Newman Law Group

Wills Archives

Asset protection looms as a major goal of estate planning

In California and throughout the country, estate planning is a process of preparing for future eventualities in a way that protects one's family and dearest friends from inconvenience and even loss of one's assets. The use of various trusts, a will, power of attorney and health care directives form the core of asset protection. By being able to designate the preferred family and friends for asset inheritance and those best qualified to manage the necessary procedures on one's behalf, the individual is able also to assure that his/her wishes will be followed.

Wills may be constructed to fit many familial situations

The prospect of a married couple dying simultaneously or near to each other, such as in an accident, is slim but it does happen. An estate planning attorney in California or elsewhere will consider that prospect when making mutual wills for a couple. The provision becomes important especially where there are young children to be considered.

Who receives an inheritance without a will?

It seems as if every family has at least one of those relatives with whom no one wants to associate. For the most part, the majority of California residents are free to maintain relationships with only those friends and relatives they like. However, in some cases, it is possible that these same relatives with whom the individual does not wish to associate could be the very ones who will receive an inheritance upon the individual's death due to that individual's lack of estate planning.

Asset protection the goal in estate planning

Protecting loved ones is often one of the primary goals expressed by California residents. There are many ways in which this goal is accomplished; loved ones can be protected both physically and financially. One way in which they are protected financially is through estate planning and ensuring that asset protection concerns have been addressed.

Blended families and inheritance

The typical California family is anything but typical. Some families consist of mom, dad and the kids; other families include step-parents and step-children. Estate planning is essential regardless of the family make-up; however, with blended families, estate planning can be crucial in making sure that each individual receives the intended inheritance.

Wills are one of the best ways to plan and protect family

No one knows what the future holds. Everyone makes plans for the future; however, for some, there is no future. Unfortunately, California residents die every day, and planning for this inevitability benefits all involved. Perhaps the best way to plan and protect family and assets is through the creation of wills

Preparing wills important for newly married couples

Many people believe that estate planning is something that someone at or approaching retirement age should be doing. This way of thinking, though, could be a serious problem for many California couples. In fact, estate planning and the creation of wills are something that should begin almost as soon as the wedding vows are shared.

Evolving families and related estate planning considerations

In addressing various configurations, a tag team of columnists focusing upon America's huge baby boomer demographic note that a boomer parent "may be in a first and only marriage, never married and single, never married and with a current partner, divorced and single, or divorced and remarried."