You have heard the common estate planner saying, “make sure your beneficiary designation forms are filled out!” Yet, one of the most critical and often overlooked aspects of the estate planning process is properly filling out a beneficiary designation form after creating an estate plan. Beneficiary designation forms are filled out for retirement accounts like 401(k)s, IRAs, and even pensions…
As the cooler weather dawns upon us, we cannot help but feel the nostalgia of the Holiday season looming in the distance. The Holidays inevitably bring together loved ones from all over to share in the celebration of family, gratitude, and the togetherness of people from near and far. Because having all your loved ones under the same roof is…
Why Do I Have to Do a Probate When I Have a Trust? As an estate planning attorney, one of my least favorite conversations with a new client starts with me saying “I’m so sorry, but unfortunately, even though you have a trust, we are going to have to do a probate.” Clients are surprised to learn that this can…
The Importance of a Revocable Living Trust for the Sandwich Generation Financial planning can feel like a never-ending balancing act for members of the Sandwich Generation—those simultaneously caring for aging parents and supporting their children. This dual role can be incredibly demanding, both emotionally and financially. Financial resources can be stretched thin between paying for their children’s education, managing household…
Understanding the Corporate Transparency Act: A Guide for Estate Planning Clients The Corporate Transparency Act (CTA), enacted as part of the National Defense Authorization Act for Fiscal Year 2021, represents a significant shift in corporate regulatory compliance. As an estate planning attorney, it is crucial to ensure that my clients are aware of this legislation and understand how it may…
Transfer on Death (TOD) deeds gained legal recognition in 2016 as a means of transferring real property outside of probate in California. Since then, TOD deeds have emerged as a popular estate planning tool, offering a streamlined alternative to probate for transferring real estate assets. A TOD deed is a legal document that allows real property owners to designate beneficiaries…
Death is a topic many of us prefer to avoid, but as responsible adults, planning for the future includes considering what will happen to our assets when we’re no longer around. US Savings Bonds are a common investment choice for many Americans due to their low risk and reliability. However, what happens to these bonds after the bondholder passes away…
