Choosing the Right Executor from Collins Law Group One of the most common estate planning mistakes people make is not taking the time to choose the right person as the Executor of their estate. Instead, they simply appoint someone close to them, such as a spouse, close friend, or family member. Often, this person lacks the experience, skills, and even willingness to serve as the Executor. Learn more about choosing the right executor in this presentation. … [Read more...] about Choosing the Right Executor
What Are Advance Directives for Health Care from Collins Law Group Though it is not an advance directive for health care, your incapacity plan should also include a durable financial power of attorney. This agent would be empowered to handle your finances if you ever become incapacitated. Learn more about advance directives in this presentation. … [Read more...] about What Are Advance Directives for Health Care
Incapacity Planning from Collins Law Group Alzheimer’s, and other age related dementia diseases, are the most common cause of incapacity in the elderly. If you are in your working years, incapacity could be the result of a tragic work place injury, a catastrophic motor vehicle accident, or a debilitating illness. Learn more about incapacity planning in this presentation. … [Read more...] about Incapacity Planning
Trust Administration: Choosing the Right Trustee from Collins Law Group Any mentally competent adult who is willing to assume the role can legally act as a living trust trustee. The trustee could also be empowered to manage the trust if you become incapacitated late in life. Learn more about trust administration in this presentation. … [Read more...] about Trust Administration: Choosing the Right Trustee
Everything You Need to Know About Estate Taxes from Collins Law Group As long as the people involved are American citizens, this deduction can be used to facilitate unlimited tax-free transfers between spouses. Due to a relatively recent Supreme Court ruling, this deduction is afforded to all legally married couples, regardless of sexual orientation. Learn more about estate taxes in this presentation. … [Read more...] about Everything You Need to Know About Estate Taxes
What are the Drawbacks of Probate from Collins Law Group The court charges a filing fee, and there can be legal fees, accounting expenses, and the executor's remuneration, When you add in other miscellaneous expenses, a significant amount of money can be lost during probate. Learn more about the drawbacks of probate in California in this presentation. … [Read more...] about What are the Drawbacks of Probate
What is-a-living-will from Collins Law Group If you do not have a living will in place, your closest relative would be asked to make this decision. Different family members may have different ideas about the correct course of action. Learn more about living will in California in this presentation. … [Read more...] about What Is A Living Will
What Is California Revocable Living Trust from Collins Law Group A last will can seem like the best choice for you if your estate situation is not overly complicated. In fact, in many cases, a revocable living trust would be a better alternative. Learn more about California revocable living trust in this presentation. … [Read more...] about What Is a California Revocable Living Trust?
Is There a Medi-Cal Asset Limit in California from Collins Law Group Medi-Cal is a program that is only available to people with financial need. As a result, there is a limit on countable assets. Learn more about the Medi-Cal asset limit in California in this presentation. … [Read more...] about Is There a Medi-Cal Asset Limit in California?
How Much Can You Transfer Free of the Estate Tax? from Collins Law Group Leaving someone an inheritance is like giving a gift. Giving is generally considered to be a good deed. However, if you leave significant inheritances to your loved ones, there may be a price to pay. … [Read more...] about How Much Can You Transfer Free of the Estate Tax?