Probate, Estate Planning and Trust Law
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May 2015 Archives

Power of attorney and financial elder abuse

As Woodland Hills residents begin the process of estate planning, one of the first issues that's often brought up is who will act in their stead should they become incapacitated. This may often prompt some to assign a family member or friend with power of attorney. Yet handing over the right to make vital decisions on one's behalf is not a decision that should be taken lightly. Whomever one chooses to have power of attorney is given great authority over his or her affairs. This could lead some to question exactly how far this authority goes.

Avoiding estate depletion

Many of the Los Angeles County residents who come to see us here at the law offices of Alice A. Salvo have worked hard their entire lives to be able to offer some bit of an estate to their children. What many don’t understand is that even if one has a prepared a will and named beneficiaries, it is possible that the expenses of both life and death can end up depleting the assets to one’s estate before they’re ever able to be distributed. In this post, we’ll examine exactly how estate depletion occurs, and what, if anything, can be done to avoid it.

Is your living trust insured by the FDIC?

If you're like most in Woodland Hills, then you've probably been told at least once in your adult life that you need to start thinking about estate planning. In the world of estate planning, the buzzword that everyone is told to avoid is probate. In order to avoid probate, advisors will often recommend putting your assets into a living trust. Yet this raises the question of whether or not you're insured against the potential failure of the bank holding your trust.

A look at wealthy Americans' views on inheritance

California residents who are concerned about issues with estate beneficiaries may wish to know the results of an estate planning survey of wealthy Americans. Their views on whom to leave their assets to and how much to give may be instructive.