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The Basics of Creating an Estate Plan
A person’s estate consists of all the personal belongings, assets, business holdings, and financial resources an individual owns. An estate can include real property, chattel, possessions, investments, interests in a corporation, rites from a laws suit or structured settlement, or funds in the person’s name, held in partnerships or joint ventures, through a trust, or joint ownership arrangement.
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Estate planning information is vital to anyone making arrangements to bequeath their estate to the heirs. An estate-planning lawyer can provide vital estate planning information to help an estate owner discern local inheritance laws in any particular jurisdiction and maximize the amount of the estate that will pass to the beneficiaries.
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Creating a Last Will and Testament and a Living Will is one of the most important things any individual can do for his/her family and heirs. A Last Will and Testament legally authorizes the wishes of the creator, the testator, to be committed for execution upon his/her death. A Living Will legally speaks for a person who cannot speak for him/herself because of a catastrophic health condition or trauma that might leave the person incapacitated.
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An estate planning trust or a trust is a financial vehicle created by a grantor for the benefit of the beneficiaries named in the trust. The trust can hold property, assets, or funds donated by the grantor. The estate planning trust and any holdings within it is managed by a trustee. The trustee can be a trust company, bank, individual, or group designated by the grantor. The trustee can al
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Overview of the probate process.
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Recent Legislative Changes Affecting Probate
This article summarizes recent legal changes that have a bearing on probate proceedings in California.
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Estate planning and intestacy refer to two different aspects of financial planning. Proper estate planning includes making an appropriate Last Will and Testament that includes the entire of estate of the grantor or estate owner for proper distribution among the heirs or beneficiaries of the estate. If an estate owner dies with a proper Last Will and Testament in place he/she is said to have died testate. If the estate owner failed to create a Last Will and Testament before dying, he/she is said to have died intestate. If the owner of an estate dies but his/her Last Will and Testament do
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Estate Planning for (Very) Young Adults
Most 18-year-olds have a lot on their mind, but estate planning in Orange County is typically not one of those things.
