What is a Will?
A Will is a way to make your wishes known and allocate assets to your chosen beneficiaries. It is the only way to bequest assets to friends or unmarried romantic partners.
Probate is the legal method by that the fiduciary (executor) of the estate ultimately settles all affairs of a deceased dearest. It is typically more sophisticated for the executor of an estate, who has a fiduciary obligation and who has been entrusted with the responsibility of overseeing an estate’s assets while facilitating the methodical process of probating the estate.
Estate planning attorneys may work with financial experts to help customers create legally-binding trusts related to the disbursement of money and assets.
Great legal representatives can often provide advice for a better distribution of an estate’s assets. Going forward, legal documents can be drafted and utilized to discharge debts (like mortgages and loans) upon the death of an individual. This aids in avoiding the creation of any undue burden upon family members.
Serving as executor to someone else is a position of trust, but it’s also a tall order. An executor is responsible for realizing another person’s last will and testament – which can be anything as simple as final resting place arrangements to parceling out property. If debts and taxes are involved, the executor might have to protect the deceased person’s assets until such time as those affairs are settled. Continue reading
Not necessarily. Executors can handle most estate situations even if the situation heads to probate court. Probate is essentially a paperwork-based process and not many disputes land in front of a judge. However, depending on the estate, a Palm Springs probate attorney may be a wise adviser for the situation. Continue reading
Choosing an Administrator
In the event that someone dies and they did not leave a will that precisely indicates how his/her property will be distributed, then the property is transferred under the care of an administrator. In California, the surrogate court issues letters of administration to the next of kin of the deceased. Continue reading
With a wide array of resources to help every client, a reputable Palm Springs estate planning attorney will be able to draw up a complete estate plan for your situation. With a commitment to handle all cases with pristine care, there is no stone unturned to be certain of proper representation of all estate planning and probate needs. Continue reading
Name one family who wants to go through the probate process? No matter how close your family is, going through a probate process can lead to great family conflicts. These battles can multiply and persist for long periods. It does not matter whether it is contesting a will or executing the specifications a will. Ultimately, to prevail and to sort these matters swiftly, you need to seek the services of a probate attorney. Continue reading
As our population ages, people are living longer and this will change the landscape of estate planning. Baby boomers’ responsibilities now go beyond their own retirement. With both baby boomers and their parents in retirement, boomers must consider their parents’ welfare, too. This requires planning today and into the future. Some points to focus on are end-of-life choices and what happens to an estate in the event of a death. Continue reading
Our Palm Springs estate planning law firm suggests you weigh the risks of not having an estate plan. In the event you pass on before having one created, your dependents and family have to take care of the transfer of all possessions into their names. However, it is not that easy. Here are a few reasons why you want to create an estate plan: Continue reading
Palm Springs trust and estate lawyers know that having an estate plan in place for elderly individuals is essential. It should be made aware to everyone that estate planning is not an issue for just the elderly. Everybody should actually think about what their own unique plan should be when they are gone. This estate planning process can be done at any age. These financial decisions are very important. It is a good idea to have an estate plan in place in order to make your financial wishes be known. Continue reading
It is becoming increasingly common for many unmarried couples to live together and build a life together, whether they are same sex or opposite sex couples. However, there are many real estate issues and opportunities that should be planned for in advance because these are challenges married couples do not need to worry about. If an unmarried couple is ready to tackle an estate plan, talk to a Palm Springs estate planning attorney to make sure that you formulate your estate plan correctly to address your needs. Continue reading
Probate can be expressed as a court proceeding in which your estate is dispersed after your death. When an estate goes in to probate, all of the decedent’s assets and financial debt will be distributed according to the person’s last will and testament. Probate will also allow the heirs to settle any disputes they may have with the final wishes set forth in the will or any disputes concerning the final estate. Continue reading
When shopping for Estate Planning advisory services, many consumers become overwhelmed by the myriad of options available on the market. Glitzy and persuasive advertising campaigns put out by lawyers, banks, insurance firms and financial advisors add to the confusion. Continue reading
Things are changing for same-sex couples. Same-sex marriage is seeing growing acceptance, both socially and legally on a federal and state level. Same-sex couples aren’t the only “alternative” families. There are a growing number of people choosing to have children without waiting to get married first. Just because the law permits these “alternative” families doesn’t mean that laws affecting them are up-to-date. Continue reading
Planning for any sort of estate can be something you do not look forward to, but it is a must and something you need to do. Planning appropriately helps ensure the assets and money you’ve accumulated by yourself or your parents go to the appropriate person(s) after death. It is never a good idea to wait to plan an estate plan. With the assistance of one of our Palm Springs estate planning attorneys, you can have your estate plan completed. Continue reading
Estate planning is always a difficult thing to do, but it is something that must be done. In order to protect yourself and your family, you need to know where money and assets are going once you or your loved one has passed on. Dying without an appropriately set up will is extremely dangerous, as the government can access these items, heavily tax everything and simply reduce the amount of money and assets the family receives. However, with our Palm Springs trust and estate lawyers, it is possible to take care of the planning now for your peace of mind. Continue reading
The topic of this article is about a special type of California bank account sometimes known as a ‘Totten Trust’. It’s a very simple and quite effective way of avoiding probate, which is why it is also well known as a POD (payable on death) account. POD accounts are just bank accounts in which you name a beneficiary to inherit the funds once you die. Continue reading
Probate lawyers are an integral part of estate planning and estate settlement. Probate attorneys execute someone’s last will. Estate executors can hire lawyers to draft and record legal documents through the court or to help with administrative tasks. A Palm Springs Estate administration attorney can help with this. Continue reading
Having the government interfere with your estate is one of the biggest problems your loved ones have to handle. This problem becomes even bigger if the person who receives part of the estate happens to have special needs. It can also greatly increase the chances of the government taking an exceptionally active role in the management of the estate. The best way to avoid this is by having a Palm Springs special needs lawyer manage the estate. Continue reading