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When a person dies, their estate goes through a legal process called probate. While this process is necessary, it can often be a source of stress and tension among family members. Emotions run high after losing a loved one, and the added complexity of legal and...
Providing long-term care and financial security for a family member with special needs can be a complex challenge. One solution is a special needs trust. This financial tool can provide numerous benefits, but it is essential to understand when it might be necessary...
Debt is part of the modern economy. Most young adults can't obtain a college degree without taking on debt. Many households rely on revolving lines of credit to cover unexpected expenses. Individuals who need emergency medical care may end up with staggering levels of...
Creating a trust is a responsible step towards securing your family's financial future. Still, without proper safeguards, beneficiaries who may not share your financial discipline may squander your hard-earned assets. This is where a spendthrift clause in a trust can...
How does probate handle art collections? When a loved one passes away, their cherished art collection becomes more than just beautiful pieces on the wall. It transforms into a complex asset that must be carefully managed during the probate process. From famous...
Dealing with a loved one's estate can be overwhelming. However, in California, some estates can bypass the lengthy probate process. Let us explore how the Small Estate Affidavit works and when you can use it. What is a Small Estate Affidavit? A Small Estate Affidavit...
We inevitably lose loved ones, sometimes due to old age or sometimes because of illness or an accident. In any case, the pain and heartache of losing them can be beyond challenging. Often, our elders can prepare for their passing and draw up a will to handle the...
Many people establishing an estate plan use one particular testamentary instrument. They may choose to draft a will or to establish a trust. Factors including the age of beneficiaries and the value of personal assets can influence which testamentary instrument a...
The power of attorney is an essential part of estate planning. This document allows you to legally designate someone to act on your behalf and make decisions with your best interests in mind. Medical vs. financial powers of attorney Two types of powers of attorney...
When a loved one passes away, the process of settling their estate begins, which involves determining the value of each asset and the estate’s total value. This valuation is not only crucial for fair distribution among heirs but also for meeting legal requirements....