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July 2018 Archives

Do I really need a will?

Many people in California wonder whether they actually need a will. The truth is that most people should have some kind of estate plan in place when they die, even if they have only a few assets. TheBalance.com offers the following information on what happens when you die without a will or trust in place.

Tips on Choosing the Right Executor for Your Will

While will creation is an essential aspect of estate planning in California, choosing the right executor is equally important. Your executor will resume responsibility for financial issues after you die, including satisfying outstanding debt and ensuring your assets are distributed appropriately. Because the decision is so important, Kiplinger offers the following tips on finding the best person for the job.

How to protect yourself against financial fraud

As a senior citizen in California, you’re probably invested in preserving your estate to ensure you can leave assets to your family upon your passing. Unfortunately, many people target seniors with fraudulent financial offers, which can result in the loss of money and property. In order to properly safeguard yourself against fraud, the National Council on Aging offers the following advice.

California law recognizes two types of conservatorships

Not all adults are capable of caring for themselves and making the decisions that affect their health and finances, among other aspects of their lives. Whether due to age, an illness or an injury, it may become necessary to establish a conservatorship in order to care for such a loved one.

The first steps of the probate process

After the passing of a loved one, you and other surviving family members may have many steps you need to take to settle the estate. If you believe the estate needs to go through probate, you may be in for a rocky road as the probate process can take a considerable amount of time to complete, and they are often the subject of disputes.

Are you prepared to act as an estate executor?

Having a friend or family member pass away is often extremely emotional. Not only are you forced to deal with feelings of loss and grief, but there is also matters involving the deceased’s estate. If you have been named the estate executor in an estate plan, you may be faced with a host of issues. It is crucial that you fully understand your role as an estate executor so that you may fulfill your responsibilities or legally withdrawal from the role.

Are you prepared to act as an estate executor?

Having a friend or family member pass away is often extremely emotional. Not only are you forced to deal with feelings of loss and grief, but there is also matters involving the deceased’s estate. If you have been named the estate executor in an estate plan, you may be faced with a host of issues. It is crucial that you fully understand your role as an estate executor so that you may fulfill your responsibilities or legally withdrawal from the role.

Do executors have to pay out of pocket to handle disputes?

The executor of an estate has many responsibilities, and if you hold this role, you may wonder whether you have the right abilities for handling every step and possible issues that may come about. You do not have to feel alone in this worry, as many people feel intimidated by any type of legal proceeding, and probate is one that can take a considerable amount of time and effort.

How to avoid common estate planning mistakes

If your estate plan is contested it could end up in probate court. Depending on the complexity of your will and other documents, this process can be lengthy (and rack up legal expenses as a result). However, there are steps you can take to prevent your will from being contested, such as by making sure there are no mistakes in your estate plan. Kiplinger offers guidance on how to do just that, which benefits your estate as well as your family.

3 Things to Consider When Drafting a Will

For people currently creating their estate plans in California, taking a comprehensive view is key to ensuring your property and assets remain protected. Unfortunately, there are a few considerations that often slip through the cracks when drafting a will, which can result in your decisions being contested. Forbes provides insight into some of these overlooked factors so you can rest assured of a valid and legally binding plan that accurately reflects your final wishes.

How can I prevent my will from being contested?

A contested will can throw a family into turmoil. That’s why it’s crucial to ensure your will remains legally binding during the estate planning process, whether you have numerous assets or just a few treasured belongings. TheBalance.com explains how you can arrange your will so there is little chance of it being contested.

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