When planning your trust, most people of course think about how they want their assets distributed, who will be their successor trustee, who will be the guardian of their minor children, and on what terms will their beneficiaries receive certain assets. What many people overlook is the family dynamics, ie.…
At Law Office of Scott C. Soady, A Professional Corporation, we often have people call us after reading our blog or website articles and ask such questions as “My father died but he didn’t have much, just a home. Do I have to file for probate?” or “My grandmother left…
Have you thought about what happens to your “digital assets” when you are gone? What happens to your email, your Facebook page, your blog, your website? What about online banking and investment accounts? What about all the photos you have stored on your computer and personal information that needs to…
Some clients ask whether they need to change their will or trust when they move into California from another state. Usually wills and trusts created in one state are valid in others as long as they were validly executed in the state where they were created. However there may be…
Probate is the process of transferring title to assets upon the death of an individual who dies with a will or without a will or trust. The person who has to begin the probate and follow through is the person named in your will as executor or someone the court…
Whether you need an estate plan depends in part of what stage of life you are in, your financial situation, and other factors unique to you. If you are young and just starting out with no home and few assets, a Durable Power of Attorney and an Advance Health Care…
With the advances in reproductive medical technology we are now seeing genetic material including sperm, eggs, stem cells, and even embryos being stored. Such genetic material is stored in a cryobank for later use, but what happens when the individual who stored the material dies? Is a child born posthumously…
When a loved one dies, often family members need to obtain a credit report to find out what debts are outstanding, what accounts are still open and need to be closed, and to verify there has been no identity theft. Decedents are often targeted as victims of identity theft. Scam…
In the estate planning world we used the term “fiduciary” a lot. Trustees, administrators, executors, and agents under a power of attorney are all “fiduciaries”. What does that term mean? A fiduciary is an individual who undertakes to act for and on behalf of another in a particular matter. A…
Adult children typically believe that their parents will leave all their assets to them equally however it is not unusal in our estate planning business to see clients who want to give unequal distributions to their children, leave gifts to friends or a favorite charity – even disinherit a child.…