When a celebrity passes away with chaos in their estate, it can drive home the importance of writing a will and other estate documents. California director John Singleton was broadly celebrated for his unique vision and style. However, he repeatedly delayed writing a...
Estate Planning
Tips for estate planning in nontraditional families
California families in which there are stepchildren, adopted children, cohabiting unmarried adults, single parents and other nontraditional configurations may find that traditional estate planning advice does not cover their situation. Even trusts, which can be used...
Families generally don’t work together on estate planning
A survey from Key Private Bank polled 122 financial advisers to see how often future generations are involved with a person's charitable giving. Of those that responded, about 80% said that only some of their clients did so. However, it may be beneficial for parents...
Administrating a deceased loved one’s estate: some challenges
Besides the tax issues, there are various challenges that individuals will face if they are handling estate matters for a loved one in California who has died. First, a lot depends on who the executor is. If the loved one died intestate, the probate court will appoint...
How to account for art in an estate plan
Parents and grandparents in California may have no problem keeping track of how much cash they have or the value of their stock portfolio. However, it may be more difficult to keep track of how much an art collection is worth or to determine the fair value for other...
Questions to ask while creating an estate plan
An estate plan can help a person account for an illness or other event that could leave that individual incapacitated. It can also help a person in California or anywhere else account for what happens to assets after he or she passes. The first thing an individual...
Benefits associated with a dynasty trust
California estate owners who have a desire to pass along assets to subsequent generations may consider the benefits of creating trusts. It's an appealing option because of tax advantages and the ability to have more control over how assets are distributed. A dynasty...
Estate planning for the chronically ill
There are over 130 million people throughout the the United States who have a chronic illness. By the time 2020 arrives, there will be almost 157 million people in the country living with a chronic illness. People who have a chronic illness should make sure that their...
The pros and cons of a TOD designation
Individuals who live or own property in California may want to avoid going through probate. Certain assets can avoid the probate process by placing a transfer on death, or TOD, designation on them. Bank accounts, the deed to a house and other assets typically qualify...
Spouses need to access usernames and passwords
In California and across the United States, women need to know how to access data regarding their financial accounts. This knowledge is especially important if a husband passes away. A woman should have access to her husband's online passwords, usernames and answers...