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...] about What Should I Do If I Suspect My Mother Is the Victim of Elder Abuse?
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...] about Can I Disinherit an Heir to My Estate?
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...] about The Little Things May be the Most Important
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...] about Can You Avoid Probate With a Will?
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...] about Will My Parents Qualify for Medi-Cal?
If you recently lost a family member or a close loved one, you are undoubtedly still going through the grieving process. At some point, however, the legal ramifications of the decedent’s death will need to be addressed by someone. If that “someone” turns out to be you, and you have never before handled the practical aspects of a loved one's death, you may have a number of questions. One of the first questions people have after losing a loved one that left behind a relatively modest estate is … [Read more...] about Do All Estates Need to Be Probated?
If you are fortunate enough to be a grandparent, you understand the joy a grandchild brings into your life. Becoming a grandparent may also prompt you to make some changes to your estate plan if you wish to include your grandchildren in your plan. A Los Angeles living trust attorney at Collins Law Office explains why using a living trust to gift to grandchildren is often a much better option than relying on your Will to make those gifts. Why a Last Will and Testament May Be Inadequate The Last … [Read more...] about How to Use a Living Trust to Gift to Grandchildren
Creating a comprehensive estate plan requires you to consider a number of factors that might impact you as you age, including the likelihood that you, or a spouse, will need long-term care. If you do end up needing long-term care (LTC), the cost of that care could put your estate assets at risk if you failed to plan for the possibility ahead of time. One way to plan ahead for LTC is to purchase LTC insurance. Long-term care insurance, however, is not right for everyone. To help you decide if it … [Read more...] about Should I Purchase Long-Term Care Insurance?
As we turn the page and bid farewell to 2018, we look forward to 2019. This article summarizes the major changes for 2019, both in the tax area and in other areas. Read on to learn more. Turning the Page on 2018 and Looking Forward to 2019 … [Read more...] about Turning the Page on 2018 and Looking Forward to 2019
If you are a parent, your primary motivation for creating an estate plan is to ensure that your estate passes to your children when you are gone. Exactly how your estate assets are distributed, however, can be the source of much internal debate. One question you may wrestle with is whether you should split your estate equally among your children. Many parents feel obligated to create an equal split in their estate plan, despite having reservations about whether that is really the best idea. … [Read more...] about When Is Leaving an Equal Inheritance Not the Best Decision?