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estate planning Archives

How the elective share works in California estates

Like most other states, California has provisions in its law that protect the spouse of a person who dies from getting disinherited, especially if it is the result of an accident or an oversight. Among other things, the law allows a spouse to take what is called the elective share.

Using the LLC as an estate planning tool

This blog has previously discussed how residents of the Fresno area might consider creating a limited liability company, or LLC, when forming a new business. The LLC offers attractive incentives to new entrepreneurs, including some tax benefits and, perhaps more importantly, legal protection of one's personal assets from claims in the event the business fails.

The difference between 'fair' and 'equal' when it comes to heirs

Parents of multiple children know that it doesn't take much to spark a fight between siblings. This can be especially true when it comes to how kids perceive the treatment they receive from parents. The phrases, "That's not fair!" and "But I'm older!" can be made more times than a parent could ever count.

Estate planning involves both creating and updating a plan

In today's fast-paced world, thinking about creating or updating an estate plan is likely a last priority for many busy Californians. In fact, one survey indicated that the average amount of time between updates made to estate plans was nearly 20 years. However, paying attention to estate planning is essential in order to protect one's assets in California down the road.

Too young to create an estate plan? Probably not.

The idea of estate planning might bring to mind a stuffy conference room with lawyers and a retirement-aged couple planning for the end of life. Creating something like a will, however, is not a stuffy and grim legal experience. It is a planning tool that can provide motivation, clarity and a sense of confidence among men and women of any age. 

Administering an estate? Don't forget digital details

If you are named as the administrator of an estate, you should be aware of the numerous tasks you will be required to manage and complete. Representatives are required to notify interested parties of a death, identify and locate assets and ensure they are distributed in accordance with the decedent's wishes.

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