The goal of an estate plan is to avoid the probate process or litigating ambiguities in court. The litigation costs will substantially decrease the value of your estate, thus reducing the amount to your beneficiaries.
What Makes Up An Estate Plan? A comprehensive estate plan includes a revocable trust, a pour-over will, a power of attorney for health care decisions, a power of attorney for financial decisions, and proper trust funding. Be wary of cheap, boilerplate estate plans or plans…Continue reading
The death of a beloved family member or friend is emotionally devastating and particularly complicated if they died owning property and did not create a trust.
Whether a person died with a will (testate) or without a will (intestate) his or her estate must go through probate in order to legally transfer the assets to the beneficiaries or heirs. California recognizes a narrow exception to probate where the total estate’s value…Continue reading
A conservatorship is an option that legally authorizes a protector, who is known as the conservator, to make medical and financial decisions for another person, who is referred to as a conservatee, when they cannot make their own decisions because of a mental or physical impairment.
Who is a Conservator? A conservator ensures that the conservatee’s physical needs are being saitsfied. The conservator may also manage the conservatee’s property. All decisions whether medical or financial are subject to court supervision and approval. Ordinarily, a conservator is a family member or a friend, and in some…Continue reading
noun | \'paŭ(-ə)r\ | [pow-er]
Legal ability, capacity, or authority.