Newman Law Group

May 2020 Archives

Make a list of assets to include when estate planning

Making the decision to create an estate plan is one that most people will not regret. In fact, estate planning can better ensure that California residents are able to express their end-of-life and wishes to their family members in a legally-binding way. One of the easier places to start with this process is to consider the assets to include.

Wills are important to consider for anyone with an estate

If California residents own any assets, they have an estate. As a result, they can benefit from creating an estate plan that would allow them to express their wishes for various estate-related matters. Wills and other documents can work together to create a unique and tailored plan for anyone.

Health care directives are a useful safeguard

An unexpected illness or injury could easily leave anyone in a difficult situation. In some cases, health conditions can leave a person unable to express his or her wishes for care, and someone else must do so. The idea of leaving these decisions in the hands of another can certainly seem scary, but fortunately, California residents can create health care directives for this purpose.

If trust administration goes awry, trustees may be responsible

One of the important steps of estate planning is appointing trusted people to important roles. For instance, California residents want to ensure that they choose responsible parties to act as executors and trustees. These parties are in charge of handling probate and trust administration, and if something is not handled correctly, the person in charge could face trouble.

Consider reducing estate taxes when planning

When many California residents think of their end-of-life wishes, they consider who they want to receive certain assets. However, it is important to go beyond that line of thinking when estate planning. For example, it is often a smart move for parties to consider reducing estate taxes, which could leave more assets for loved ones.