Newman Law Group

April 2020 Archives

Power of attorney agent cannot collect Social Security payments

When creating an estate plan, California residents will need to appoint trusted people to various roles. One important role to consider is who to appoint as a financial power of attorney agent. However, this is not the only finance-related role that individuals need to fill when planning ahead.

Wills are an important part of thinking about the future

Though many California residents may prefer to live in the present and not think about what could happen in the future, it is smart to consider some future possibilities. Thinking ahead can allow parties to plan ahead for certain events, such as their demise. This may not seem like an appealing topic, but wills and other estate planning documents can be helpful to have.

Conflict could arise during trust administration

Many people in California and across the country are turning toward trusts when creating their estate plans. This step can have numerous benefits, but it is important to remember that some issues could arise during trust administration. In particular, the trustee may not act appropriately for the role.

Bypass trusts could assist in reducing estate taxes

Many California residents worry about the taxes their estate may face after their passing. Many individuals may have wealth that exceeds the exemption limit, and as a result, they want to look into reducing estate taxes. Fortunately, a bypass trust may be able to help them do that.