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August 2014 Archives

What a California will entails

A survey conducted in 2012 found that 41 percent of baby boomers do not have a will. Additionally, the study found that 71 percent of people under the age of 34 do not have a will. A will can be an important document to have because it puts into writing an individual's desires regarding such things as who takes care of minor children or who gets a person's home or car.

Actor used trusts in his estate planning

Many individuals sometimes make the mistake of relying solely on wills or not doing estate planning at all. Wills are subject to probate and therefore the attendant public scrutiny of court documents. By setting up a revocable trust, actor and California resident Robin Williams prevented his family from having to deal with probate, which can be a long and unpleasant process. The terms of trusts can be kept private as well as any challenges or disagreements.

Examining the use of living trusts in estate planning

California residents who are looking into estate planning may be interested in one type of trust that can help to avoid probate while giving the person control of their money during their lifetime. This trust, however, is not without its drawbacks.

Relocation may necessitate revisiting estate plans

As many California residents know, moving -- whether for a job, school or retirement -- has become a way of life for many Americans. While moving may herald an opportunity or the realization of a lifelong dream, it may affect one's estate plans in unexpected ways.