Estate Planning

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?

One of the primary reasons why most people create an estate plan is to ensure that their estate assets are distributed according to their wishes after they are gone. To achieve that goal, most people initially choose to use a Last Will and Testament. While a Will certainly does allow you to decide how your estate assets are distributed after your death, a Will is a rudimentary estate planning tool that has limited functionality. Consequently, you may wish to consider using a trust as your … [Read more...] about 5 Reasons to Use a Living Trust to Distribute Your Estate

For anyone who is new to estate planning, the prospect of creating an estate plan can be an intimidating one. The concepts, language, documents, and even some of the goals are unfamiliar. While every estate plan is unique, the Los Angeles estate planning attorneys at Collins Law Firm offer some common steps in the estate planning process to make the process a little less intimidating. Define your goals.  Before you can really get started with your estate plan you need to sit down and … [Read more...] about Steps in the Estate Planning Process

Given how popular trusts are within an estate plan, there is a very good chance that you will be directly involved with a trust at some point in your life. Trusts are broadly divided into testamentary and living trusts with the latter being further divided into revocable and irrevocable living trusts. If you are faced with the desire to modify or terminate an irrevocable living trust you may assume that it cannot be done; however, that is not entirely true. A Crenshaw trust attorney at Collins … [Read more...] about Can an Irrevocable Trust Be Modified?

Although most people acknowledge the need for a comprehensive estate plan, over half of all Americans do not have one. One of the reasons given for this is the simple fact that estate planning is somewhat intimidating for the average person given the fact that they have no reason to know much about it. The good news is that with an experienced estate planning attorney by your side, you will have someone to explain things to you and guide you through the process. There are, however, several … [Read more...] about How to Do Your Part When Estate Planning

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 are a Last Will and Testament and … [Read more...] about What You Need to Know about Wills and Trusts