Many wage earners spend decades building carefully-monitored retirement incomes while giving remarkably little consideration to beneficiary details. California estate planning attorneys see frustration and anger among heirs when proceeds from a decedent’s beneficiary-related fund end up in the wrong hands. Time and time again, estate planning experts caution clients to update wills, trusts and investment accounts. The […]

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Many probate laws ensure that surviving spouses and minor children receive an appropriate inheritance from a decedent spouse or parent’s estate, sometimes against the wishes of the deceased. Disinheriting a spouse or child may not be possible when a will is contested because state law protects these rightful heirs. A California attorney estimates that 30 percent of […]

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The advice of a friend or family member can be valuable, but there are times when what’s right for someone else doesn’t work for you. It’s common practice in southern California to ask someone you trust for advice or a referral. The suggestion is often based on the experience of a relative or friend who […]

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The Taxpayer Relief Act of 2012 was the subject of a recent meeting of estate planners from Los Angeles and across the country. Estate planning specialists spent much of last year bolstering trusts for clients in anticipation of less-generous gift and estate tax changes in 2013. The changes were not as dramatic as expected. Some of the […]

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Everyday people are not the only ones who fail to plan future strategies for their assets. Famous people with great wealth including musicians and reclusive billionaires have been guilty of inadequate estate planning. A past skiing accident caused the death of a man known for his political clout in California almost as much as he […]

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Life improvements are almost always the subject of New Year’s resolutions. The declarations to get fit, change relationships and improve career or financial prospects that are sincere on Dec. 31 often become diluted or forgotten by spring. Estate planning experts in California encourage consumers to consider commitments that last beyond a lifetime. Living wills, medical directives […]

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A California attorney who specializes in helping clients formulate effective estate plans understands the usefulness of wills and trusts, but the average individual may be less familiar. Conversely, an estate planning attorney cannot decide an individual’s desires concerning end-of-life medical care, beneficiaries’ worthiness or assets to pass on after death. Those personal choices are up […]

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Individual Retirement Accounts are investments designed to provide income during the later years of life. What happens to IRAs or the unused portions in them after death? Ideally, a Los Angeles estate planning expert will ensure that the IRA or remaining sum benefits heirs. Ignoring or misunderstanding IRA distribution rules can cause unnecessary taxation during life and […]

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Term and permanent life insurance policies are used to help the very wealthy and the not-so-rich cover estate taxes or balance financial relationships among heirs. Estate planning experts suggest a thorough review of the purpose of the insurance before choosing between term or permanent policies. Affluent Californians who die before the end of 2012 have fewer tax […]

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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 those when we die? A thorough estate plan cannot be complete until a […]

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