A: No, your trust can be created to include any children you have now and any children that you may have in the future. Amending your trust in the future is an option if you want to change any of its provisions, but you can rest assured that it can be created...
A: You start by assembling your team of superstar players by choosing the best people to serve as your executor/trustee, power of attorney, healthcare agent, guardian of your children, etc. They'll work together to carry out the goal of scoring as many runs as...
A: Although you certainly can, you will want to be thoughtful before doing this because you could inadvertently disinherit one of your children if you decide to sell one of those properties during your life and then fail (or forget) to go back and update your estate...
Why is estate planning so critical for the Easter Bunny? What would happen if, in the midst of our fluffy friend’s egg-citing adventures, he suddenly faced an unforeseen danger? Protecting the Chocolate Empire: The Easter Bunny has spent millennia building a global...
In addition to the significant cost savings of avoiding probate, a thoughtful estate plan also allows you to do all of the following: - protect and provide for the care of your children or other loved ones - provide for management of your own finances and care if you...
A: Here are 5 simple steps to update your estate plan: 1. Review your existing estate planning documents and make notes of the changes you want to make. 2. Create an updated inventory of your assets, how title is held, and who the beneficiaries are, if any. 3. Meet...
A: Yes! In California, decedent's estates with a fair market value of more than $184,500 must go through a formal probate in court to be administered and eventually distributed to the decedent's heirs. One way to avoid probate is to create a trust and transfer your...
A: No. Here’s why: If something happens to you, your life insurance proceeds won’t pay out until they are 18 years old. This is not why you got life insurance and not what you want! The solution? Name your living trust as the beneficiary on your life policy instead! A...
A: In the event of an unexpected death, courts will consider the best interests of a child when determining who is the best fit as guardian, and the wishes of a parent are generally given tremendous weight in making that decision. If it matters to the parent who would...
A: Any time you open a new bank account that you want to include in your trust, be sure to title the bank account in your name as trustee of your trust. This will ensure that the account is administered as part of your trust estate and that it is not subject to...
