Estate planning is not something that you start thinking about when you are in your 70s. As soon as you have people relying on you, you have a responsibility to ease the burden if the unthinkable takes place. Precautionary estate planning can provide peace of mind, and it is not as complicated as many people think. Added Responsibilities Every self-supporting adult should have an estate planning place in a perfect world. At the same time, in fairness, if you are a very young adult in your … [Read more...] about Secure Your Family’s Future with Proactive Estate Planning
Estate Planning
Don’t Let These Blunders Tarnish Your Legacy Plan
Families sometimes seek legal assistance because they are looking for damage control after a loved one has passed away. Legacy plan mistakes were made, and the surviving family members were forced to deal with difficult circumstances. These situations are frustrating because they could have been avoided if the decedent had received the right guidance. With this in mind, we will look at some of the legacy plan mistakes that can be made in this post. DIY Estate Planning There have been many … [Read more...] about Don’t Let These Blunders Tarnish Your Legacy Plan
Spotlight: Attorney John Sweeney Illuminates Inequities in LA Real Estate: Bridging Past Biases to Secure Future Legacies
On March 28th the Inglewood Board of Realtor Annual Installation at the Proud Bird. Attorney John Sweeney gave the keynote address highlighting systemic bias in LA's real estate development, focusing on historic discriminatory practices like restrictive covenants. These barriers, though legally removed, still hinder African American communities. Attorney Sweeney's discourse extends to contemporary challenges like Proposition 19, discussed with Attorney Collins. Prop 19 underscores the threat … [Read more...] about Spotlight: Attorney John Sweeney Illuminates Inequities in LA Real Estate: Bridging Past Biases to Secure Future Legacies
10 Vital Estate Planning Insights
Estate planning is a critical task that ensures your assets are managed and distributed as you wish after your death. It's a process that involves preparation, understanding, and, often, professional advice. Whether you're just starting or revising your plan, here are ten essential estate planning insights everyone should know about. 1.) Estate Planning Isn't Just for the Wealthy It's a common misconception that estate planning is only for the wealthy. In reality, everyone should have a plan … [Read more...] about 10 Vital Estate Planning Insights
Incentive Trust Benefits: Real-World Case Studies
Estate planning offers various tools to help you secure your family's future. One such tool, often overlooked, is the incentive trust. This type of trust can motivate your beneficiaries in unique and meaningful ways. In this blog, we’ll dive into the benefits of an incentive trust and explore some case studies that illustrate its utility. What Is an Incentive Trust? An incentive trust is a legal arrangement that provides financial benefits to its beneficiaries based on specific conditions. … [Read more...] about Incentive Trust Benefits: Real-World Case Studies
Can You Draw Up Your Own Will By Hand?
Since so many people go through life without any estate planning documents, some folks finally decide to take the matter into their own hands, quite literally. About 11 years ago, there was an interesting story circulating about a couple of handwritten wills, and we will revisit it here. Thomas Kinkade Thomas Kinkade was a successful artist that called himself the “Painter of Light.” He was quite prolific, and he made a lot of money, but he was also a prolific imbiber of alcohol. In 2012, … [Read more...] about Can You Draw Up Your Own Will By Hand?
The Horrors of Dying Intestate
Many souls believe that if they lack means, they do not need an Estate Plan. Nothing could be further from the truth. If you die without an Estate Plan, it’s like opting for a trick on Halloween and the results of both can be downright scary. Read on to learn more. … [Read more...] about The Horrors of Dying Intestate
The Anatomy of a Basic Estate Plan
There are different approaches that can be taken when you are planning your estate, and this is why you should work with an attorney to create a custom-crafted plan. This being stated, there are some standard components that make up the basic framework. In an effort to provide you with a starting point, we will share an outline of a basic estate plan in this post. Asset Transfers The facilitation of postmortem asset transfers is at the core of the estate planning process. Everyone has heard … [Read more...] about The Anatomy of a Basic Estate Plan
10 Steps to Take after Receiving a Terminal Diagnosis
Learning you have a terminal illness or condition may cause a variety of emotional reactions, making it difficult to think about practical steps you should take. There are, however, some things you should do to protect yourself and your loved ones. With that in mind, a Los Angeles estate planning attorney at Collins Law Firm explains 10 steps to take after receiving a terminal diagnosis. Terminal Diagnosis Steps Contact Los Angeles Estate Planning Lawyers For more … [Read more...] about 10 Steps to Take after Receiving a Terminal Diagnosis
Should I Share the Details of My Estate Plan?
If you have an estate plan in place, you already recognize the numerous benefits an estate plan offers. Once your plan is in place, however, you may struggle with deciding how much (if any) of the details of that plan to share with beneficiaries and heirs of your estate. Ultimately, it is a very personal decision; however, the Los Angeles estate planning attorneys at Collins Law Firm offer some things to consider when deciding whether to share the details of your estate plan. Reasons to … [Read more...] about Should I Share the Details of My Estate Plan?
