Year: 2024
What to know about the advance health directive form in California
One of the documents to draft when estate planning is an advance health directive form. This document allows you to provide health care instructions to be observed if you become incapacitated. This way, your family won't need to spend time figuring out what you would...
4 tips to protect yourself from living trust scams
Planning your estate is an important step that helps ensure the proper distribution of your assets according to your wishes. This includes creating trusts, such as living trusts, which can provide financial security and avoid probate for your loved ones. However,...
2 reasons a partnership should address ownership percentages
When drafting a partnership agreement before starting a business, one critical detail to include is each partner’s ownership percentage. While some assume the split will be 50/50, relying on assumptions or informal agreements – such as a handshake deal – can lead to...
Can you still make decisions after drafting a power of attorney?
If you recently received a serious medical diagnosis, you may be reevaluating your estate planning. Perhaps you’re considering using a medical power of attorney. In case of an emergency or if things take a turn for the worse, you want to choose an agent who can help...
3 types of trusts to add to your estate plan today
Many Americans have a will, which allows them to instruct how their estate should be managed after they pass away – including naming beneficiaries to inherit the deceased’s assets. Before a beneficiary receives any inheritance, they may need to wait for the probate...
What are the problems with dying intestate?
Many people who pass away have an estate plan in place. At the very least, they have written a will that specifies how they want to split up their major assets. They may also have detailed information about minor assets and family heirlooms. They could have drafted a...
Death and identity theft: What to tell your heirs
Identity theft – which often involves someone trying to steal your identifying information and using it to open credit cards, obtain loans and more in your name – is a big problem these days. Believe it or not, you can’t even stop worrying about identity theft once...
2 options for debt in an estate plan
When making an estate plan, it’s important to deal with debt as well as assets. Your assets will get passed on to the next generation, and you can use your estate plan to do this. You could put financial assets in a trust, for instance, or just leave them to someone...
Why would you need a financial power of attorney?
When people think of a power of attorney, they often start by considering a medical power of attorney. This document legally gives someone else the ability to make healthcare decisions for you. If you become incapacitated, this is very helpful because they can work...
Why should your business partner have complementary skills?
If you’re looking for a business partner, your natural inclination may be to find someone that you’re comfortable with. This will probably be someone who is similar to you, and they may have similar skills and abilities. But as much as this feels natural, it is often...