Law Office of Barbara J. Dibble

Estate Planning

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June 2014 Archives

Deciding how assets will be managed and transferred

Residents of California nearing the age of retirement may be wondering how they should arrange for their property and assets to be passed on in the event that something happens to them. A revocable trust may be a good way for individuals to provide for the distribution of their assets in the event that they become incapacitated, and the trust may even make it easier for those people to draft their wills.

Trusts as estate planning tools

Many California residents consider trusts to be an essential part of their estate plans. Trusts allow people to set the terms of how money should be spent by the beneficiaries, as well as appoint someone to oversee the assets, which can be an attractive option when children are the beneficiaries. In many cases, trusts are the only way to achieve what people envision for inheritances they leave behind.

Single individuals face challenges in estate planning

Many single and childless individuals in California will face the complex and open-ended question of how to settle their estate after they die. There are approximately 17 million Americans over the age of 65 who are unmarried. In addition, financial advisers and charitable organizations are reporting that an increasing number of young people are starting to think about estate planning before they get married or have children.

Including digital assets in an estate plan

An estate plan is typically focused on the distribution of physical assets after one's death, but online activities and assets are increasingly important to consider in end-of-life planning. According to research, more than 50 percent of adults in California and around the country conduct their banking activities online. Nearly one-third use their mobile devices for banking. Online activities may also result in both financially and sentimentally valuable assets.