Newman Law Group

February 2020 Archives

Well-planned estate administration can be a gift to loved ones

People make plans and set goals in order to achieve success in life. Plans and goals can also be established in order to effect a smooth transition that will simplify matters after death for the person's loved ones. Successful planning can reduce costs of estate administration in California, particularly if one does not have the appropriate estate plan documents in place.

Asset protection provides peace of mind

The new year is still young and many people are still working on resolutions to get more exercise, eat better and in general take better care of themselves in order to help ensure a long and healthy life. Yet no matter what people may do, unthinkable tragedies can still occur. A helicopter crash in California recently took the life of the basketball star Kobe Bryant, his 13-year-old daughter and the lives of seven others who were traveling with them. Kobe Bryant was only 41. In addition to working to protect one's health, one should also formulate an estate plan for asset protection that will in turn protect one's heirs.

Outdated wills, missing documents could cause estate issues

Figuring out how individuals want their worldly affairs handled after their deaths can be daunting. For this reason, many people in California and across the country create their wills and think they are finished with the difficult process of estate planning. However, nearly everything in life is constantly changing, and an outdated estate plan could cause problems.

Probate and how to manage it

Estate planning is a term that most people are familiar with but there are aspects that people may not be familiar with in California. One of these is probate and how it can impact an estate one wishes to leave for loved ones. Probate is the process that a will must go through, via the courts, to establish that it is legitimate.

Protecting assets in light of the new SECURE act

The advent of a new year often means new tax laws that will have an impact on estate planning strategies. January of 2020 was no exception with the enactment of the Setting Every Community Up for Retirement Act, known as the SECURE Act of 2019. The act has implications for the disbursement of funds from certain retirement accounts and may impact plans for protecting assets in California.