Studies are conducted periodically to gain an understanding of the estate planning preparedness of adults in the United States. Unfortunately, the results are never encouraging.Most people that are over 65 have a will or some other estate planning document, but a significant percentage of people in this age group do not. The vast majority of Americans that are under the age of 40 are completely unprepared.If you are a young adult and you are single, you should have a will or a trust, but … [Read more...] about Estate Planning: Make Today the Day
We see Wills in movies and TV shows all the time – people are always talking about creating or updating their Wills, but what does a Will do? In this video, Attorney Justin M. Kennedy discusses the 4 roles of a Will.Litherland, Kennedy & Associates, APC, Attorneys at Law are members of the American Academy of Estate Planning Attorneys. If you would like to learn more about the importance of estate planning, we invite you to attend one of our free estate planning seminars. … [Read more...] about 4 Roles for a Will (Video)
Whether You Should Disinherit Your New Spouse andHow California Law Protects Your Omitted Surviving Spouseby Magdalena A. LaBranch-GonzalesLitherland, Kennedy & Associates, APC, Attorneys at LawWhat happens if you marry your spouse after you created your estate plan but they are not mentioned in your plan when you die? California considers that person an “omitted spouse.”[i]An “omitted spouse” is a spouse who married the decedent after the estate plan was already created but … [Read more...] about When You Love Your New Spouse, But You Love Your Kids More
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education,American Academy of Estate Planning Attorneys, Inc.On a hot summer day, few things are more fun than swimming. Hannah Collins went swimming on such a day in the Edisto river near Charleston, South Carolina. She swam often and was nicknamed “river rat” by her father. But, while swimming one summer day, she became infected by an unseen danger, a rare amoeba, Naegleria fowleri, which is known as the “brain-eating … [Read more...] about You Never Know: Planning for the Unexpected
If you would like to learn more about revocable living trusts, attend one of our free living trust seminars: https://www.attorneyoffice.com/seminars/ … [Read more...] about Why Would I Want a Revocable Living Trust?
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education,American Academy of Estate Planning Attorneys, Inc.Blended families require special planning. Sometimes, the children from the prior marriage bond with the new spouse and the family moves forward in a happy, newly modified form. However, frequently, the new marriage brings conflict between the new spouse and the children of the prior marriage. Such is the case with the Sagers.In 1980, sports reporter Craig Sager … [Read more...] about Sager Family Shows Perils of Blended Families
There are a number of 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.You may have heard about the numerous benefits of living trusts. In this blog post, we will address three of those benefits.Avoiding ProbateOne of the … [Read more...] about Three Benefits of a Living Trust
When an individual dies owning property solely in his or her name without a beneficiary designation, a formal procedure ("probate") is usually needed to determine to whom the property should pass. If there is a valid Will, the probate court will oversee that property passes according to the terms of the Will. If there is no Will, the property will pass to the individual's heirs at law through the probate system.However, it is possible to legally pass property to another person without going … [Read more...] about Avoiding Probate (An Elder Law Today Blog)
Studies show that a majority of American adults do not have a complete and cogent estate plan in place. Failing to plan ahead for death and the likelihood of incapacity in our later years can be costly, both emotionally and financially.Many people do not have an estate plan because they don't understand the importance of estate planning. We will highlight some of the key reasons why estate planning is essential in this blog.Avoiding IntestacyIf you pass away without any estate … [Read more...] about Why is Estate Planning Important in 2016?
Helping to keep our community informed is important to us. We regularly get out into the community to provide helpful information to people here in the greater San Jose area. To this end, we present an ongoing series of informational workshops covering various elder care and estate planning topics.Our workshops and seminars are free of charge and open to the general public. During the month of January, we will be offering seminars that focus on the subject of living trusts.Why Consider … [Read more...] about Free Living Trust Seminars in January