If you are presently going through or have recently been through a divorce, there are probably many things on your mind. However, you don’t want to let estate planning changes slip through the cracks. Here are a couple of important changes to make following a divorce.
- Beneficiary changes – There are some accounts that do not go through probate. For example, if your mate was listed as the beneficiary of your retirement account, life insurance policy, or a payable on death (POD) bank account, you need to change the beneficiary if you want someone other than your ex to get the money.
- Factor in children if you remarry – If you end up remarrying in the future, you don’t want any children from the first marriage to get left out. Therefore, you may need to add the children from your first marriage directly to the will or a trust. Otherwise, if you remarry and forget to adjust your estate plan, you may end up leaving everything to your second mate and their children rather than children you had with a previous mate.
Navigating Estate Planning Laws in San Diego, California
To help you get your estate planning just right so that your assets are left to the people you want to give them to, be sure to seek the assistance of the estate planning attorneys at Petrov Law Firm. Call 619-344-0360 today to schedule a consultation with one of our experienced California attorneys.Read More
Probate court isn’t always a bad thing, but it can sometimes mean that your heirs will have to wait a while to get their inheritance. It can also be expensive since creditors may get their share and the courts will, of course, take a cut for fees. So how can you use your bank accounts to avoid probate? Here are a couple of ways.
- Payable on Death (POD) Accounts – If you make your bank account payable on death to a specific beneficiary, then you cut out the middleman and get your money directly to the heir. The only negative is that you will need to change the name of the beneficiary right away if you have a change of circumstances or just want someone else to get the money.
- Joint Savings or Checking Accounts – If someone else’s name is on your bank account with you, then they can continue to use the account as usual when you pass. The money is already theirs in the eyes of the bank anyway since the account is shared. This is an easy way to leave funds to someone who you trust not to take anything from you while you are alive.
California Estate Planning Attorneys
If you need help planning for your estate in the state of California, the experienced attorneys at Petrov Law Firm can help. To schedule a consultation, give our San Diego office a call today at 619-344-0360. We look forward to helping you plan ahead for the future of your family.Read More
This is an important question to answer because you need to know if you are going to be responsible for your medical bills and any work you may miss or if you are eligible to receive some compensation to help you out financially while recovering from your injury. Here are a few factors to consider:
- Your safety is your own responsibility – That having been said, the store owner does have to provide reasonable care. The difference in opinion may be over what is considered reasonable.
- You need proof – Take photographic evidence at the scene, even if you aren’t sure anything will come from your injuries. If the store has injury report paperwork to fill out, do so. Get checked out by a doctor so you have a medical record of your injuries.
- Time usually has to pass to prove negligence – If the person walking in front of you drops a soda and you slip on it, that isn’t the store’s fault. If someone spilled a soda an hour ago and no one has bothered to clean it up, that makes a better case for you.
Get Legal Advice for Your Slip and Fall Injury Case
Before you sign any sort of settlement, be sure to contact Petrov Law Firm at 619-344-0360. The insurance company is going to want to pay as little as possible. Having an experienced personal injury lawyer on your side is the only way to ensure that you get the full compensation you deserve. Schedule a consultation today.Read More
If you have been in a car accident, you may be tempted to assume your injuries are not that bad and there is no reason to go to the doctor. However, there are a few things you should watch out for in the weeks and months following an accident that could indicate an injury occurred.
- Vertigo – Vertigo is a false sensation of movement. Most people say it feels like the room is spinning. This can be an indicator that you are suffering from post-concussion syndrome.
- Headaches or migraines – Another indicator of post-concussion syndrome, this symptom usually means that you suffered either head or neck trauma.
- Brain fog – Confusion, inability to focus, and short-term memory loss are all indicators of head or neck trauma.
- Insomnia – Difficulty sleeping can indicate post-concussion syndrome, although it may also be linked to post-traumatic stress, especially if you are also having nightmares about the accident.
