Estate planning is rarely considered a pleasant topic. No one wants to think about what to do with their properties and assets after their death. But it can be a reassuring experience from at least one perspective. Solid estate plans offer a payoff to relatives,...
estate planning
Here’s why you should consider a living trust
Even if you assume that your estate plan is complete, it never hurts to learn more about the many ways you can improve it. For example, the addition of a living trust could benefit you, your loved ones and your assets in a variety of ways.Here are four reasons why you...
How to start an estate planning conversation with your parents
The time has come. You realize that you need to discuss estate planning with your elderly parents. No one wants to have this conversation, but you realize that it's the responsible thing to do.But there's a problem. You don't have the first clue as to how to approach...
Are you protected against these estate planning mistakes?
Most people don't consider estate planning an exciting activity. In fact, they'll do anything to avoid thinking about it.This approach can result in a variety of estate planning mistakes. Some of these include: Not having an estate plan: If you continually put estate...
WHY MIGHT I WANT TO HOLD AN ESTATE SALE?
As any California resident can tell you, it is never easy to deal with the emotional and legal aftermath of a loved one's death. You may gain an inheritance after your parents pass on, which first goes through the probate process. You may be glad to receive cherished...
WHERE’S THE SAFEST PLACE TO PUT YOUR WILL?
After going through the trouble of getting all your wishes down on paper, it's important to store your will in a place that is both accessible and safe. How can you ensure that your will doesn't end up in the wrong hands or lost?Here are a few of the safest places to...
WHY SHOULD NEW PARENTS CONSIDER ESTATE PLANNING?
If you and your spouse or partner recently welcomed a new child into your California household, likely the last thing on your mind is estate planning. Nevertheless, you should not overlook this very important aspect of new parenthood.As reported in Kiplinger, you and...
Do my step children have inheritance rights?
If an unforeseen accident takes your life, your estate should be left to your family to settle. However, this process may not be as clear for blended families. In fact, without certain provisions, some family members could be completely excluded from the probate...
2 effective methods of reducing estate tax
For most people across California, one of their main objectives when working on their estate plans involves figuring out how to leave as much of the wealth they have amassed behind for their loved ones as possible. At the Law Office of Stephen W. Penn and Associates,...
What is a generation-skipping trust?
As a reasonably well-to-do Californian, you likely want to pass your estate down through your family in the most advantageous ways possible. If you have not yet considered one or more generation-skipping trusts as vehicles by which to do this, you may wish to educate...