Newman Law Group

Tustin Estate Planning Law Blog

The instructive value of Prince's ongoing estate planning war

OK, perhaps we should concede at the outset of this post that stratospheric pop star Prince did not bequeath an estate planning war in the wake of his recent passing.

Indeed, though, acrimony and massive uncertainty have prevailed regarding Prince's financial empire following his death.

When will your estate planning be done-deal complete?

It's pretty much like that annual medical check-up or every-so-often teeth cleaning. Or like that periodic oil change and kick-the-tires car inspection at the local auto shop.

We're talking revisiting your estate plan after all that initial effort you expended on working with a proven estate administration attorney to craft a sound and tailored strategy that makes optimal sense for you and your family.

A pronounced elder law concern: con artists seeking to defraud

Where elderly loved ones are living in somewhat isolated fashion from other family members, it can be prudent to check on them with sufficient scrutiny and regularity to rest assured that they are not falling prey to the machinations of third parties seeking to defraud them.

Indeed, that is a sad admonition, yet it is also a necessary recommendation, according to advocates for the elderly who often see the results of fraud efforts targeting them.

Estate planning: simplifying things for your family

Considerable common sense prevails across an article recently written by a commentator on estate planning for families.

Here's a central bottom line directed toward a planner or planning couple that is communicated in that piece: Make it easy on your loved ones.

Adult kids, parents: getting on the same page re estate planning

Uh, sooner is better than later?

If money management firm Fidelity was soliciting a short response to indicate understanding of the bottom-line takeaway in its most recent report on family communications between adult kids and parents on key estate planning matters, the above response would be a slam-dunk winner.

Notable estate planning considerations in the 21st century

We note the current century in the above-cited blog headline for this reason: In the aggregate, Americans are certainly living longer presently, with that reality bringing immediate -- and material -- implications for estate planning.

Here's a key one, as referenced in a media article citing an AARP-authored study: "[T]wo out of three Americans are more worried about running out of money than dying."

Changing families often necessitate modified estate plans

It would be hard -- indeed, flatly impossible -- to continuously apply norms and expectations applicable to a family unit at one finite moment to that family as it evolves over time.

Families are organic. That is, they are all unique, constantly changing and routinely encountering new circumstances that necessitate revised strategies and planning models.

Young parents with kids: estate planning talk can be revealing

As we have noted in past select blog posts, families are figuratively all over the map when it comes to estate planning.

Some families proactively turn to the task at a relatively early juncture, making best efforts to craft well-tailored plans that can be periodically revisited for adjustment. Others, conversely, don't even think about such things.