Newman Law Group

January 2018 Archives

Wills could require an update in 2018

The new year brings new tax laws, and new policies may give reason to adjust estate planning documents. The major change is the raising of the threshold for the estate tax, and those individuals who will be affected by the change will likely want to review estate documents. For most people in California, wills and trusts benefit from frequent review, with updates whenever there is a major life change. 

Many reasons for a plan to protect estate assets

This time of year, many people resolve to get financial affairs in order so they are better prepared for the future. The reasons for a plan to protect the estate assets are many. Recently, a news article covered some of the most common reasons for estate planning, and also gave some insight into the types of estate planning tools, which may be of interest to California residents. 

A trust can transfer assets to specified trustees

When it is time to plan for the passing of funds and property to others, many people wonder about their options for doing so. Some choose a will, but another option to transfer assets is the trust. Trusts are documents that can help a person determine how and to whom certain assets are disbursed, and they also have specific benefits for those California residents who choose to create one. 

Trust preparation: Don't make these mistakes

Those people who are looking toward the end of their lives are already one step ahead of the game. By laying down plans for an estate, a person is able to ensure that specific wishes for the distribution of assets are honored after death. Unfortunately, a person who makes certain estate planning mistakes may not get the desired outcome. Careful trust preparation can help one achieve one's goals. Luckily, informed California residents can be better prepared to make certain estate planning choices. 

Medical power of attorney can offer help in time of need

Many individuals believe that estate planning is only for rich people. This is typically not the case, as certain aspects of an estate plan can ensure that individuals live the lives they envision for themselves until death. A medical power of attorney can be a helpful tool in any person's estate plan, and a person in California may wish to review the roles and responsibilities of such a person as part of creating an estate plan.