When you create your estate plan, one task you must complete involves naming an executor. This person is responsible for following the directions and the wishes outlined in your will. According to Forbes, your executor will distribute your assets to named...
A will is the foundation of your estate plan. This document outlines what you want to happen to your assets after you die. According to the CDC Foundation, your will is also where you nominate the executor for your estate and the legal guardian for your dependents....
When a loved one passes away, their beneficiaries attend probate court to witness the validation of the deceased's will and oversee the distribution of the estate. Probate can be a lengthy or even burdensome affair, creating the perception that the process is...
There are many reasons for considering a trust as part of your estate plan. Depending on the amount of control you need, you could choose either a revocable or irrevocable trust. Here are the benefits and drawbacks of each. Revocable trust A revocable trust acts as a...
Even if you have never planned one yourself, you probably understand that putting together a funeral can be a time-consuming and expensive proposition. Indeed, according to the Zebra, Californians spend an average of almost $7,300 for funerals that include burials. If...
A limited conservatorship refers to a legal proceeding in which a judge appoints an individual to care, and make decisions, for a developmentally disabled adult. The appointed individual is the conservator, and the adult with the disability is the conservatee. There...
When you open certain types of retirement, life insurance or other financial accounts in California, you typically have to name someone as a beneficiary of those accounts. That way, the party you designate receives the contents from the accounts when you die. However,...
Dependents with permanent disabilities and special needs often qualify for government support such as medical insurance and financial assistance. However, coming into a large sum of money from an inheritance might jeopardize this funding. Knowing when to consider a...
Many California residents neglect to create estate plans, citing similar reasons for failing to do so. Some say they do not create estate plans because they feel they do not have enough assets to warrant one. Others neglect to put plans in place because they do not...
The probate process occurs after your death. It is a court case that will handle various issues or tasks involved in closing your estate. To guide the process on your behalf, you will either have an executor or an administrator. These roles are exactly the same, but...
