Estate planning is not just about disposing of what you have now, but also dealing with any unresolved legal claims that may exist at the time of your death. For example, if you have filed a civil lawsuit against someone, that case does not automatically end just because you die.…
It is an unfortunate reality that many people take advantage of the elderly and the mentally infirm. California has laws to prevent such elder financial abuse. Among other things, the law prohibits “excessive persuasion that causes another person to act or refrain from acting by overcoming that person’s free will…
When you create a revocable living trust, your trustee has a legal duty to ensure your wishes, as expressed in the language of the trust document, are carried out. There may be pressure from family members or other interested parties to alter the trust’s meaning for their benefit, but at…
A guardianship is a type of probate proceeding where a person is appointed to oversee the property and finances of a minor. There are many circumstances that might necessitate such a guardianship. For example, if a minor inherits or receives a large amount of money, a court may appoint a…
Many of us want to leave our home or other real property to our loved ones. But keeping property “in the family” can prove costly. For example, if a the land you own is contaminated by any type of environmental hazard, your heirs may end up footing the cleanup bill.…
As a general rule, you have the right to dispose of your property in a last will and testament as you see fit. For example, you could choose to disinherit one or all of your adult children. You can also make gifts to individuals and institutions subject to certain conditions,…
There are many reasons why it is a bad idea to write your own will. For one thing, you may not be familiar with the proper usage of certain legal terms, which can lead you to write something that may be interpreted in a completely different manner by a probate…
Estate planning can get complicated when you own your own business, especially if you have one or more partners. You need to take care that your personal estate planning—your will or trust—does not conflict with any documents governing your business relationships. Such conflicts can create significant legal and tax issues…
American homeowners are collectively carrying nearly $10 trillion in mortgage debt according to the most recent statistics published by the Federal Reserve. This has important estate planning implications. Unlike unsecured debts, a mortgage is tied to a house, not an individual. This means that after you die, your estate and…
Although a last will and testament remains valid indefinitely, you should still review your estate planning every few years to account for changes in your life. Leaving a will unchanged for many years may lead to a situation where someone close to you is unintentionally omitted from receiving a share…