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
It is important to make advance decisions regarding your estate and your beneficiaries. However, it is advisable to have the assistance of an estate planning attorney. What are some of the risks of trying to write a will on your own?
- Estate taxes – While current estate tax laws allow for quite a large estate to pass on to heirs tax-free, you want to be sure that you keep up to date with current estate tax legislation so that most of your money doesn’t end up going to the government instead of your family.
- Missed details – It doesn’t matter how many times you double check your work if there is something you are unaware of that should be written in advance. Boilerplate wills that are available online don’t fit every situation, so you may be omitting important information.
- Legal loopholes – Every state is different when it comes to succession, so you want to be sure that you are working with an attorney who knows the legal language to use for the state that you presently live in.
California’s Premier Estate Planning Attorneys
If you live in the San Diego area, contact the Petrov Law Firm today to get the best legal help in planning your will, executing advance medical directives, setting up trusts, and more. Our assistance can allow you to have peace of mind, knowing that your wishes will be carried out. To get started on your estate plan, or to update an existing plan, call us today at 619-344-0360.Read More
A patient has a great degree of latitude when it comes making end of life decisions. For example, you can choose whether or not the medical team will preserve your life using machines if your condition is fatal, irreversible, or if there is a medical degree of certainty that you will never regain consciousness. You also have decisions that involve weighing certain forms of treatment versus the risks and side effects.
The way that you make these decisions in advance is by executing an advance health care directive. In California, you can make medical decisions in advance by means of this document, and you can appoint a surrogate to give voice to your wishes if you are unconscious or otherwise incapacitated.
When you make these kinds of decisions in advance, it shows concern and love for your family, who would otherwise have to make these decisions without you and maybe amidst a great deal of disagreement. Executing an advance medical directive provides clear instructions, which benefits decision-makers and ensures that your personal wishes are carried out.
Preparing an Advance Medical Directive in California
Every state has its own laws regarding advance medical decisions, so you should enlist the help of an estate planning attorney to ensure your document is worded correctly. The estate planning attorneys at Petrov Law Firm can help you to execute an advance medical directive and other estate planning documents. Call our San Diego office today at 619-344-0360 to learn more.Read More
Millennials are currently in your 20s and 30s, so estate planning may be the last thing you are thinking about. You are busy raising your kids, taking care of aging parents, and trying to make ends meet in a difficult job market. However, being busy is no excuse for failing to plan for the future. Here are three reasons that Millennials need to execute a will.
- You’re not invincible – It may feel like it right now, but there will come a time when you will wish that you had taken care of your estate planning earlier when you had more energy.
- You need to make advance medical decisions – If you become incapacitated or unable to speak for yourself, advanced medical decisions that are made as a part of your estate plan will allow you to have a voice and to appoint someone who can make decisions for you.
- An accident can happen to anyone – If an accident does occur and something happens to you prematurely, some still has to take care of your spouse, kids, parents, etc. Estate planning is how you provide ongoing care even if you pass away tragically.
Estate Planning Is a Sign of Love
Take care of your family, even if something happens to you. Estate planning helps carry out your wishes and can help your family to cope with the trauma of losing you. The Petrov Law Firm can help you to plan ahead for the future. Call 619-344-036 today to learn more about how we help California families.Read More
You may have always thought of it in terms of end of life decisions, but estate planning is really all about planning for the future. Many of your advance plans may still be enacted while you are alive. Here are a few mistakes to avoid when you plan for the future.
- Not making advance medical decisions – Are you willing to be revived or to have your life prolonged by machines? Are there certain treatments that are unwilling to accept for ethical or religious reasons? Making these decisions in advance and appointing someone to speak for you medically if you are unconscious are important when it comes to having your medical wishes carried out.
- Failing to update your existing estate plans – Maybe you created an estate plan several years ago but have not checked it since. Have you had any major changes in your assets since then? Did you get married, divorced, have a child, or change your family in some other way? Looking over your estate plan every few years and after any major life event is important to ensure that your current wishes are reflected.
Plan for Your Future with Help from an Estate Planning Attorney
Petrov Law Firm has southern California’s estate planning attorney experts. If you need to develop an estate plan, set up an advanced health directive, or even update an existing estate plan, we’re here to help. And don’t forget that every state has their own laws regarding succession, so if you set up your estate plan before you moved to California, you need to make sure it will still carry out your wishes here. Call 619-344-0360 to schedule a consultation today!Read More
There are a lot of things that can be fun to do yourself. In fact, many home projects can save you a ton of money if you learn to take care of them on your own without the help of a paid professional. However, when it comes to your estate planning, you don’t want to take any chances. Here are three reasons:
- Mistakes – Even if you go to a legal website that offers a form will and legal support, there are still mistakes that can easily be made. Whether it is something that is omitted that should have been in your will or perhaps wording that is not valid in California (since legal matters vary from state to state), you just want to be sure that your planning is valid.
