Estate planning for same-sex couples is the same now as it is for other married couples. It hasn't always been like this, so if you are a member of the LGBTQ community, you know about the struggle for equality. Fortunately, the struggle has finally started to produce tangible results as evidenced by the Supreme Court decision declaring the right to marry to be a fundamental right that cannot be infringed upon by state laws probiting same-sex marriage. Estate Planning for Same-Sex Couples … [Read more...] about Estate Planning for Same-Sex Couples
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Death and Your Digital Footprint
As more and more individuals get comfortable in the digital world, Estate Planning has evolved to address the collection and transfer of digital assets. The widespread use of a legacy contact and password managers gives owners of digital content control in determining what happens to the digital information after they die. Read on to learn more. … [Read more...] about Death and Your Digital Footprint
What Are the Duties and Responsibilities of a Trustee?
When someone decides to create a trust, one of the most important decisions they must make is who to appoint as the Trustee. If you were recently notified that someone appointed you as the Trustee of their trust, and you have never before acted as a Trustee, you may feel a bit overwhelmed. As a Los Angeles trust administration attorney at Collins Law Firm explains, the key to performing your new role of Trustee well is to gain a complete understanding of trust administration and the duties and … [Read more...] about What Are the Duties and Responsibilities of a Trustee?
Tips for Parents with Minor Children
Every adult can benefit from having a comprehensive estate plan in place; however, for some adults estate planning takes on heightened importance. Parents with minor children, for example, have even more reason than the average person to have a well-thought-out estate plan in place for several reasons. If you are the parent of a minor child, it is in your best interest, and that of your child, to work closely with an experienced California estate planning attorney to ensure that your child(ren) … [Read more...] about Tips for Parents with Minor Children
What You Need to Know about Charitable Trusts
Is philanthropy part of your daily life? Are the charities to which you donate your time and money important to you? Do you wish to continue to contribute to those charities even after you are gone? If you answered “yes” to these questions, you should include charitable gifting in your estate plan. The Los Angles trust lawyers at Collins Law Group explain how to use a trust to make charitable gifts. Can’t I Just Make a Charitable Gift in My Will? The first question people ask when … [Read more...] about What You Need to Know about Charitable Trusts
Why Is Inheritance Planning Important?
Most people recognize the need to have an inheritance plan in place; however, too many fail to recognize when inheritance planning should start. In fact, many people are under the mistaken impression that you must achieve a certain level of material wealth before planning should start. To help clear up some of the common misconceptions about inheritance planning, a Baldwin Hills estate planning attorney explains why inheritance planning is important. What Is Inheritance … [Read more...] about Why Is Inheritance Planning Important?
Are There Expenses Involved in Administering a Trust?
A living trust is among the most common additions to an estate plan. A living trust can be used to help with a variety of estate planning goals, including probate avoidance, incapacity planning, and asset protection. If you are considering a living trust for your estate plan, you may be concerned about the cost of administering that trust once it is active. A Los Angeles trust attorney at Collins Law Firm explains typical costs involved in administering a trust. Trust Basics A … [Read more...] about Are There Expenses Involved in Administering a Trust?
Is a Will or a Trust Better for Distributing Estate Assets?
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 most 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 Firm offers some factors to consider when deciding whether a Will or a trust should be used to … [Read more...] about Is a Will or a Trust Better for Distributing Estate Assets?
How Is Estate Planning Different If You Have Minor Children?
Every adult can benefit from having a comprehensive estate plan in place. There are some adults, however, for whom estate planning takes on a heightened importance. Parents with minor children, for example, have even more reason than the average person to have a well thought out estate plan in place for several reasons. If you are the parent of a minor child, it is in your best interest, and that of your child, to work closely with an experienced California estate planning attorney to ensure … [Read more...] about How Is Estate Planning Different If You Have Minor Children?
Are Your Assets Protected in Your Estate Plan?
If you already have an estate plan in place, or you are planning to create one soon, a primary motive for that plan is likely to protect and provide for loved ones after you are gone. To accomplish that goal, however, you must protect the assets you have while you are here. To ensure that you assets are safe, you must first recognize the myriad of ways in which they may be at risk. To get you started, the Los Angeles trust lawyers at Collins Law Firm discuss some of the most common threats to … [Read more...] about Are Your Assets Protected in Your Estate Plan?
