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Posts tagged "Wills"

Choosing a will or a trust in estate planning

California residents might be interested in a recent article about whether a will or a revocable trust is the better choice in estate planning. The article says that before deciding what process to use, an individual should consider the people and entities that will receive those assets.

Bypass trusts in estate planning

California couples who are planning their will may be wondering if a bypass trust might benefit their situation. Bypass trust works as a tool to limit the amount that a married couple's estate is taxed after the death of one party. Furthermore, property in the form of a bypass trust may not subject to estate taxes.

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.

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.

The effect of moving across state lines on estate planning

Orange County residents who intend to move out of California, or those who contemplate a relocation to the Golden State, may find that their new address adds complexity to their estate planning. It is often best to revise a will, trust or other estate planning document when moving across state lines. This helps to avoid potential problems and may possibly be advantageous to the estate or trust.

Families fight in courts over wills

In years past, wills were rarely contested by family members, as this was seen as a way of dishonoring the decedent. However, more siblings and other relatives are suing in California courts over wills that they believe do not provide them with their fair share of the inheritance.

Appointing guardians for minor children

California parents should think about making provisions for the care of their minor children. Even for parents who are young and healthy, legal documentation about guardianship is important. While it may be a difficult subject to think about, it can ultimately lead to peace of mind.

Leaving instructions for when you're gone

However unlikely it might seem, a large rock could fall on a clear Fullerton night and kill you. Rather than trying to figure out the odds of such a thing happening, it might be better to contemplate this question: Have you made an estate plan to pass on your belongings to those you love and care about most?

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