When estate planning, many hesitate to draft a will, relying on common beliefs about asset distribution after death. Understanding what actually happens to your assets if you pass away without a will can help you make informed decisions when estate planning. 1. The...
Year: 2024
A child left out of a will: Can it affect probate?
Many people create wills to protect their families and ensure they provide financial security and support to their loved ones even after they pass away. Parents usually include comprehensive terms to ensure their children receive their share of the assets during...
Do the California probate courts enforce no-contest clauses?
A variety of different people have an interest in an estate after someone dies. The family members of the deceased have an interest as heirs or beneficiaries. Close acquaintances or trusted individuals may have accepted a request to serve as the personal...
Four components of a comprehensive estate plan
Most people believe that having a will is enough to ensure that all their assets will go to their desired beneficiaries after they pass away. While a will is a good starting point for expressing your wishes when you die, some assets are best secured through separate...
How does a trust bypass the probate process in California?
A trust bypasses the California probate process primarily because the ownership of the assets moves to the trust, not to an individual. When you create a trust, you transfer your assets into it and effectively change their ownership from your personal name to the...
How poor drafting of a will can lead to its invalidity
When creating a will, precision and adherence to legal standards are crucial to its effectiveness. When a will is poorly drafted, it can lead to several issues that might trigger challenges and potentially invalidate the will. Here are several ways poor drafting can...
What inheritance rights do stepchildren have in California?
When a person dies without a will, intestate succession laws can come into play, allowing the court to appropriately intervene and distribute the deceased's estate. These laws have provisions indicating specific designations concerning legal heirs and beneficiaries,...
Why should you structure your estate assets to avoid probate?
When you think about the future and the legacy you will leave behind, it is essential to understand the processes that will unfold after you pass away. One of these is probate, a term that might sound distant and technical until it becomes a part of your family's...
3 essential things to remember before succession planning
Building a business is a significant achievement. Naturally, as the owner, you would want to secure its future through careful business succession planning. This process requires careful thought and preparation. Failing to do so could risk the future stability of your...
How can you support charities in your estate plan?
For residents of California looking to support charities through their estate plan, there are several effective strategies to consider. With charitable giving in mind, estate planning can fulfill philanthropic goals and provide tax benefits. Understanding the various...