Many of the clients that have come to see us here at The Law Office of Matthew C. Yu in the past are worried due to their loved ones not having updated their wills following their divorces. If you share the same concern, it likely comes from the assumption that if your now-deceased spouse did not specifically disinherit their ex, then the ex-spouse still stands to inherit their assets. You do not need to worry about this particular issue. Once your spouse's divorce was finalized, any provisions in their will pertaining to their ex-spouse were invalidated.
One of the main reasons why the estate planning process is so important is ensuring that loved ones are cared for once a decedent is gone. Part of that care includes having a roof over one’s head. If, after the death of one on whom you relied for support, the issue of where in Los Angeles you will call home comes up, know you are not alone in such a struggle; many have come to us here at The Law Office of Matthew C Yu with the same concerns. Fortunately, state law has made it possible for you to retain your homestead even after your loved one’s death.
Living wills are an essential part of an estate plan. While they don't provide instructions on your assets, they do afford vital information to your medical team should you be incapacitated by illness or injury. Not only does this ensure your end-of-life medical care wishes are honored, it also prevents the burden from being thrust upon your family when the time comes. The Mayo Clinic explains a few of the decisions that can be addressed within a living will.
When you are an interested party to the estate of a family member or friend in Los Angeles, you know how important the role of the personal representative is in the administration process. It should come as little surprise, then, to see proceedings come to a dramatic halt if said office is vacated. A personal representative can be removed from their role for any number of reasons: they might become physically or emotionally unable to handle the duties that it entails, or they may be removed for breaching their fiduciary duty. Whatever the reason, many of those dealing with such a situation have come to us here at The Law Office of Matthew C. Yu with the same question: now what?
We have covered a lot of different topics that frequently arise for those who are in the middle of the probate process, from reasons behind disputes to other complications that are not uncommon. For some families, however, simply approaching the probate process, in general, can feel overwhelming, especially for those who are having difficulty recovering from the loss of someone they love. This can be a time of great uncertainty and stress, not to mention sadness. However, it is critical to take the right steps to ensure that things move forward smoothly.
Many people believe that having a last will and testament is the only document you need for California estate planning. While it is generally considered the centerpiece, other tools exist that can help distribute, manage and protect your assets.
Having a valid estate plan in place is a must. However, even if your wills and trusts currently meet your needs, how can you rest assured that they will continue to do so in the future? This question highlights the importance of reviewing your estate plan every few years or so to ensure it's still sound. According to Forbes, you should also look over your estate plan after these major life occurrences.
Disinheriting an heir from your will is a very serious decision. Not only can it cause a rift in your family, failing to take the proper steps can also result in your will being contested in court. In order to prevent a poor outcome, The Balance offers the following advice.
While creating a will is crucial, choosing the right personal representative is equally important. After you're gone, this person will be obligated to perform many essential tasks regarding your estate, including dispersing assets to your heirs according to your wishes. The Balance explains some of the many duties of a personal representative so you can make the best decision when selecting a candidate.
After the impact of one's death in Los Angeles has had a chance to sink in, their immediate family members will often share the same question: "Now what?" Specifically, when one leaves behind a family, they typically want to know what will become of the decedent's estate, including their home and other personal property. Who maintains ownership of those assets? Who becomes responsbile to settle any unresolved debts? The uncertainty that can come with such questions can often compound what is already a difficult situation.