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 Los Angeles inheritance planning attorney at Collins Law Group explains when and why you need to start inheritance … [Read more...] about Debunking Inheritance Planning Myths
A Power of Attorney is one of the most commonly used of all legal documents. A Power of Attorney (POA) is also frequently used as an estate planning tool. When properly drafted and used as intended, a POA can be an excellent addition to your estate plan. Given the potential authority you give to someone when you execute a POA, however, it is imperative that you have a clear understanding of all the terms in any POA you execute. As a Los Angeles estate planning attorney at Collins Law Firm … [Read more...] about Power of Attorney Problems — Gifts
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 Los Angeles estate planning attorney at Collins Law Group explains the right way to disinherit an heir. Who Are My Heirs? If it is important to you to be the one to determine what happens to your assets after you are … [Read more...] about The Right Way to Disinherit an Heir
There are all sorts of formalities to an estate plan. Does that mean you can’t change anything by yourself? Read on to learn how your estate plan, if done properly, can give you the flexibility to make changes by yourself as to certain assets. Read on to learn more. … [Read more...] about Building Flexibility into Your Plan
More and more families own property, assets, and businesses together. Using an entity to govern operations provides stability by allowing continued operation upon the death of an owner. When the governing agreement and estate planning documents of a deceased owner conflict, unintended, potentially litigious, results occur. Read on to learn more. … [Read more...] about Using Entities in Estate Planning
For the average person, estate planning can appear somewhat intimidating given the fact that most of the terms and concepts are only used in the estate planning context. In fact, one of the most common reasons people give for not having an estate plan in place is that they don’t know where to start. The best way to g started with your estate plan, and to get specific questions answered, is to consult with an experienced estate planning attorney. In the meantime, however, a Los Angeles estate … [Read more...] about Collins Law Group Answers 5 Common Estate Planning Questions
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
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
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?
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?