Often overlooked by parents are important legal needs of their children who are turning 18 and of those who are young adults. Yet each of the following parental concerns can be easily handled for California residents: Who will make medical decisions for your adult child if your child became unable to give informed consent to … Continue reading Estate Planning Advice for Parents of Young Adult Children
Even though California is a community property state, it does not mean that an inheritance received here is community property. For a married Californian, property received by gift or inheritance is separate property, not community property. For many parents, that fact alone is enough protection for a child’s inheritance. Perhaps most parents have confidence that their children … Continue reading Protecting Your Beneficiary’s Inheritance from the Spouse
Being trustee can be a thankless job, one with lots of stress and the risk of personal liability. California law places the following legal duties upon the trustee of an incompetent or deceased person’s trust: The trustee has a duty to administer the trust solely in the interest of the beneficiaries. If a trust has … Continue reading Trustees’ Duties and Potential Liabilities
All California competent adults should consider signing a California Advance Health Care Directive. In this document, you empower someone to make medical decisions for you if you become unable to give informed consent to your medical decisions. You name your first choice and your alternate choices. In the aftermath of the Terri Schiavo case, most … Continue reading Advance Health Care Directive: State Your Wishes for Your Care
It’s wise to review your insurance annually, especially the adequacy and coverage of the policies. Confer with your insurance agent about your homeowner, landlord, vehicle, boat, business, umbrella, and liability policies to make sure that your assets are protected in the event of damage or injury and that you are protected from the risks associated with both your assets … Continue reading Avoid Losses and Protect Yourself from Lawsuits: Review All Your Insurance Coverage Annually