Trusts are among the most common of all estate planning tools given the numerous and varied goals a trust can help you achieve within your estate plan. If you decide to incorporate a trust into your estate plan, you will need to appoint a Trustee to administer the trust. You may be tempted to appoint yourself as the Trustee. A Los Angeles trust administration attorney at Collins Law Firm discuss the wisdom of appointing yourself as the Trustee of your own trust. Trust Basics A trust … [Read more...] about Can I Be the Trustee of My Trust?
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Can I Avoid Conservatorship?
Although it may be difficult to envision a future where you are incapacitated and unable to care for yourself and/or manage your affairs, doing so now ensures that you retain control over who will be chosen to make decisions for you and manage your affairs for you. If you fail to plan ahead for the possibility of your own incapacity, it may be left up to a court to make that decision. A Los Angeles probate attorney from Collins Law Firm explains how careful planning now could avoid … [Read more...] about Can I Avoid Conservatorship?
Tips for Long-Distance Caregivers
Today, the world is much smaller than it was just a few generations ago – at least it may seem that way given how easy it is to move across national borders. The ease with which we can all move away, however, can make it difficult to care for an aging parent when the time comes that care is needed. Consequently, you may find yourself providing care from afar. If so, a Los Angeles elder law attorney at Collins Law Firm offers some tips for those who are providing care … [Read more...] about Tips for Long-Distance Caregivers
Choosing An Executor & Its Importance
Choosing an executor of your estate does not have to be a difficult process, but there are some important considerations to keep in mind. For most people, the first estate planning document they create is a Last Will and Testament. When you create your Will, it is likely that your focus will be on the gifts that you wish to leave your loved ones. While the distribution of your estate assets is an important aspect of creating your Will, the appointment of an Executor is also important. In … [Read more...] about Choosing An Executor & Its Importance
How to Include Intellectual Property in Your Estate Plan
Estate planning, by definition, involves making plans for your estate assets in the event of your death. Your estate consists of all real and personal property as well as tangible and intangible assets owned by you, or in which you share an ownership interest, at the time of your death. Assets such as your home, vehicles, investment accounts, and securities likely come to mind when you contemplate estate planning; however, there is another category of assets that may also need to be considered – … [Read more...] about How to Include Intellectual Property in Your Estate Plan
Am I Entitled to My Spouse’s Social Security Benefits?
The days of relying entirely on Social Security to fund retirement are long gone; however, Social Security retirement benefits continue to play a significant role in financing the retirement years for many retirees. If you recently lost a spouse, finances may be especially tight for you, leaving you to wonder whether you are entitled to any assistance based on your deceased spouse’s Social Security benefits. A Los Angeles elder law attorney at Collins Law Firm helps explain when you might be … [Read more...] about Am I Entitled to My Spouse’s Social Security Benefits?
Common Mistakes in Estate Planning – IV
With the proliferation of the internet has come a plethora of websites claiming that individuals may take a “Do It Yourself” approach to Estate Planning. While individuals may think that a plan created by one of these companies will meet their needs and save them money, the opposite is true. These plans often fail to contain necessary provisions and usually cost the family more in attorneys’ fees. In addition, a Trusts and Estate practitioner can alert a family to techniques designed to lower … [Read more...] about Common Mistakes in Estate Planning – IV
5 Things You Need to Know about Wills and Trusts
Estate planning can seem a little overwhelming to someone who is new to the concept. Knowing that the components that make up your estate plan will likely represent the most important set of legal documents you execute over the course of your life can be intimidating. Along with the need to make potentially life-altering decisions, you will also need to work with estate planning tools and strategies that are unfamiliar to you. Among the most basic of those tools is a Last Will and Testament and … [Read more...] about 5 Things You Need to Know about Wills and Trusts
Mistakes to Avoid in Your Estate Plan
Creating a well-thought-out estate plan is one of the best gifts you can give to yourself and to your loved ones. Unfortunately, however, it is easy to make mistakes when it comes to estate planning. A mistake can cost you, or your loved ones, a considerable amount of time and money. An Inglewood estate planning lawyer at Collins Law Firm discusses three estate planning mistakes you want to avoid making. Waiting to Plan. One of the biggest misconceptions when it comes to the need for … [Read more...] about Mistakes to Avoid in Your Estate Plan
How Will You Manage Your Property If You Are Incapacitated?
Estate planning typically focuses primarily on how assets will be distributed after death. While you undoubtedly want to make decisions about the distribution of your estate assets after you are gone, your estate plan should also address the possibility of the need to manage your assets while you are still here. Toward that end, a Los Angeles estate planning attorney at Collins Law Firm discusses alternatives for managing property when you are incapacitated. The Reality of Incapacity When … [Read more...] about How Will You Manage Your Property If You Are Incapacitated?
