Summer is here! A California summer is all about sunshine, relaxation, and maybe even checking off some those to-do list items you’ve been putting off. While you are sorting out travel plans and backyard BBQs, it may be the perfect time to tackle something equally important to you and your family: your estate plan. Creating a solid estate plan isn’t…
Many people choose an adult child or other relative to serve as the successor Trustee of their trusts. However, there are often concerns about a relative’s ability to administer a trust, such as sibling rivalries, personal obligations, or irresponsibility. In situations where a client does not have a clear, solid choice for a successor trustee, they may consider a professional…
When it comes to estate planning and making decisions for the future, it is essential to understand the roles of various fiduciaries that can help manage your affairs. Two commonly used roles are an agent under a durable power of attorney and a trustee of a revocable living trust. While a comprehensive estate plan typically includes both a durable power…
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 young adults embark on the journey toward independence, many significant milestones exist to celebrate. From securing your first job to getting married or purchasing a home, each milestone presents new opportunities and responsibilities. While estate planning might seem reserved for older individuals, it is a crucial step to take as soon as you reach certain key milestones. Below are…
One of the noteworthy pieces of legislation passed in 2024 was Assembly Bill 2016 (AB 2016), which aims to address accessibility, efficiency, and fairness within California’s probate procedures. Probate is the court process through which a deceased person’s assets are administered and distributed to beneficiaries and heirs. It can be a complex, time-consuming, and expensive process. AB 2016 seeks to…