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May 2014 Archives

Do you need a living trust?

The phrase “estate planning” conjures up images of old guys in smoking jackets and their trophy wives figuring out who will get to inherit their palatial mansion when they die. But, if you’ve been paying attention, you should already know that having an estate plan is essential for everyone in California. Regardless of your income, wealth or current holdings, everyone should have, at minimum, a will, a power of attorney and a medical power of attorney.

Widow of Mickey Rooney challenges his will in California

Many Californians make the mistake of thinking that their estate is too small to need a will. But officially naming beneficiaries, regardless of the size of the estate, is a critical step in ensuring your wishes are carried out after your death. If not, the situation can become contentious as the family tries to determine your wishes after you’re gone.

How does estate planning differ for women?

Many baby boomers have now reached retirement age and are starting to give serious thought to the legacy they will leave behind. They’ve worked hard their entire lives and many have sacrificed enormously to have something to leave behind for the next generation to carry on.

Inheritances: deciding who gets what can be a challenge

There was a time when deciding who would receive your worldly possessions was a relatively simple task. More often than not, the eldest son would be the heir to the family fortune and the story would end there. Those days have long passed, though and the topic of beneficiaries, especially over the last couple of generations, has become a great debate for Californians.

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