- Irritability and mood swings – If may be your coworkers or family members who alert you to this symptom. Take it seriously because it can be yet another indicator that an injury has occurred.
Whether it is a few days, weeks, or even months after your car accident, be sure to head to your doctor if these symptoms arise.
Personal Injury Attorneys in San Diego, CA
If you have suffered an injury in a car accident, even if the symptoms didn’t display right away, you deserve compensation from the party at fault. To deal with car insurance companies that want to pay out as little as possible, you need the help of the experienced personal injury attorneys at Petrov Law Firm. Contact us today at 619-344-0360 to schedule a consultation.Read More
When you are planning for your estate, the people who come to mind are likely your relatives, and perhaps a charity that is dear to your heart. However, you may not have any close relatives, or at least not anyone you feel close to. What can you do then? Does California force you to leave your estate to blood relatives?
State Laws in Regard to Naming Beneficiaries
This question comes up because of certain European nations which have laws forcing heirship. In the US, such laws don’t exist on the federal level, and California has not done much to impose its own will on whom you may choose to name as an heir. There is only one primary exception.
When a couple holds an asset as a community property (e.g., you each own 50% of your home), you can only dictate who receives your portion of the asset, not the entire asset.
Can I Make My Beneficiary a Random Person?
Sure. While this is a rather unorthodox way to pass on your estate, you could technically look in the phone book and select names at random to place in your will. The main issue will come when your executor is trying to get in touch with these individuals. They may pass away before you, or they may have moved without you knowing, or they could potentially refuse to speak with the executor thinking the call is some kind of scam.
California Estate Planning Law Experts
Whether you want to pass on your inheritance to your closest blood relative, a charity, or even just a good friend, Petrov Law Firm can help. Contact our estate planning attorneys today at 619-344-0360 to schedule a consultation.Read More
At Petrov Law Firm, we see each of our clients as an individual. As a result, we help you to determine what is best of you and your beneficiaries. For some families, leaving a life insurance policy to a trust as a beneficiary is a good idea. Here are a few situations where this method works well:
- Your beneficiaries are minor children – If your kids are under 18, they won’t get your life insurance policy until they come of age anyway. Having the money go directly into a trust can allow a trustee to dispense some money to the children as needed such as for new outfits at the beginning of the school year.
- You want to avoid executor and court fees – If your estate ends up in probate court for any significant amount of time, a good portion of the assets can go toward court fees and executor expenses before your family sees any of it.
- You are concerned about the simultaneous death of yourself and your beneficiary – Let’s say the person you were going to name as your life insurance policy beneficiary is someone who is always traveling with you. What happens if you die together in some sort of travel-related accident? Having the money go into a trust is a good way to ensure it passes on to your other family members.
Personalized Estate Planning in San Diego, California
Let our professional estate planning attorneys help you to determine what methods will meet your family’s needs. Call 619-344-0360 to schedule a consultation today.Read More
In the US, there are about 90 million dogs in peoples’ homes as pets. So with that many dogs around people all of the time, you may not be surprised to find out that there are about 4.5 million dog bites each year. While most people do not require medical attention following a bite, about 1 in 5 will.
If you are bitten by a dog, here is a quick guide to getting the proper help:
- Acquire contact info from the owner. If you cannot verify that the dog has received the proper vaccinations, you will require rabies inoculation.
- Use soap and water to clean the bite area thoroughly. This will help to prevent an infection from occurring.
- If a serious injury has occurred and you cannot care for your own injuries or reach a medical facility on your own, call 911. For less serious injuries, you may call your doctor and ask for advice on whether a trip to the ER is needed.
- Contact the veterinarian who treats the dog directly. Don’t take the owner’s word for it that the pet is up to date on immunizations.
- Keep track of any medical bills you accrue or work you may have missed due to the injury and bring this information with you to your personal injury lawyer.
