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Five Key Differences Between a Will vs a Trust
One of the first questions clients often ask me is, what is the difference between a will and a trust, and why should I want one or the other? There are five key things a will can’t do – avoid the expense of probate, immediately transfer your assets to your heirs,...
4 Warning Signs Your Elderly Relative May Be the Victim of Financial Abuse
Some of the most disturbing crimes against the elderly involve financial exploitation. While physical abuse is often easy to spot, financial abuse can be more difficult to detect, as victims often have no idea they’re being swindled until their money suddenly...
Tips On Implementing Your Estate Plan
Assuming you’ve created a plan that contains your unique goals and wishes for your family, the next step is to ensure that your plan is carried out. The first tip is to not hide your estate plan. It’s easy to hang on to “important” paperwork for years, burying the...
Three Reasons Not To Put Your Child on Your Bank Account
If you’re like most people, adding your child to your bank account seems like the easiest thing to do, rather than relying on legal documents like a power of attorney. There are at least three reasons why this estate planning “shortcut” is a bad idea. Your child may...
To Protect Your Children’s Inheritance, You Don’t Have to Control It
An estate plan gives you lots of opportunities to define when and how your beneficiaries can use their inheritance. Inheritance is a nice word for everything you’ve worked hard for all these years. Maybe you want to specify that your children can only...
Legal Protection for Your College Freshman
Besides Top Ramen, there are two essential legal documents your high school graduate needs to have in place. Two Key Legal Documents It may be hard to believe your child heading off to college really is an adult, but they’ve officially crossed that threshold into...
A Tale of Caution Involving a Holographic Will
My dad always said that wisdom is learning from other people’s mistakes – it’s cheaper that way. Here is a classic example to learn from: the estate of Estelle Elsa Manwell, from El Dorado County. Ms. Manwell was well to do – according to court documents she owned real estate in Contra Costa and El Dorado County worth $1,238,848.
Control Your Assets in a Trust
One of the questions I get all the time is, should I put _________ (name an asset) into my trust? The answer, of course, is that it depends on the asset, but generally speaking, everything you own should be transferred to the trust. Which leads to the follow-up...
5 Types of Living Trusts You Need to Know About
Not all living trusts are the same. And I’m not talking about quality either, though that is a major factor too. I’m talking about the difference between minivans, pickups, and sports cars. There are five major types of trusts that we use every day in our practice...