Estate Planning

Estate administration is something that your heirs or executors will have to deal with in the event of your passing. Below, we discuss how this is handled and we answer the question of "Who will administer my estate if my executor cannot?" When you create your Last Will and Testament, one of the most important decisions you will need to make is the appointment of an Executor. Your Executor oversees the probate of your estate after your death, meaning he/she will be responsible for securing, … [Read more...] about Who Will Administer My Estate If My Executor Cannot Serve?

Having at least a basic estate plan in place should be a priority for every adult; however, when you become a parent, estate planning takes on heightened importance. Knowing that your children will be financially secure in the event something happens to you provides you with invaluable peace of mind. When creating your estate plan, you will need to decide how to pass down the inheritance you plan to leave your children. An Estate Planning Attorney at The Collins Law Firm helps parents with minor … [Read more...] about How to Leave Assets for Your Minor Children in Your Estate Plan

As you undoubtedly realize, having an estate plan in place is one of the best gifts you can give to yourself and to your loved ones. Having never worked on an estate plan before, however, you may feel a little intimidated about your upcoming appointment. To help put you at ease, and to make the most out of your appointment, the Estate Planning Lawyers at the Collins Law Firm offer you the following tips on preparing for your upcoming consultation. Defining Goals When you think about estate … [Read more...] about 5 Things to Consider When Creating Your Estate Plan

If you are married, one of your Estate Planning goals may be to ensure that ownership of real property transfers seamlessly from you to your spouse upon your death. To achieve that goal, you may wonder if you can simply use Joint Tenancy until one spouse dies and then set up a trust for the survivor. A better understanding of both the California Joint Tenancy laws and how a trust works may help you decide if such a set up works for your Estate Plan. Joint Tenancy in California Almost any … [Read more...] about How to Use a Trust with Joint Tenancy

For many people, tax avoidance is a primary estate planning goal. If you are among them, and you are married, you may wish to consider incorporating an AB trust into your estate plan. For those who are unfamiliar with the concept, our team of trust attorneys explains the basic fundamentals of an AB trust. Why Tax Avoidance Is an Important Estate Planning Goal Historically, an AB trust was used as an estate planning tool to maximize federal and state exemptions to gift and estate taxes. The … [Read more...] about What Is an AB Trust?