Newman Law Group

Wills Archives

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."

Leaving a will: why that is so often critically important

Certainly, there are some people in Southern California and elsewhere across the country who believe in good faith that it's not really that big of a deal whether they execute a will or not. They might especially think that way if they view their financial situation as being not overly complex and amenable to some quick and simple tidying up upon their passing.

Timely and tailored estate planning: not just for baby boomers

It is often posited -- and, candidly, by people who don't know much about estate planning -- that young people don't have much of a need to attend to estate administration matters. After all (the argument goes), there is certainly time for that down the road, after a family has been established, significant wealth has been accumulated and retirement is firmly in sight.

With so many different types of trusts, is a will even necessary?

Although readers may be familiar with the advice of using a revocable trust to avoid the months of delay caused by a probate proceeding, they may not have realized the amount of legal fees also at stake. In California, probate legal fees are set by statute, starting at four percent for the first $100,000. Estates less than $150,000 may be able to avoid probate with a small estate declaration made pursuant to the state’s probate code. Otherwise, the prospect of probate will be costly and time-consuming.