Too often, people fall into the trap of crafting a comprehensive estate plan and then leaving it locked away in their safe deposit boxes for years and decades to come. In fact, individuals should review and revise this set of documents at regular intervals to ensure...
Understanding estate tax portability
The deeper people in California get into the estate planning process, the more they recognize that there are a number of opportunities available to them to avoid certain expenses and retain assets for their beneficiaries. Examples of this include making plans to avoid...
When should you change or review your advance directive?
As part of estate planning, you created an advance medical directive so your loved ones know your desires regarding health care if you cannot make or voice your desires. Do you expect to change this legal document? Mayo Clinic describes circumstances that may...
What documents should you include in your estate plan?
Creating an estate plan is one of the most important things you will ever do, as well as one of the most personal. Your estate plan should reflect your values, wishes and needs. Therefore, there is no one estate plan that is ideal for everyone. Each should be unique...
How a trust can improve a life insurance policy
Many parents who do not have wealth or assets to spare purchase life insurance policies to prepare for the worst-case scenario where they do not live to raise their children. This proactive step along with a will is a good start, but it does have its downsides due to...
Who are the key figures in your plan?
When creating your estate plan, you will likely have several notable figures within it. It is important to understand who these are and what role they play in your overall estate plan. For example, some figures will have an active role. Others play a passive role. But...
How should you prioritize your estate plan review?
Crafting your estate plan can take years at a time. Reviewing it is not always an easy task, either. This puts some people off, despite the importance of somewhat regular reviews. Fortunately, there are ways you can organize your estate plan review to make it easier...
What should you include in an advance directive?
An advance directive provides reassurance that you will receive the kind of health care treatment you want even if you become incapacitated. Having a plan in place can also provide your loved ones with direction to know how to respond to your medical needs during a...
What does an estate administrator do?
When someone designates you as the executor of his or her will, you become the personal representative, i.e., estate administrator, of his or her probate estate when he or she dies. As such, you will need to perform various duties in order to open, manage and...
What are the different types of advance directives?
While tending to estate planning matters, you learn about advance directives. Did you know that different advance directives exist? The American Cancer Society breaks down different advance directives. Get insight into covering all bases in your estate. Living will...