Dog Bite Attorney in San Diego, California
The attorneys at Petrov Law Firm are experts in the law when it comes to injuries due to dog attacks. If you have been injured by a dog bite, contact us today at 619-344-0360 to schedule a consultation.Read More
In California, compensation for motor vehicle accidents depends on fault. In most cases, it is easy to determine who is at fault in an accident if one driver was distracted or breaking the law and the other was not. However, there are other times when assigning fault is a little more complicated. For example, what if the accident was caused by road debris?
Road Hazards that can Cause an Accident
Here are a few examples of road hazards or debris that can contribute to a collision:
- Potholes – A driver may not see the pothole and could hit it, thereby damaging a tire. Or a driver may end up in an accident while trying to avoid a dangerous pothole.
- Road work – When road work has been performed, traffic cones, signs, or other debris may be left behind accidentally by workers.
- Dropped items – When a truck is being used to haul items, something may fly off the back without the driver noticing.
What Determines Fault?
Here are a few things that can determine who’s fault the accident is:
- Where was the road hazard and who is responsible for it ending up there?
- Whose jurisdiction is the road? There are federal, state, and locally maintained roadways.
- Was negligence involved in leaving the debris, or did it get dropped as you arrived?
- Was the road hazard the cause of the damages?
San Diego, CA Personal Injury Attorneys
If you have been injured in an accident involving a road hazard or debris, contact Petrov Law Firm to determine if you deserve compensation. We can help you to calculate your damages and to determine where the blame lies. Call 619-344-0360 to get started today.Read More
If you give a gift to a family member or friend that exceeds a specific value, it can be taxed. Because of this, some people decide to leave gifts in the form of a trust. It allows you to leave much more money to a person without a portion of it going to the government. Here are some of the best ways to leave a gift via trust to your loved ones.
- IDGT – The intentionally defective grantor trust is used to leave the family business to another household member, and it protects the beneficiary from the company’s creditors.
- QPRT – A qualified personal residence trust is a great way to transfer a house to your family when you don’t want them to pay the full market value. Your family will receive asset protection as well as tax benefits.
- CRT – A charitable remainder trust is for when you want to leave the gift to a charity rather than an individual. It also provides tax benefits to your estate.
- Gift trust – A gift trust with annual exclusions allows you to give family members the maximum exempt amount per year with the rest going into a trust that will be dispensed later. While the family doesn’t get access to all the funds immediately, they also don’t have to pay half of it in taxes.
Generous Estate Planning Options in Southern California
For more generous estate planning options in southern California, contact the estate planning experts at Petrov Law Firm by calling 619-344-0360. Our experienced attorneys can help you leave assets to your heirs with the minimal tax burden, so your family enjoys your assets rather than the government.Read More
When it comes to couples, you have estate planning options that are unique to your legal relationship. Here are some things that a couple should know about when planning a future together.
- A/B Trusts – While rare, this is a type of tax shelter that you may want to take advantage of if you have a huge estate. Most estates will not need something of this nature due to the current estate tax laws.
- Marital Disclaimer Trust – This is for couples who want to give the surviving mate a Bypass Trust option. Don’t try to set up this kind of trust on your own. You will want the help of an estate planning attorney to ensure this is the best option for you financially.
- Survivor’s Trust – This is a simple way to leave your mate everything that you own. Just remember that if the survivor remarries, it may affect whether your kids get anything in the future when the survivor eventually passes away.
- Survivor’s Trust w/ QTIP – Qualified terminable interest property (QTIP) can be of benefit if you are dealing with a smaller estate or have a blended family. The surviving spouse receives the maximum asset distribution, but you also get the best deductions while you are both alive.
Estate Planning for Couples in San Diego, CA
If you live in San Diego or the surrounding areas, Petrov Law Firm is your source for Southern California’s top estate planning attorneys. To get your estate plan started, give us a call today at 619-344-0360 and schedule a consultation.Read More