In many families, money matters are not typical dinner table discussion, but I think it should be. This is especially true when it comes to affluent parents. And, I hope this changes because one of the most important things you can do is talk to your kids (and your parents) about money. According to the […]
https://www.calilaw.com/wp-content/uploads/2019/08/family-91024.jpg12001800CaliLawhttps://www.calilaw.com/wp-content/uploads/2023/04/Cali-Law-Logo-A5-1-300x99.jpgCaliLaw2020-02-19 21:48:222020-02-19 21:48:27Money Talk: How Much Will You Share with Your Kids (and When)?
A last will and testament can ensure your wishes are respected when you die. But if your will isn’t legally valid, those wishes might not actually be carried out, and instead the laws of “intestate succession” would apply, meaning that the state decides who gets your stuff, and it’s very likely not to be who […]
https://www.calilaw.com/wp-content/uploads/2020/02/91024.png475947CaliLawhttps://www.calilaw.com/wp-content/uploads/2023/04/Cali-Law-Logo-A5-1-300x99.jpgCaliLaw2020-02-13 19:33:352020-02-13 19:33:38False Security: Is Your Will Legally Valid?
As you no doubt already know, on January 26, 2020, basketball legend Kobe Bryant was killed in a helicopter crash on a wooded hillside 30 miles north of Los Angeles. Also killed in the tragic accident was his 13-year-old daughter Gianna, and seven other passengers who were friends and colleagues of Kobe and his family. […]
https://www.calilaw.com/wp-content/uploads/2020/02/BBZvPq0.jpg405720CaliLawhttps://www.calilaw.com/wp-content/uploads/2023/04/Cali-Law-Logo-A5-1-300x99.jpgCaliLaw2020-02-06 20:10:412020-02-06 20:10:42Kobe Bryant’s Untimely Death Highlights the Vital Need for Estate Planning at All Ages
If your child requires or is likely to require governmental assistance to meet their basic needs, do not leave money directly to your child. Instead, establish a Special Needs Trust. A trust that is not designed with your child’s special needs in mind will probably render your child ineligible for essential benefits. A Special Needs […]
https://www.calilaw.com/wp-content/uploads/2020/01/special-needs-child-91024.jpg520780Marc Garletthttps://www.calilaw.com/wp-content/uploads/2023/04/Cali-Law-Logo-A5-1-300x99.jpgMarc Garlett2020-01-31 20:31:362020-01-31 20:32:46How to Protect an Inheritance for Your Special Needs Child
Both wills and trusts are estate planning documents that can be used to pass your wealth and property to your loved ones upon your death. However, trusts come with some distinct advantages over wills that you should consider when creating your plan. That said, when comparing the two planning tools, you won’t necessarily be choosing […]
https://www.calilaw.com/wp-content/uploads/2020/01/wills-vs-trust-signs-91024.jpg375500CaliLawhttps://www.calilaw.com/wp-content/uploads/2023/04/Cali-Law-Logo-A5-1-300x99.jpgCaliLaw2020-01-24 18:03:252020-01-24 18:03:274 Things Trusts Can Do That Wills Can’t
On January 1, 2020, the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) went into effect, and it could have big implications for both your retirement and estate planning strategies—and not all of them are positive. Last week, I gave you a general overview of the SECURE Act’s most impactful provisions. Under the […]
Money Talk: How Much Will You Share with Your Kids (and When)?
Asset Protection, Beneficiaries, Estate Planning, Estate Planning Blog, Family, Inheritance, ParentsIn many families, money matters are not typical dinner table discussion, but I think it should be. This is especially true when it comes to affluent parents. And, I hope this changes because one of the most important things you can do is talk to your kids (and your parents) about money. According to the […]
False Security: Is Your Will Legally Valid?
Estate Planning, Estate Planning Blog, Gifting, Inheritance, Trusts, Wills, Wills vs. TrustsA last will and testament can ensure your wishes are respected when you die. But if your will isn’t legally valid, those wishes might not actually be carried out, and instead the laws of “intestate succession” would apply, meaning that the state decides who gets your stuff, and it’s very likely not to be who […]
Kobe Bryant’s Untimely Death Highlights the Vital Need for Estate Planning at All Ages
End of Life, Estate Planning, Estate Planning Blog, Family, Legacy Planning, Parents, TrustsAs you no doubt already know, on January 26, 2020, basketball legend Kobe Bryant was killed in a helicopter crash on a wooded hillside 30 miles north of Los Angeles. Also killed in the tragic accident was his 13-year-old daughter Gianna, and seven other passengers who were friends and colleagues of Kobe and his family. […]
How to Protect an Inheritance for Your Special Needs Child
Education, Estate Planning, Estate Planning Blog, Family, Family Values, Kids Protection Planning, Parents, Special Needs Children, Trusts, WillsIf your child requires or is likely to require governmental assistance to meet their basic needs, do not leave money directly to your child. Instead, establish a Special Needs Trust. A trust that is not designed with your child’s special needs in mind will probably render your child ineligible for essential benefits. A Special Needs […]
4 Things Trusts Can Do That Wills Can’t
Beneficiaries, Common Mistakes, Education, Estate Planning, Estate Planning Blog, Legacy Planning, Trusts, Wills, Wills vs. TrustsBoth wills and trusts are estate planning documents that can be used to pass your wealth and property to your loved ones upon your death. However, trusts come with some distinct advantages over wills that you should consider when creating your plan. That said, when comparing the two planning tools, you won’t necessarily be choosing […]
The SECURE Act’s Impact on Estate and Retirement Planning
Asset Protection, Beneficiaries, Estate Planning, Estate Planning Blog, Inheritance, Retirement, TrustsOn January 1, 2020, the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) went into effect, and it could have big implications for both your retirement and estate planning strategies—and not all of them are positive. Last week, I gave you a general overview of the SECURE Act’s most impactful provisions. Under the […]