If you are savvy about the importance of estate planning, you may have already taken steps to prepare for the time when you are no longer here. You may have a will signed and witnessed according to the laws of California. Perhaps you have designated your power of attorney and made an advanced directive to address any financial or health issues that may arise if you should become incapacitated. You may even have purchased a cemetery plot, arranged your funeral and ordered a headstone or urn vault.
Once you accept the position of executor or personal representative for a loved one's estate, you may not think about it much afterward. Of course, after your family member passes, you may find yourself thrust into a position of duty that requires you to carry out many tasks in order for the estate to close properly. The majority of the tasks will likely relate to the probate process.
Starting a business in California is a complex process, and there are many important decisions that you have to make in the beginning stages. One of these is determining which business entity is ideal for your situation. There are multiple factors that go into deciding the choice for you, and you may find it useful to seek help when making this decision.
You know the importance of planning your estate, but you may be at a loss about where to begin, especially if the family dynamic is less than ideal. If you have visions of your children fighting and litigating over your assets, you may be tempted to leave everything to charity and be done with it.
Individuals can utilize different tools when it comes to creating an estate plan. Most California residents have heard of wills, understand that they have benefits and commonly use them as part of their estate plans. Many people also know that trusts can work as useful tools, especially for parties who want to avoid the probate process or protect assets for future generations.
Have you caught yourself using the old adage about time flying more frequently these days? Perhaps you're a parent who describes a son's or daughter's growth spurts as blinks in time. Witnessing the growth of the business you created, launched and sustained through the years is likely similar in some ways. It's probably easy to think back to the time when your California business was a mere glimmer of a dream in your thoughts.
Many California residents choose to utilize revocable trusts in order to address some of their estate planning needs. You may have had a loved one who took such a route when creating an estate plan, and he or she may have named you as a beneficiary of the trust. Knowing that you stand to obtain assets from your loved one may have left you feeling pleased, but once you learned more about the terms of the trust, you could have felt concern.
You wouldn't be alone if you said you dislike having conversations regarding your own mortality. Many California residents no doubt share your views. However, if you are also one of many who understand the importance of executing a solid estate plan, you're probably willing to step outside your comfort zone to have the discussion. Many matters of estate are often complex and can be quite challenging to navigate if you're inexperienced in the process.
You may be one of the fortunate few whose children get along well as adults. For whatever reason, the siblings in your household grew to respect each other and remain friends, perhaps even best friends. However, this is not always the case, so if your children bicker and maintain childhood rivalries, you may feel comforted to know you are not alone.
Courtroom litigation can cover many different areas of law. For you, the area of concern that you may feel warrants legal action may involve the estate of a recently deceased loved one. Though you may have hoped that the wishes presented in your family member's estate plan would prevent any serious issues from affecting the closing of the estate, certain aspects of the process may have caused concern.