When you wed your spouse in Woodland Hills, you likely did so with every intention of providing him or her with the very best you could, both during your lives together and once you passed on. Yet, as we all know, different factors can often cause the feelings a couple shares to sour and eventually seek a divorce. All too often, clients come to us here at The Law Offices of Alice A. Salvo in a panic after learning that the loved ones whose estates they are parties to failed to amend their wills following their divorces. If you forget to take this all-important step, does that mean that your ex-spouse still maintains whatever rights and powers you endowed upon him or her in your will?
Estate planning can be complicated in any situation, but familes that have been blended through marriage and divorce can create additional obstacles to overcome. If you are attempting to build an estate plan in California with a blended family, you may have run across some confusing issues. We at the Law Offices of Alice A. Salvo are experienced in handling this or any other type of planning and can assist you as you create the perfect plan for your family.
The ultimate goal of your estate planning efforts is likely to be so that those that you leave behind in Woodland Hills have no reason to question what your final wishes may be. It should be remembered, however, that no amount of planning on your part may be able to account for the emotions one or more of your beneficiaries may feel regarding their final interests in your estate. You may try to be proactive in stopping any potential disputes by including a no contest clause in your will. The question then becomes to what extent is such a clause enforceable?
As you watch your family members and friends in Woodland Hills begin to deal with the effects of advancing age, you may quickly understand why many often sour on the idea of continued care. Oftentimes, such care can involve treatments that are painful or leave a patient feeling ill or drained of energy. Oftentimes, people may come to us here at The Law Offices of Alice A. Salvo wanting to set up advanced directives meant to limit care that could prolong their lives. Most automatically assume that any healthcare provider must comply with these wishes. Yet is that always the case?
Much is made by people in Woodland Hills about the authority granted to those given power of attorney. What is often overlooked, however, are the duties that come with such a role. You may have been led to believe that whomever you entrusted to handle your affairs through power of attorney has carte blanche to do whatever he or she wants. That is not the case.
Woodland Hills residents are advised to see to their estate planning early on their lives so that their true intentions regarding the disposition of their assets are known should they die unexpectedly. They may also be counseled to keep the process as transparent as possible so that all who are parties to their estates understand their wishes, which hopefully will minimize the chances of disputes arising. Yet no amount of planning may overcome any bitter feelings that may exist amongst potential beneficiaries. Estate disputes may often be emotionally charged, with all parties involved being convinced that their claims are valid.
Being asked to serve as the personal representative for the estate of a loved one in Woodland Hills is a tremendous responsibility, which can even carry financial penalties if you are unable to fulfill the duties entrusted to you. In order to meet the obligations that come with the role, you have to prove to interested parties to the estate that you have the legal authority to manage its assets. Otherwise, they may refuse to disclose important information to you. Yet how can you prove that you have been granted this authority?
Like many residents of Woodland Hills, you work hard throughout your life with the intention that your family will enjoy the fruits of your labors even after you are gone. When many come to see us here at The Law Offices of Alice A. Salvo for assistance with estate planning, their thoughts are often centered on the well-being of their children. Yet what about their grandchildren? Or their grandchildren? If you accumulate extensive wealth throughout your life, you may reasonably expect to able to provide financial security for many future generations of your family. That may only be possible, however, if you do it right.
An estate plan is essential for every individual, regardless of his or her income or financial standing. If you have not taken this important step, you are risking the appropriate administration of your estate, and your loved ones may not receive their intended share of money and assets.
One of the main reasons why residents of Woodland Hills are encouraged to see to their estate planning before it is too late is because if they want to keep their families’ secrets private, proper planning allows them to do so. Avoiding probate may also mean avoiding having the information related to an estate becoming public record. Even further, provisions such as non-disclosure agreements may secure a family’s privacy by compelling parties to an estate to not divulge information about it. If those parties violate those agreements, the estate may then choose to pursue legal action.