Newman Law Group

June 2020 Archives

New or young heirs need special estate planning consideration

Having children is a joyous experience for many California residents. Of course, the birth or adoption of a child is a major change to a person's life, which means that it may be necessary to accommodate that change in other ways. For example, individuals who have already created an estate plan may need to make adjustments for their new heirs.

Trust administration involves working with multiple people

A person's estate plan often relies on other people to ensure that the correct steps are taken to administer the remaining assets. Many California residents choose to use trusts as part of their plans, and they need to appoint trustees to handle the trust administration process. Choosing the right person can be difficult as trustees have a lot of responsibilities to handle.

Executors will need to marshal estate assets

The death of a loved one is a life-changing event for surviving family members. It can be a challenging experience for a number of reasons, and the executor of the estate will likely have many challenges to face in addition to handling his or her personal feelings. Settling a California estate takes a lot of work, and the executor will need to pay close attention to estate assets in particular.

Wills, other planning documents can provide useful instructions

Many events in life are better navigated when instructions are available. For particularly difficult times in life, those instructions can seem like a gift to lessen stress and help individuals through a trying period. Wills and other estate planning documents can provide useful instructions to California families who need that information and help after the passing of a loved one.

Estate planning tips to avoid probate

Estate planning is often thought of as something only wealthy families need. However, every family should have a strategy in place to make the transition of assets smoother and less stressful for loved ones. One big reason to have an estate plan is to minimize the risk of assets winding up in probate court. Probate is an expensive process that can take many months to complete. Here's how families in California can avoid having assets locked up in the probate process.