As you mature, you may start to take the matter of estate planning more seriously than you did as a younger person. Many people start to look for information as they come to the realization that planning ahead for the well-being of their families is indeed important. However, you should ideally have an estate plan in place from the time you first become a responsible and self-supporting adult. Estate planning is truly essential for people of all ages. You can become more motivated if you have … [Read more...] about Take Action to Obtain Your California Estate Planning Report
Obtain Legal Advice Prior to Remarriage
We have all heard the statistic that approximately half of marriages end in divorce. However, the majority of second and third marriages do not last and this is something to consider when you are planning your estate. When you decide to remarry, it is a good idea to obtain legal advice. Many people who enter into second or third marriages have been able to accumulate significant financial resources. You are taking quite a leap of faith if you do not enter into a prenuptial agreement before … [Read more...] about Obtain Legal Advice Prior to Remarriage
Use Caution When Including Person With Special Needs
Part of the process of inheritance planning will involve deciding who you would like to name to receive your estate assets. However, it is also important to consider the methods that you will use to arrange for the transfer of assets to the people who are on your list. If you just give direct inheritances to everyone that you want to include, you could be doing some family members a disservice. There are those who are really not ready to handle a large influx of financial resources, and some … [Read more...] about Use Caution When Including Person With Special Needs
A CRUT May Be a Viable Solution
There are certain advanced estate planning tools that enable individuals to satisfy multiple objectives at the same time. One of these is the charitable remainder unitrust or CRUT. Many people would like to leave something behind to charity after they pass away. There are a number of different ways to do this, and you can explore all of your options by setting up a consultation with a good estate planning lawyer. When you speak to an attorney, you will learn about charitable remainder … [Read more...] about A CRUT May Be a Viable Solution
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
Medicare Part B Premiums Rising
When you are planning for your retirement years, it is important to understand what you can expect from Medicare and Social Security. Many people go forward with the misconception that these two government programs provide a comprehensive, turnkey retirement solution, but this is simply not the case. There are premiums and deductibles that must be paid while you are participating in the Medicare program, so it is not truly free health care. And, it should also be noted that Medicare will not … [Read more...] about Medicare Part B Premiums Rising
Don’t Make Uninformed Assumptions About Living Trusts
The general perception about trusts is that you are divesting yourself of personal ownership of assets that you place into the trust. This understanding can lead to unintended consequences because it is not entirely true. One of the most popular estate planning vehicles is the revocable living trust. With these trusts you facilitate the transfer of assets to the beneficiaries outside of the probate process. People often take steps to avoid probate because of the fact that it can be costly, it … [Read more...] about Don’t Make Uninformed Assumptions About Living Trusts
Medi-Cal Planning: Will I Lose My Home?
Medi-Cal is the California Medi-Cal program that will pay for a stay in a nursing home or an assisted living community if you can qualify. Because there is a small upper resource limit of $2,000, your first thought may be that there is no way that you can qualify for the program because you are a homeowner who has some savings. In fact, it is possible to qualify for Medi-Cal while keeping assets in the family. The Kaiser Family Foundation tells us that seven out of every 10 individuals who are … [Read more...] about Medi-Cal Planning: Will I Lose My Home?
Spouse of Military Retiree Won’t Receive Pension
The best way to engage in veteran's benefits planning is with the assistance of a licensed and experienced San Jose estate planning lawyer. There is a lot to take into consideration, and you don't want to make any assumptions that create difficulties, or fail to take advantage of benefits that are available to you. Understanding all the different veteran's benefits that you may qualify for is part of the equation. But, you also have to examine how these benefits fit alongside the civilian … [Read more...] about Spouse of Military Retiree Won’t Receive Pension
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
