From budgeting apps to online legal forms, DIY tools are everywhere. But when it comes to estate planning, trying to handle everything yourself can come at a high cost. Even simple mistakes can lead to legal battles, tax issues, or unintended consequences for your loved ones. This article explores the real risks of going it alone and explains: How attorneys identify hidden problems and offer better-tailored options than online services. Why only a licensed attorney can provide legal advice, including the pros and cons of your choices. What really happens when a DIY estate plan goes wrong –…Read More
In this article, you can discover… How power of attorney differs from conservatorship. The impact of a conservator on your legal rights and freedom. Whether it is possible for you to contest conservatorship in California. What Is The Difference Between A Power Of Attorney And A Conservatorship? If estate planning has been done ahead of time, you most likely will have assigned an agent under power of attorney, a medical agent, and a trustee for your trust (if you have one). Alternatively, there are two types of conservatorships you could end up with: conservatorship of the estate and…Read More
Medical Emergencies And Unforeseen Events When planning for medical emergencies or unforeseen events in a trust, flexibility is key. You can’t predict future costs or know exactly what your estate will be worth when the time comes, so setting aside a fixed percentage or dollar amount isn’t always the best approach. Instead, it’s better to give the trustee discretion while also providing clear guidance on your intent. A well-drafted trust should make it clear that funds can be used for medical emergencies or other critical needs as they arise. At the same time, it should include instructions that…Read More
From home improvements to gardening, DIY is taking the world by storm, powered by catchy online videos and difficult economic times. That said, one area you might want to think twice before trying to do everything yourself is estate planning. This article will help explain why, including information about: The risks of using DIY estate planning tools like online templates. Estate planning mistakes you might make and their consequences. The value an estate planning attorney brings to the process in California. Are DIY Estate Planning Services Legally Valid In California? First things first, DIY estate planning services and…Read More
Funding A SNT Funding a Special Needs Trust means transferring assets into the trust to ensure they are properly managed and protected for the beneficiary. It’s a key step in making the trust effective. A trust does not automatically include all your assets. This is particularly important if you have multiple heirs such as one child with special needs and others without because you may have different trusts for different purposes. Typically, a revocable living trust is used for general estate planning, while a separate revocable special needs trust is created for a child with disabilities. This allows…Read More
Oh that dreaded word – taxes! We all know what a pain they are while you’re alive, but a court case that the U.S. Supreme Court recently declined to review has now established how much of a pain they can be after death! The case was decided in the 9th Circuit (which encompasses California) and is called United States v. Paulson. Since the U.S. Supreme Court declined review, it will be what everyone (including the IRS) relies on, unless and until there’s a future conflict between circuits and the U.S. Supreme Court picks it up. So, what bad…Read More
Recently (November 13th of last year) the Court of Appeal heard a case involving a handwritten amendment made to a trust. The initial trust left the family home to the three children in equal shares with the request that the children retain the property for at least 5 years after their mom’s death and if they ended up selling the property to please sell it to a family member. One year later, the mom (the “Trustor” in technical terms) wrote out a handwritten amendment to the trust on her own. She stated that her home was to go…Read More
In this article, you can discover… Reasons why it’s wise to plan ahead for incapacity. How conservatorship can impact your loved ones and personal freedom. How an experienced attorney can help you put secure estate plans in place. What Are The Risks Of Failing To Plan In Advance For Incapacity? By definition, being incapacitated means that you are no longer in a suitable state to make decisions for yourself. If you are a legal adult over the age of 18 who lives in California, your entire life could go on hold if you become incapacitated and have no…Read More
ABLE Accounts An ABLE account, short for Achieving a Better Life Experience, is a tax advantaged savings account designed for those with disabilities to save for expenses without affecting their eligibility for government benefits. These accounts were established under federal legislation but are administered at the state level. In California, they are referred to as CalABLE accounts. To be eligible, applicants must have a significant disability that began before their 26th birthday. Those over 26 can still open an account if their disability onset occurred before age 26. Efforts are ongoing to raise the age limit, but the…Read More
Unpacking Special Needs Trusts (SNTs) A Special Needs Trust (SNT) is a legal arrangement designed to preserve eligibility for government benefits while enhancing the quality of life for a beneficiary with special needs. If a person with special needs receives a direct inheritance or funds from a regular trust, those assets may be deemed countable resources by government agencies, potentially disqualifying them from essential benefits like Supplemental Security Income (SSI) or Medicaid. An SNT avoids this issue by holding the funds in a way that doesn’t count as the beneficiary’s direct asset. The trust terms dictate that the…Read More
