Legal and money experts talk about covering all the bases for financial consequences before and after death. Estate planning can involve a few or many methods to preserve assets and control things we choose to leave to heirs. What about virtual belongings? Who gets...
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Year: 2012
Do you make assumptions about estate planning?
You may think you're too poor or too young to consider having an estate plan, but you're not. These are a few of the assumptions many people in Los Angeles make when they think about wills and trusts, health directives and estate planning strategies. Regardless if you...
Why revocable living trusts are great supplements to wills
The belief that trusts are only for wealthy individuals is fading as Californians discover the estate planning benefits of trusts. Sometimes wills are enough for the distribution of assets to heirs. Often trusts are beneficial supplements because they serve multiple...
Galen Hopper inherits nearly $3M from actor dad’s estate
Actor and filmmaker Dennis Hopper was 74-years-old at the time of his death in 2010. Two months before he died of cancer, Hopper celebrated his recognition of celebrity on the Hollywood Walk of Fame with his 7-year-old daughter, Galen -- Hopper's fourth child and the...
Deciding who can best manage your trust
Trusts can be essential to an estate plan. Individuals can spend a great deal of time deciding which assets are placed in a trust. Estate planning advisors say equal consideration should be given to choosing the fiduciary or trustees who will manage the trust. The...
Financial, legal savvy is imperative for California trustees
Legal professionals stress choosing estate executors and trustees carefully. One of the reasons is the enormous financial responsibility that trustees carry for beneficiaries of an estate. The person assigned to a trustee position must have the competence and...
Working around uncertain tax changes to set up an estate plan
Legal experts say some people are so paralyzed by unknown changes in gift and estate tax laws that they are placing estate planning on hold. Many California experts believe not drafting estate planning documents, because estate tax exemptions and rates are uncertain,...
Hidden costs of do-it-yourself estate planning
Economic times have been hard in California. So, it would stand to reason, if there is a way to save a buck (or two) by doing something yourself, it would be a good idea. Right? The advent of online resources and do it yourself legal forms for many counties has made...
Estate plans: Update what you create
If you don't have an estate plan, you aren't alone. Many Californians die before drafting wills, creating confusion among heirs and leaving asset distribution to probate judges. Even individuals who have estate plans can wreak havoc among beneficiaries, if the plans...
Federal ‘death tax’ reprieve extended through 2013
One of the most challenging factors in estate planning can be preserving your assets for heirs and beneficiaries. When wills and trusts are not set up properly, monitored and changed appropriately, assets that were meant for loved ones can turn into unintentional...