- Dispute resolution – Don’t let your life’s work end up tied up in probate court for months or even years before your beneficiaries are left with what hasn’t been spent on court fees. The wording is key when it comes to estate planning. You want to be sure that things are ironclad, so no one can challenge your decisions.
- Confidence – Hiring an attorney can give you peace of mind because you won’t have to worry if your DIY will is good enough to get your wishes carried out.
Southern California’s Premier Estate Planning Attorneys
If you are ready to prepare your estate plan with confidence, then it is time to call the pros at Petrov Law Firm. Dial 619-344-0360 today to get the help you need in being prepared for the future.Read More
If you are a resident of the state of California, one of the things that you have to think of when it comes to estate planning is how you want medical matters to be cared for should you ever become incapacitated. This makes decision making easier on the family because they know your wishes, so there is no fighting.
In order to ensure your wishes are carried out, you will want to execute an Advance Healthcare Directive. Not only can you outline your medical wishes, but you can also designate a representative to carry out your wishes or make decisions for you if you are unconscious or otherwise unable to speak for yourself.
Another document that you may want to consider is a living will. This allows you to make end of life decisions in advance. That can remove the burden from family members should you ever be in a situation where all that is keeping you alive is a machine at the hospital.
Finally, you will want to provide the proper HIPPA authorization documents so that your doctors can share your medical information with the person you have designated as a healthcare agent. Being able to speak directly with the doctor or facility you are in will make it easier to ensure your wishes are carried out.
Comprehensive Estate Planning in California
Petrov Law Firm in San Diego can help you to plan properly for your future healthcare. To learn more, contact us today at 619-344-0360 and schedule a consultation with our experienced estate planning attorneys.Read More
Usually, people are encouraged not to waste their time worrying about things that may never happen, but when you are working on an estate plan, you do have to think about certain scenarios that may be unlikely but that would seriously affect your plans. Here are three “what ifs” that your estate plan should account for.
- What if there is a family conflict after I die? A big inheritance can bring out the worst, even in families that are very close-knit. The best way to protect your loved ones is to be very explicit about who gets what. You may even choose a non-family member as your executor.
- What if my mate and I die together? If a tragedy should occur such as an accident or a disaster, this is a possible scenario. Plan ahead by outlining succession in your estate plan and be certain to include plans for the care of minor children should they lose both parents at once.
- What if I die in another country? If you regularly travel or live in another country for part of the year, be sure that dying in another country will not affect your estate plan. You may need the assistance of a lawyer from the country you spend a lot of time in along with your local estate planning attorney.
Crossing the T’s and Dotting the I’s in California
For California estate planning, contact the attorneys at Petrov Law Firm. Our experienced and compassionate lawyers can help you to plan ahead for all of the “what ifs” so that you can have the peace of mind you deserve. Call 619-344-0360 to get started today.Read More
You cannot just assume that the right people will benefit from your assets when you pass on. Estate planning is required in order to ensure that your wishes are carried out. Unfortunately, many people make the mistake of thinking they can do nothing and that their mate and children will automatically get everything. Here’s the issue with that mentality:
The traditional family structure is becoming less common in the US.
If you and your mate have only ever been married to each other and all of your kids are naturally born to the two of you, you may actually be correct in thinking that your loved ones will inherit everything. But how many families are like that?
If you are raising grandkids, have children from multiple spouses, have adopted children, or have been married more than once, you may have no idea what the line of succession will be for your family. On top of that, family members may have different ideas as to how to care for you medically if you become incapacitated later in life. There can also be fights over funeral arrangements.
Lovingly Caring for the Future of Your Family
The loving way to care for the future of your family is to have an estate plan in place. Petrov Law Firm is your source for estate planning attorneys in southern California. Get in touch with our San Diego and Chula Vista lawyers today by calling 619-344-0360. We can help you plan for your future.Read More
The Internet is filled with generic wills that you can download and just add your information to. However, if you want your estate plan to be personalized, you may require the assistance of an estate planning attorney. Here are a few tips for customizing your estate plan, so that your heirs gain the most benefit.
- Leave something to charity – What is really important to you? By leaving some of your estate to charity, you can show future generations the causes that meant the most to you. Plus, you have the peace of mind of knowing that some of your estate is going to a good cause that can really create a legacy for your family.
- Pass on heirlooms – Rather than just combining all of your physical possessions to leave to a relative in one lump sum, determine some of the things that have the most sentimental value to you and turn them into family heirlooms.
- Create a narrative – By using everything from letters to video recordings, you can tell your story to the next generation. Passing on money is one thing but passing on your knowledge and experience can help the next generation to use the things that you have amassed in a wise manner.
Estate Planning Attorneys in San Diego
To help you customize an estate plan that will meet your needs and benefit future generations, contact Petrov Law Firm today. Our estate planning lawyers can help you to understand how federal and California laws affect your planning efforts. Get started today by calling 619-344-0360.Read More