Horizon Elder Law & Estate Planning Blog

The death of a parent is never easy. Not only are you left to deal with the highly emotional toll that such a loss can take, but also you are left to deal with their estate. And while you want to do right by them, it can get pretty confusing quite quickly. This is especially true if it goes to probate.

Probate is the settling of an individual’s estate by a court-appointed executor.
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Estate planning can be challenging for some families who have unique situations that require special estate planning tools or comprehensive estate planning to address certain issues. A blended or merged family can sometimes create estate planning difficulties. Parents with minor children from previous marriages and couples who marry later in life with adult children from prior relationships may struggle with estate planning decisions that protect and provide for all family members. A
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Discussing issues related to end-of-life health care, personal care, and property protection can be emotional and stressful. However, conversations related to these issues are necessary to protect the individual and the family. Without certain end-of-life documents, the state or the courts may step in to make personal decisions for you and your family members. A Read more . . .

Planning for retirement can be tricky. It is impossible to know the future; therefore, you cannot know for sure if you or your spouse may need long-term care. While there are a few factors that might give you an indication of whether you might be at risk of needing long-term care, you are taking a gamble if you assume you will not need nursing home care or other long-term care. A Read more . . .

Nursing homes can be expensive, causing a lot of people to forgo the expense. What many people do not know is that there could be another option: Medicaid.
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There are several things that every will should include, such as the name of your personal representative, guardian for minor children, names of heirs, and directions for dividing assets among heirs. However, several items should not appear in a will. If you have questions about what should and should not be included in your will, a California estate planning attorney can answer questions and explain California’s estate laws.

Seven Things That Should Not Be in Your Will

1. Property held by a trust

Property held by a trust passes directly to beneficiaries outside of your estate.
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People often find that estate planning is complicated and confusing. It is not difficult to understand why estate planning for same-sex couples can seem even more complex regardless of whether or not you are married. Luckily, estate planning for same-sex couples doesn’t have to be overwhelming or difficult to understand. With the law constantly changing, it’s to consult with a California estate planning attorney with experience in estate planning for the LGBTQ community. 

Same-Sex Couples See Same Rights

Before 2015 when the United States Supreme Court upheld the rights of same-sex couples to marry in every state, estate planning for same-sex couples was deemed difficult to understand.
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Have you taken steps to lower the taxable value of your probate estate? Are you working with a California estate planning attorney to ensure that your heirs will not incur substantial taxes or debts when they inherit your assets after death? If so, you may want to discuss an Irrevocable Life Insurance Trust (ILIT) with your attorney, especially if you have taken all steps to avoid estate taxes, but you still need additional methods of providing a legacy for your loved ones without creating a tax burden for them.

How Can an Irrevocable Life Insurance Trust Benefit My Heirs?

Your Irrevocable Life Insurance Trust (ILIT) is a separate entity that holds ownership of one or more life insurance policies. The ILIT is also the beneficiary for the life insurance policies. Upon your death, the trust receives the proceeds from the policies. The trustee disburses the funds to the trust beneficiaries according to the terms of the trust.
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There are several things that every will should include, such as the name of your personal representative, guardian for minor children, names of heirs, and directions for dividing assets among heirs. However, several items should not appear in a will. If you have questions about what should and should not be included in your will, a California estate planning attorney can answer questions and explain California’s estate laws.

7 Things That Should Not Be in Your Will

1.  Property held by a trust

Property held by a trust passes directly to beneficiaries outside of your estate.
Read more . . .

A Do Not Resuscitate (DNR) order is a health care form that gives an individual control over some of the medical procedures emergency medical services (EMS) providers may perform. Some people may believe that a DNR order covers all end-of-life medical decisions, but this is incorrect. Consulting a Read more . . .

Life insurance offers financial protection for your heirs in the event of your death. However, purchasing life insurance may not make sense for everyone. Before you begin researching the pros and cons of the various types of life insurance policies available and the cost of life insurance, you may want to review whether or not you need life insurance coverage with your Read more . . .