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?
The key to successful estate planning is expertise. When you work with a good estate planning attorney to gain a thorough understanding of all the factors involved, you can make intelligent and informed decisions for the well-being of your loved ones. Some people are under the impression that you can use some kind of generic template document that you find online to execute a last will on your own. In fact, there is a lot more to it than filling in the blanks on a worksheet, and a last will is … [Read more...] about Trust Administration: Educate Yourself
The matter of estate administration is something to take into consideration when you are making preparations for the inevitable. Who would actually handle the hands-on tasks that will be involved in making your wishes come to fruition? When you use a last will to direct future asset transfers, the executor or executrix will be the individual who is charged with these responsibilities. The duties can be quite extensive if you have a great deal of property that must be prepared for distribution … [Read more...] about Provide Your Representative with Pertinent Information
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
When you see websites offering do-it-yourself estate planning kits, they tell you that it's as easy as filling in the blanks. An estate plan is just a bunch of paper. You fill in the fields (that may or may not address all of your interests), stick the papers in a lock box somewhere, and the matter is handled. Why make it harder than it really is? In reality, there is a lot at stake, each case is different, and there are variables to take into consideration. DIY estate planning shortcuts are … [Read more...] about Estate Administration: Careful Decisions Required
While it is important to make sure that your intentions are known via the execution of the appropriate estate planning documents, you must also keep estate administration in mind. Recording your wishes with regard to who gets what is one thing, but you also have to make provisions for administering the estate because things simply do not take care of themselves. After you pass away, the estate must be probated if you use a last will to elucidate your wishes. Someone must take care of the … [Read more...] about Keep Estate Administration In Mind