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July 2012 Archives

7 Reasons to Change Your California Will

Current research shows that only about 25 percent of Americans have a will, and probably less than that have changed their will when certain life circumstances dictate that a change is in order. An Irvine estate planning attorney says there are several common occurrences that can trigger a change to your California will:

Estate Planning Strategies for the Single Boomer

According to the U.S. Census Bureau, the number of singles aged 50 to 64 increased significantly from 2000 to 2010, due to the increase in late life divorces as well as an increase in the number of people who never marry or remarry. An Irvine estate planning attorney notes that financial and estate planning strategies differ for single people in middle age, and provides these tips:

Two Conversations You Need to Have With Elderly Parents

A 2007 study by Princeton, Harvard and Federal Reserve researchers indicated that financial decision-making ability begins to decline in our mid-50s; however, many people have a difficult time discussing important financial matters with aging parents, even though they believe doing so is important.

Top 5 Reasons You Need Help To Draft a California Will

The Internet has made it easier than ever to do many things that we used to hire professionals to do, and one of the most popular options has been using an online form service to create a will. But when it comes to executing this important legal document, what you don't know can hurt you - and prove costly to your heirs.

Top 10 Considerations in Drafting a California Will

A California will is a crucial document that spells out your wishes for the disposition of your assets - and once you are gone, family members cannot go back and "fix" a will that has been executed improperly. This is why it is critical to have a California will prepared by a qualified California estate planning attorney, who can ensure that all the proper formalities have been followed.

The Fundamental Building Blocks of a California Estate Plan

In uncertain economic times, it is more important than ever to design an estate plan that allows you to not only protect and build upon what you have, but to also keep others from fighting over assets after you're gone. The fundamentals of creating a solid estate plan include:

Irvine Estate Planning Lawyer Explains Rules for Inherited IRAs

The IRS recently announced that it was stepping up its enforcement of penalties assessed against taxpayers who make mistakes with their IRAs. If you inherit an IRA, you need to take specific actions within a certain timeframe or risk harsh penalties, so consulting with an Irvine estate planning attorney about your inherited IRA options is highly recommended.

Who is Responsible for Paying Debts After Death in California?

Are you wondering who is responsible for paying your debts after you die, or if you will be responsible for a loved one's debts after they pass? This is not an uncommon concern, and aggressive debt collectors can take advantage of you or your loved ones if you are uninformed about who is responsible for debts after death.

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