Tailoring A Solution To Meet Your Needs
When it comes to planning, people tend to put things off. But many people in California and elsewhere may not realize that even setting up the most basic estate planning documents such as a will can provide the foundation for financial security for their loved ones. Couples who are examining their options sometimes consider creating a joint will rather two…
For Californians who have an adult loved one who needs a certain level of care due to developmental disabilities, a conservatorship may be a viable option. However, people are frequently unsure of what type of conservatorship would be the best choice for their situation. For people caring for an adult who has a mental or physical impairment that began before…
Good estate planning can have a lot of moving parts and there are some aspects which will have more use to you than others. Your needs will also change throughout your life, as you age and different events require different approaches to your estate plan. Powers of attorney can be invaluable under the right circumstances, so it’s important to understand…
A special needs trust can be a great way to provide your loved one with financial resources while protecting his or her ability to obtain government benefits like Medicaid. Yet, there are a lot of misconceptions out there about special needs trusts. For example, many people think that the restrictions placed on the use of assets placed in a special…
Life expectancy in the U.S. is on the rise. This raises the troubling question many retirees are facing: what happens if I outlive my assets? The following are some tips on how to avoid this scenario from occurring. The “4%” rule Traditionally it was recommended that if you only withdrew up to 4% of your assets the first year you…
A California resident who a court deems unable to care for themselves or handle their basic needs may be appointed a conservator. Most California residents are probably familiar with guardianships, which involve an adult who is given legal responsibility over a minor child or children. A conservatorship works the same way, only conservatorships are designed for adults, rather than minor…
Although Californians can take legal estate planning steps as soon as they reach adulthood, many young people put off even writing a will. There may be many reason for the delay. Young people are typically in good health, and they may think that an estate plan would accomplish little since they do not have a lot of property that would…
People in California approach estate planning from many different angles. For some, the most important part is to designate a guardian for minor children. For others, the distribution of their estate is the most crucial part of the process. And for others, minimizing tax exposure and simplifying the process for family members is the key. What are your goals in…
As part of an estate plan, it is important for parents to carefully select a guardian for their minor child to include in their estate plan. To make a selection that will provide the estate planner with invaluable peace of mind, it is also important for the estate planner to know how to choose a guardian and what to base…
Many San Jose area residents have already taken the time to create an advanced health care directive. An advanced health care directive is an important document where a person writes their wishes about what they want to happen to them when they become incapacitated. One part of the advanced health care directive is the health care proxy. Choosing the right…