You have a number of different legal devices at your disposal when you are engaged in your estate planning efforts. Trusts can satisfy many different respective underlying objectives, and you should understand all of the facts so that you can protect your resources and provide for each person that you love in the ideal manner. A major distinction between classes of trusts is the power of revocation. There are some trusts that you can revoke, and there are also irrevocable trusts. Let's look at … [Read more...]
Free Report: Why Is Incapacity Planning Important
The Alzheimer's Association is a fantastic source of information about this horrible disease. According to their website, around 45 percent of people who are 85 years of age and older are suffering from the disease. Alzheimer's disease causes dementia, and people with dementia are typically going to become unable to make sound decisions on their own at some point in time.Topics covered in this report include:Impact of Aging Decision MakingClick here to read the whole report or … [Read more...]
Questions to Ask When Choosing a Trustee
One of the most popular additions to a well thought out estate plan is a trust. One reason trusts are so popular is the multitude of estate planning goals that can be achieved with a trust. If you plan to include a trust in your estate plan, you will need to appoint a Trustee to oversee the administration of the trust. If you have never before created a trust, you may be a bit intimidated at the thought of having to choose a Trustee. The Los Angeles trust administration attorneys at Collins Law … [Read more...]
Attorney Caprice L. Collins Asks: Do You Have an Incapacity Plan?
The motivation behind creating an estate plan typically comes from the desire to protect and provide for loved ones. While that motivation may initially be a result of the knowledge of your own immortality, death is not the only threat to the stability and safety of you and your loved ones. Your own incapacity could also be a threat. With that in mind, the Los Angeles living trust attorneys at Collins Law Firm urge you to reflect on whether you have an incapacity plan within your estate plan or … [Read more...]
Sager Family Shows Perils of Blended Families
Presented by Attorney Caprice L. CollinsBlended families require special planning. Sometimes, the children from the prior marriage bond with the new spouse and the family moves forward in a happy, newly modified form. However, frequently, the new marriage brings conflict between the new spouse and the children of the prior marriage. Such is the case with the Sagers.In 1980, sports reporter Craig Sager married Lisa Gabel. They had three children, Craig, Jr., Kacy, and Krista. But, over … [Read more...]
Los Angeles Medi-Cal Attorney — How to Avoid “Spend-Down”
Planning for your retirement years requires you to do more than simply save money. You need to think about how to protect the money you manage to accumulate for your retirement years as well. One way you can do that is by contemplating the need for long-term care, and the cost of that care, in your estate plan. Specifically, you need to consider the impact that Medi-Cal’s “spend-down” requirement could have on your retirement nest egg or you could lose the entire nest egg. To help you, a Los … [Read more...]
Los Angeles Asset Protection Strategies for the Beginner
Although the primary focus of your estate plan may be how your assets will be passed down to loved ones at the end of your life, your estate plan should also help protect and grow those assets throughout your lifetime. In fact, asset protection should be an important component of your estate plan because failing to protect your assets could mean you have nothing left to pass down at the end of your life. To help you get started, consider the following Los Angeles asset protection strategies for … [Read more...]
10 Steps in the California Probate Process
One of the most common goals of a comprehensive estate plan is probate avoidance. If you are relatively new to the world of estate planning, you may have listened to well-meaning friends and family members tell you how important it is to avoid probate; however, they may have neglected to explain why probate avoidance is so important. In order to explain why avoiding probate is such a sought after estate planning goal you need to have a better understanding of the California probate process. … [Read more...]
Los Angeles Estate Planning Lawyer Explains the Danger in a DIY Will
Like over half of all Americans, you may be aware of the importance of having an estate plan in place, yet you have still not gotten around to creating one. In fact, you haven’t even executed a Last Will and Testament yet. In today’s electronic age, it can be very tempting to rectify that by turning to a “Do-It-Yourself” Will form you find on the internet. After all, using a DIY form would save you money and time, right? The reality is that while a DIY Will form might appear to save you time and … [Read more...]
Inglewood Trust Attorney Explains a QDOT Trust
As both your assets and your family grow, your estate plan should grow with them. You will soon find that a simple Last Will and Testament is not sufficient to meet all of your estate planning needs and goals. One of the most common additions to an estate plan is a trust agreement. The type of trust you establish will depend on your goals and objectives. If you are married to a foreign national, or non-citizen, your estate planning attorney may suggest that you include a Qualified Domestic … [Read more...]
