Last year we posted a blog about cats living it up in a retirement home in Spring Valley thanks to a pet trust. Wherever you are in San Diego County, do you consider your pets part of the family? You are not alone if you do. 87% of Americans consider…
As the population of people over 65 increases, so does the incidence of elder abuse and neglect. Elder abuse can be physical, emotional, or financial. The San Diego Police Dept. reports that San Diego has over 300,000 seniors. One out of every 20 elders will be a victim of elder…
When people give particular assets to someone upon their death, what happens when that asset is no longer in the estate at the time of death? “Ademption” is the term used in the area of wills and trusts to describe a situation where property left to a beneficiary is no…
Last week the Wall Street Journal reported that President Obama wants to freeze the current estate tax level to $3.5 million which is the estate tax exemption amount for 2009. Currently only estates with more than $3.5 million ($7 million for couples) have to pay estate tax. Obama intends to…
People with little assets other than their home many times need a living trust more than individuals with more assets. Why? Picture this scenario: With the high cost of housing in the San Diego area, many couples both work to pay the mortgage on their home. They don’t have a…
You would think that people who have practiced law would know the benefits of a well drafted estate plan. I guess it is like the old adage that “the cobbler’s son has no shoes.” Who knows how many lawyers in this country do not have a will or a trust.…
If you create a will or a trust, you can make any kind of gift you want to whomever you want. You can also make stipulations that a certain event must occur for the beneficiary to receive the inheritance. Some people, for example, provide for distributions to children or grandchildren…
Most people don’t like to think about their death but it is inevitable and directions to your loved ones about your wishes can ease the burden on them, and give you peace of mind knowing that your wishes have been stated and will be carried out. As part of your…
Many of us in the San Diego area start the New Year by resolving to lose weight, quit smoking, or spend more time with family. The top New Years’s Resolutions are: • Stop smoking or drinking • Increase physical fitness • Lose weight • Reduce stress at home or on…
Earlier this month we posted a blog about identity theft during the hollidays. Malls in North County, South Bay, Carlsbad, and Mission Valley are targets for pick pockets and thieves who look to steal purses. But did you know that even deceased persons can be victims of identity theft? The…