Darling & Wilson, PC Legal Blog
A trust can be an alternative to disinheritance
It is a big step to disinherit someone by taking them out of your estate plan. But you may feel that it’s necessary. Perhaps you are worried about their spending habits, for example. Maybe they frivolously waste the money they have, so you believe they will burn...
Who pays a decedent’s debts?
Some people don’t have a chance to pay off all their debts before they pass away. This leaves the question of who will pay for those debts when the person dies. The answer to this isn’t always easy, but taking the time to review the circumstances around the debt may...
3 reasons business partners get into disputes
You hope that you and your business partner will be able to run the company amicably, but you also know that disputes are possible. Some of these disputes may be so significant that you have to go your separate ways and close down the business. Others may be...
When might you need to change your executor?
When you named your current executor, you may have thought they would assume their duties when the time came. However, this may not happen. You may need to name another party to serve. Here are five circumstances that may require you to change your executor: Divorce...
What is a medical power of attorney?
When you’re creating an estate plan, you have to make decisions that go beyond who will receive what assets as their inheritance. Some of these have to do with making sure you’ll be taken care of if you aren’t able to make decisions on your own. If you become...
2 things to know regarding your executor
When estate planning, you need to choose an executor to manage your estate before distribution. They are required to follow all the instructions in your will, manage your properties, pay debts, file tax returns, communicate with beneficiaries and interested parties...
2 reasons not to procrastinate estate planning
Did you know that the average person in the United States does not have an estate plan? Reports consistently find that the majority of people haven’t taken this critical step. They have not written a will, drafted a power of attorney, or addressed other important...
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...