Many parents and grandparents don’t realize that a child, grandchild, or other beneficiary with a disability complicates an estate plan. If you have such a loved one you want to provide for in your estate plan, you need an appropriate trust even more so than someone without a disabled beneficiary…
Wouldn’t it be nice for your heirs to conintue to receive money from your estate long after you are gone? A recent article in Forbes Magazine listed the top celebrities whose estates continue to make money long after their death. Not surprisingly, Evis Presley comes out on top, with income…
We frequently get calls from prospective clients wanting to know if creating a trust will protect their assets from creditors or lawsuits. Unfortunately, they do not. A revocable living trust is a legal arrangement whereby you hold your assets in trust to be used and managed until your death when…
Many younger Americans, even though they have managed to buy a home and acquire a number of other assets, remain unfamiliar with estate planning issues. A survey conducted by Fidelity Investments reveals that many Americans between the ages of 30 – 49 do not know some of the key issues…
With the aging baby boomers now becoming seniors and people living longer in general, one of the issues seniors face, especially in this economy, is the possibility of needing long term care. The cost of nursing home care has risen tremendously in the last decade. A survey done by Metlife…
A will that is written in one’s own hand is called a holographic will and is valid in California. The basic requirements are: 1. The document must be completely written in the handwriting of the Testator (the individual creating the will). 2. The will must be dated and signed. 3.…
At Law Office of Scott C. Soady, A Professional Corporation we see trusts everyday that are drafted by other estate planning lawyers in San Diego or even by our own firm that cause some concern. Once your trust is drafted, it is intended to be reviewed periodically and also there…
What is the meaning of the term “capacity” in California? Many people, particularly estate planning lawyers toss the term “capacity” out as though everyone knows what the term means. Often you hear people talk about someone “losing capacity” in the sense of not being able to make a will or…
Often as parents or grandparents, we want to give or loan money to our children or grandchildren. Sometimes these amounts can be substantial and the question arises as to whether it should be a gift or loan. If the amount is significant, you may feel also feel that out of…
Most people in our high tech society have online accounts such as ebay, Pay Pal, Facebook, Linked in, etc. not to mention their online banking accounts, brokerage accounts, and others with passwords. Some people have photographs and documents stored in their computer and have passwords to get into their computer.…