceeding, so prying eyes can access probate records and find out exactly what went on during the process. Many people would like to keep their final affairs confidential. Time is another factor. You probably want your assets to be distributed to your heirs in a timely manner. … [Read more...] about Probate in San Jose California: Can You Avoid It?
Estate Planning 101: What Is California Probate?
Estate planning can be viewed as something that is done on paper. Indeed, it does involve the execution of legally binding documents. However, there is also a human element to consider when you are engaged in your estate planning efforts. Recording your wishes on paper is one thing, but how are these wishes going to come to fruition after you pass away? There is a postmortem element, and you should think this through thoroughly when you are planning your estate. There are various different … [Read more...] about Estate Planning 101: What Is California Probate?
Attention to Detail Is Key When Planning Estate
There are a plethora of details to attend to when you are planning your estate if you want to be comprehensively and effectively prepared. Simply looking for the easy way out is a recipe for disaster. Speaking of easy ways out that can yield disastrous results, you would do well to take pause before trying to construct a last will using an online tool. Experts have weighed in on the subject, and unintended consequences can result when you try to go this route. Additionally, as a layperson are … [Read more...] about Attention to Detail Is Key When Planning Estate
The Anatomy of a Revocable Living Trust
A revocable living trust can be a good choice when you are deciding how you will be passing along assets to your heirs. The primary reason why revocable living trusts are utilized is to avoid probate. When a will is admitted to probate, the probate court determines its validity. If anyone wanted to contest the validity of the will, they could do so while the probate process is underway. Creditors could seek payments from the estate during probate, and final taxes must be paid. The executor of … [Read more...] about The Anatomy of a Revocable Living Trust
Three Commonly Asked Questions About Revocable Living Trusts
If you decide to put the procrastination behind you and start to get serious about estate planning, you are going to want to obtain some answers. There are innumerable different legal devices that are used in the field of estate planning. Depending on your unique circumstances, various different courses of action may be appropriate. Many people assume that they should use a last will to direct future asset transfers, but in fact a revocable living trust may be a better alternative. With a … [Read more...] about Three Commonly Asked Questions About Revocable Living Trusts
Lengthy Probate Process Expected in Gibb Case
When you read about celebrity estate planning cases you can sometimes take away some instructive lessons. With this in mind, we would like to take a look at the limited but interesting information that has been made available about the Robin Gibb estate. Gibb was a singer with the popular group the Bee Gees. The group sold millions of records over a number of decades, and as a result Robin Gibb passed away with a considerable amount of wealth. According to the Daily Mail, the Gibb estate is … [Read more...] about Lengthy Probate Process Expected in Gibb Case
Free California Living Trust Report Now Available
There is a lot of questionable information that circulates on the Internet about estate planning, and certain misconceptions can arise. We have noticed that this is especially true when it comes to living trusts. As a response, we have created an informative report to share with you, free of charge. To download your free report, follow this link and complete the brief form that you see off to the right so we can send you access to the information: California Living Trust Report One of the … [Read more...] about Free California Living Trust Report Now Available
Comprehensive Planning Includes Postmortem Action Plan
You must have a postmortem action plan if you want to make comprehensive preparations for the inevitable. While it is important to position your assets optimally and execute the appropriate estate planning documents, you must also consider the hands-on tasks that must be completed to make your final wishes a reality. When you explain your situation to your attorney, he or she will gain an understanding of your financial position and make recommendations with regard to possible tax efficiency … [Read more...] about Comprehensive Planning Includes Postmortem Action Plan
Probate Court Sets Hemsley Estate Trial Date
We always keep an eye on celebrity estate planning cases because you can learn a lot from the successes and failures of others. Along these lines, we recently passed along some news about the estate of the deceased comedic actor Sherman Hemsley. A Philadelphia resident stepped forward to stand in the way of Hemsley's longtime partner Flora Enchinton receiving an inheritance and having the ability to put Hemsley's body to rest. This individual claims to be Hemsley's brother. Enchinton lived … [Read more...] about Probate Court Sets Hemsley Estate Trial Date
Create a Clear Cut Path for Executor
Estate planning is one thing, but estate administration is another. Yes, you have to ask yourself how you want your assets distributed after you pass away. Once you know what you want to achieve, the next step is to sit down with a good inheritance planning lawyer to state your wishes in writing in a legally binding manner. However, there are actions that must be taken after you pass away. If you use a last Will as your primary vehicle of asset transfer, you must select an executor to actually … [Read more...] about Create a Clear Cut Path for Executor
