Many people who are creating their estate plans believe that they’ve given their children every advantage in life to become successful, financially independent adults. Instead of leaving them a substantial amount of money or other assets when they die, they prefer to leave the bulk of their wealth to various worthwhile charities. They may even […]

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If your family doesn’t involve a spouse of the opposite sex and a couple of kids that you had together, you’re not alone. Family dynamics have evolved considerably in recent decades. The term “modern family” has largely replaced “traditional family.” A family can easily be comprised of an unmarried couple (of the opposite sex or […]

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Some important aspects of estate planning are done outside of “traditional” estate planning documents like wills and trusts. One of these involves something called the Uniform Transfers to Minors Act (UTMA). Each state has its own UTMA. In California, it’s called the California Uniform Transfers to Minors Act (CUTMA). You can establish a CUTMA account at […]

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Many people think that they have no need for a trust in their estate plan unless they have millions of dollars in assets to pass on to their heirs and other beneficiaries. In fact, you can set up a revocable living trust even if your assets total far less than that. There are many good […]

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People often think that California’s community property laws are only relevant when couples divorce. However, they also apply to how property is disbursed and how debts are handled after someone’s death. Under our community property laws, everything that spouses earn or receive (with the exception of gifts and inheritances received by one partner) during the […]

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For estate planning purposes, it is important to keep track of the loans and financial gifts that you give to your children while you’re still alive. Do they count as an advance on that child’s inheritance or not? Maybe you have three children, for example. Two of them do very well financially and need nothing […]

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Single adults who don’t have children might assume that they don’t need a will. Without a will, you won’t have any say in where your assets go. You also won’t be able to name someone to handle your affairs if you are unable to do this due to incapacitation. Even your choices regarding medical care […]

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As we progress through adulthood, our lives tend to get bigger — more kids, then grandkids, a larger house and more possessions. Then we reach a point where we no longer need that big house and all that stuff. The kids are grown, maybe our spouse is gone (through divorce or death). That’s when downsizing […]

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As you age, you’re more likely to think about your future health and well-being. For example, you may have questions about what will happen to your assets in the event of incapacity and who will make important decisions on your behalf. You’re not required to add a living will to your estate plan, but it […]

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Here in Los Angeles, most of us know somewhere in the back of our minds that our homes could be wiped out in practically the blink of an eye by an earthquake or wildfire. That’s happened to many of our friends, family, colleagues and neighbors over the course of the past decades — most recently […]

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