Author Archives: TCK

Nobody Has Died, So Why Is This Estate Issue Going to Court?

When it comes to planning your estate, preparation is always advised over procrastination. However, one California media mogul may be taking preparation to a whole new level His estate issue could be heading to court long before he actually passes away. Taking an Estate Issue to Court Before You Die Media titan Sumner Redstone is known for many things around California. His reputation includes having legal troubles with his former girlfriends. However, one of these legal conflicts could land Sumner in California legal history. That’s because a probate trial for his estate could soon get underway, and Sumner will be…

Seven Ways to Make a Strong Estate Plan

Did you know that when your estate goes into probate it automatically loses value? Depending on the estate, that loss can be an estimated five percent. Your estate can also wind up tied up probate courts for years depending on your family circumstances and the strength of your planning. So, how do you make a strong estate plan that can keep these events from happening? Seven Steps to a Strong Estate Plan Make a List of Your Assets – When they pass, some people don’t let their families know what accounts and assets they hold. Considering this digital age where…

Can I Include My Pet in My Estate Plans?

They may not be people, but we do consider them family. Dogs, cats, birds and other pets that we feed and nurture can become a big part of our lives. But what happens when these loyal companions outlive us? Is there any way for us to secure care for them in our estate plans? What Happens to Our Pets After We Pass? Have you thought about what will happen to Fido—or your other pets—after you have passed? Many people don’t, and so these cherished family members are often left out of estate planning. When this happens, and a pet owner…

How Is a Conservatorship Created?

Most courts will assume that a grown adult has the ability to make one’s own financial decisions. However, if an adult becomes incapacitated, a court can direct the appointment of a conservator. A conservatorship refers to a court decision where a person or an organization known as the conservator is elected to watch over the financial affairs of a person. It is important in these situations to know when the court creates a conservatorship and under what circumstances. Why Would a Conservatorship Be Created? A court will decide to appoint a conservator for an elderly adult only in certain situations….

How Does the Trust Administration Process Work?

One benefit of having a trust is the fact that each trust can be unique and flexible to a person’s needs at that time. Some trusts can hold a limited amount of property and must be terminated a short time after the grantor’s death. Other trusts can hold millions of dollars worth of property and can provide assets to beneficiaries for many years. The amount of administering a trust requires can vary according to different factors, such as the type of trust, the number of beneficiaries, the amount of property in the trust, and much more. What Does the Trust…

What Are My Rights as a Will Beneficiary?

Estate planning can produce many different legal disputes since there are usually so many different people involved in a will or trust. One very important group of people that are vital to any estate planning will are the beneficiaries to that will. A beneficiary is someone to whom a deceased benefactor (also known as the decedent) gives real and personal property, money or other assets. The will must define who the decedent appoints as a beneficiary and the inheritance that they are to receive. If you have been named as a beneficiary to a family member or loved one’s will,…

Difference Between an Advanced Health Care Directive and a Power of Attorney

Estate planning is extremely important, but it can get quite complicated since there are so many different terms and concepts to understand. Many people get confused about the difference between a power of attorney and an advance care directive. This is because, at first glance, these two estate planning tools seem like they offer the same exact benefits, but this is not necessarily the case. If you are in the process of creating and organizing your estate plans and you have come across these two estate plan documents, you should know the difference between the two, so you can make…

What You Need to Know About Medi-Cal

Medical care and long-term nursing care can get very expensive and it’s important to plan in advance for these costs of care. As you age, paying for these expenses could become extremely difficult as well. Older clients may have a special interest in Medi-Cal planning, as it is never too early to plan and protect your estate. What is Medi-Cal and how will it accomplish these goals? Medi-Cal is a California and federal program that helps cover the cost of health care for qualifying low-income individuals and families. These people include: Seniors age 65 or older Disabled people Children Pregnant…

3 Ways You Can Avoid Probate in California

If you’re planning out your estate, you may have likely heard the term “probate”. You’ve probably also heard that probate is something you want to avoid. There are a couple of reasons why you’d want to avoid probate. The probate process can be expensive, as there are fees that will have to be paid. In addition, your estate may be used to pay for these costs, which could mean your surviving family will get a smaller amount from your estate than initially expected. Probate also places control in the hands of a judge. The judge will decide how assets are…

What Are Advance Healthcare Directives and How Can They Help the Estate Planning Process?

An advance healthcare directive is a legal document that details what kind of medical care you desire should you become incapacitated or unable to care for yourself. While no one can predict the future, it is best that you prepare for events such as you: Falling into a coma Becoming seriously injured Being terminally ill Developing severe dementia The kind of treatment you would want will be listed in your advance healthcare directive. The advance directive could give orders regarding treatment for terminal illness or comas including orders to end life support. The advance directive could also give orders to…