Given how popular trusts are within an estate plan, there is a very good chance that you will be directly involved in a trust at some point in your life. Trusts are broadly divided into testamentary and living trusts with the latter being further divided into revocable and irrevocable living trusts. If you are faced with the desire to modify or terminate an irrevocable living trust you may assume that it cannot be done; however, that is not entirely true. A Crenshaw Trust Attorney at Collins Law … [Read more...]
Top 3 Wealth Protection Strategies
A basic estate plan helps you create a roadmap for the distribution of your estate assets after you death. A more comprehensive estate plan, however, can accomplish much more. Protecting the wealth that you accumulate over the course of your lifetime, for example, is a goal that can be furthered within your estate plan. A Los Angeles estate planning attorney explains three of the most popular wealth protection strategies that you might choose to include in your estate plan. Wealth Protection … [Read more...]
Early Retirement May Be Costing You a Fortune
When it comes to planning for retirement there are a number of decisions that must be made. One of the most important of those decision is when to retire. More specifically, when to start accepting Social Security retirement benefits. Although it may be tempting to start accepting those benefits as early as possible, a Los Angeles elder law attorney at Collins Law Group explains how early retirement may cost you a small fortune. Social Security Retirement Benefits The Social Security … [Read more...]
Should I Use a Will or a Trust to Distribute My Estate?
For most people, the ability to decide how their estate assets are distributed after they are gone is a primary motivation for creating an estate plan. If that is one o your primary estate planning goals, you will need to decide exactly how you want the majority of your assets to be distributed – via a Last Will and Testament or a trust agreement. A Los Angeles estate planning attorney at Collins Law Group offers some factors to consider when deciding whether a Will or a trust should be used to … [Read more...]
Probate Mistakes You Want to Avoid Making
If you recently lost a loved one and find yourself in charge of administering the decedent’s estate, you will likely find yourself struggling to manage your grief while simultaneously focusing on the practical steps you need to take during the probate process. Unfortunately this internal struggle often leads to making a mistake. Sometimes those mistakes can be costly ones. To help you avoid making those mistakes, a Los Angeles probate attorney at Collins Law Group discusses probate mistakes you … [Read more...]
What Should I Do If I Suspect My Mother Is the Victim of Elder Abuse?
As an adult child, it can be difficult to watch your mother age and become vulnerable. Under the best of circumstances you undoubtedly worry about her. If you have reason to suspect that your mother is the victim of elder abuse, however, that worry takes on a heightened level of importance. A Baldwin Hills elder law attorney at Collins Law Firm explains what you should do if you suspect that your mother is the victim of elder abuse. The Rise of the Elderly The older population has grown at a … [Read more...]
Can I Disinherit an Heir to My Estate?
For most people, a primary motivating factor for the creation of an estate plan is the ability to dictate who inherits from their estate. What happens though, if your biggest concern is not who does inherit from your estate, but who does not inherit from your estate? A renowned Los Angeles estate planning attorney at Collins Law Group explains how to disinherit an heir from your estate plan. Who Are My Heirs? If it is important to you to be the one to determine what happens to your assets … [Read more...]
The Little Things May be the Most Important
Your estate may be worth a little or a lot at your death. The items which your beneficiaries might cherish could be the sentimental ones. Read on to learn how your will or trust could provide the ability for you to keep a list and update it without needing to see your lawyer every time you change your mind on an item. The Little Things May be the Most Important … [Read more...]
Can You Avoid Probate With a Will?
When you think about the need for an estate plan, you likely focus on the desire to ensure that your estate is distributed according to your wishes after you are gone. While that is certainly a strong motivating factor in the creation of most estate plans, a comprehensive estate plan can accomplish much more. Probate avoidance, for example, is a common secondary goal for many people. Much confusion, however, exists with regard to how to structure an estate plan so that an estate avoids probate. … [Read more...]
Will My Parents Qualify for Medi-Cal?
Many adult children experience a role reversal with their parents as their parents age. If you are going through this phenomenon with your parents, you are likely starting to worry about the rising cost of healthcare for seniors. As your parents get older, their healthcare costs will undoubtedly increase. If one (or both) of them needs long-term care at some point, the cost of that care could easily exceed $100,000 per year. To ensure that your parents can afford that care if it is needed, the … [Read more...]
