Mobility and modern family life might create unique real property ownership situations. Perhaps a couple owns out-of-state property. Perhaps a family has separated but not divorced, with spouses living in different states. Perhaps parents purchased a property for their child in a different state.
Is poor communication still an issue in estate planning? According to a recent article, the answer may, unfortunately, be yes.
It's hardly a surprise that planning considerations adjust somewhat for most people as they age. Persons who suddenly find themselves dwelling upon matters such as incapacitation and long-term care needs are anything but an anomaly. We all age, and purposeful -- that is, timely and customized -- planning to deal with such contingencies can yield material piece of mind.
Are beneficiary designations and probate property incompatible? With the help of an estate-planning attorney, they don’t have to be.
Although no one may like to have their private financial affairs made public, the celebrity example of the late actor James Gandolfini illustrates certain negative consequences in the extreme.
As homeowners plan for their future, it is important to make detailed estimates of cash flow and retirement needs. A picture of cash flow and expenses, in turn, can help clarify estate-planning goals.
Probate is a process by which a decedent’s assets can be transferred to his or her beneficiaries, and any debts of the estate can be paid. For many individuals, however, the goal of estate planning is to avoid probate.
Is estate planning affected by whether a jurisdiction is an equitable distribution or a community property state? The answer is yes, and since California is a community property estate, individuals should heed several considerations.
Children with special needs require additional planning and care. Special needs children often require expensive care for the rest of their lives. Many parents may think that it will be beneficial to simply leave inheritance in their will to their child. Unfortunately, this can create more problems for individuals with special needs.
Readers of this blog have been advised to keep their estate plans current. Life events may result in changed circumstances that make existing provisions in a will or trust obsolete.