One of the primary reasons for executing a Last Will and Testament is to ensure that your estate assets are distributed according to your wishes after your death. If someone chooses to challenge that Will, however, the ensuing litigation could result in your Will being declared invalid and your estate distributed using the California intestate succession laws. The Los Angeles estate planning attorneys at Collins Law Firm offer tips on how to prevent a Will contest. What Is a Will Contest? The … [Read more...] about Can I Prevent a Will Contest?
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The Basics: “HIPAA” Powers
This is the second in a three-part series of articles on Powers of Attorney. The first article examined the Financial Power of Attorney. This second article examines the Healthcare Power of Attorney and Advance Directive. Read on to learn more … [Read more...] about The Basics: “HIPAA” Powers
Remember to Update Your Beneficiary Designations
If you have a comprehensive estate plan in place already, you are ahead of over half the population in the United States. Clearly, you understand the importance of having an estate plan as well as the benefits derived from a well thought out plan. Don’t make the mistake, however, of thinking you no longer need to worry about your estate plan. For your plan to provide maximum benefits, it must be reviewed and revised from time to time. To illustrate this point, a Windsor Hills estate planning … [Read more...] about Remember to Update Your Beneficiary Designations
When Roles Reverse & Your Parents Need You Help
Thanks to advances in medicine and science, as well as an overall better quality of life, Americans at the beginning of the 21st century have an average life expectancy of almost double what they had at the beginning of the previous century. Despite this, the natural aging process has not changed significantly during the last 100 years. We are simply better able to prolong the inevitable. As a result, it often comes as somewhat of a shock when we realize our parents are getting old – and that … [Read more...] about When Roles Reverse & Your Parents Need You Help
Avoiding Family Chaos in the Coronavirus Age
The novel “coronavirus” (also called “SARS-CoV-2”) causes the disease “COVID-19.” It first appeared in late 2019 and was reported to the World Health Organization (WHO) on December 31, 2019. Here’s a link to the WHO’s site for the latest global information. COVID-19 has impacted the lives of millions of people and countless events around the world. The coronavirus has infected over four million people around the world, including over a million in the United States. It has killed over 80,000 … [Read more...] about Avoiding Family Chaos in the Coronavirus Age
Is It Possible to Modify an Irrevocable Living Trust?
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...] about Is It Possible to Modify an Irrevocable Living Trust?
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...] about Top 3 Wealth Protection Strategies
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...] about Early Retirement May Be Costing You a Fortune
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...] about Should I Use a Will or a Trust to Distribute My Estate?
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...] about Probate Mistakes You Want to Avoid Making
