Every parent knows how important it is to select a guardian for minor children. Many parents find this decision to be terribly stressful. Here are some tips to help with deciding whom to nominate as the guardian of your child if neither parent is living (or if both parents became incompetent). In California, there are … Continue reading Who should serve as guardian of the person for your minor children?
In planning how to have your financial affairs managed by others if you become unable to manage your financial affairs, it’s not enough simply to have a revocable living trust because there are many financial transactions that legally cannot be handled by the trustee of your living trust. For example, if you become incompetent, your … Continue reading Your durable general power of attorney is an essential part of your estate plan
It’s wise to review your insurance policies annually, especially the adequacy and coverage of the policies. Confer with your insurance agent about your homeowner (or renter’s), landlord, auto, boat, business, umbrella, and liability policies to make sure that your assets are protected in the event of damage and that you are protected from the risks associated with your … Continue reading Review Your Insurance Coverage
Over the years, I’ve seen lots of people regret what they did with their inheritance. Regrets over how their inheritance was spent or how it was invested or how it was taxed. Regrets over who later will inherit it. And regrets about what happened to their inheritance in a divorce. Often, people tend to do something that … Continue reading What Should You Do With Your Inheritance?
California law states who has priority to serve as administrator of your probate estate if you died without a will and with a California estate large enough to require a California probate. Specifically, a person in the following relation to the decedent is entitled to appointment as the California administrator in the following order of priority: … Continue reading Who will be in charge of your estate if you have no estate plan?