Estate Planning

Trusts allow you to avoid probate, minimize taxes, provide organization, maintain control, and provide for yourself and your heirs. In its most simple terms, a trust is a book of instructions wherein you tell your people what to do, when. While there are many types of trusts, the major distinction between trusts is whether they are revocable or irrevocable. Let’s take a look at both so you’ll...

Confused about the differences between wills and trusts? If so, you’re not alone. While it’s always wise to contact experts like us, it’s also important to understand the basics. Here’s a quick and simple reference guide: What Revocable Living Trusts Can Do – That Wills Can’t ● Avoid a conservatorship and guardianship. A revocable living trust allows you to authorize your spouse, partner,...

Most people understand that having some sort of an estate plan is, as Martha Stewart would say, a “good thing.” However, many of us don’t take the steps to get that estate plan in place because we don’t understand the nuances between wills and trusts – and dying without either. Here’s what will generally happen if you die, intestate (without a will or trust), with a will, and with a trust. For...

Top 3 Reasons To Avoid Probate (And Why You Should Consult With An Orange County Estate Planning Attorney Today) If you live in California, and your assets are subject to probate, your heirs will be in for a few (unpleasant) surprises. Without a proper estate plan in place, when you pass away your family will likely have to visit a probate court in order to claim their inheritance. This can...

3 Celebrity Estate Planning Disasters With extreme wealth accumulated, one would assume that celebrities would take the necessary steps to protect their estates. But think again: Some of the world’s richest and most famous celebrities enter the pearly gates with no estate plan in place.  Others have made estate planning mistakes that tied their fortunes and heirs up for years in court.   An...