A cookie-cutter last will and testament template from the Internet might be able to help you assign an executor, assuming it is worded properly for the state you live in. However, real estate planning requires the help of a local professional who understands state laws regarding succession. If you want to put your own personal stamp on your estate plan, here are a few things you won’t find in a generic template.
- Recordings – You’ve probably watched a movie or TV show wherein someone leaves a video message behind for loved ones to treasure. Digital storage makes for an even more lasting keepsake. Your video can be played over and over, even to introduce you to generations of your family that are born after you pass on.
- Charitable contributions – What better way to leave a legacy than to support your favorite cause? You can provide assistance for the community and provide your heirs with an object example in being generous at the same time.
- Conditional trusts – Conditional trusts allow you to support the hopes and aspirations of your beneficiaries. You can make the trust conditional on anything like an heir getting married, buying their first home, having a child, going to college, starting a business, going to rehab, or whatever else you want to support them in accomplishing.
Creating a Lasting Legacy for Your Family
Estate planning is so much more than just deciding who gets what. Petrov Law Firm can help you explore the options that are available to you in the state of California, call 619.344.0360 to learn more today.Read More
If you were to die in the state of California with no last will and testament in place, what would happen to your belongings? California, like other states, sets its own line of succession in regard to inheritance. Here is the initial line of succession, depending on family members who survive you.
- Spouse – Remember that this only applies to those who are legally married. If you have been cohabiting with the same person for many years, it may not be something you think about.
- Children – Things can get complicated if you have children with multiple people, so blended families shouldn’t rely on natural succession.
- Parents – If you are survived by your parents but do not have a legal spouse or children, they will be the next of kin.
- Siblings – If there are no closer relatives, your siblings should be contacted next.
Keep in mind that this line of succession depends on a court-appointed individual being able to identify and contact your next of kin. To ensure the line of succession or to change the order, you will have to perform your own estate planning. Also, planning ahead and executing the right documents will speed up the process and result in fewer assets going to the courts or state.
Planning Ahead for Succession in California
To ensure that your family receives what they deserve as soon as possible or to add charitable donations to your estate planning, you want the help of experienced estate planning attorneys. Call 619.344.0360 to contact the professionals at Petrov Law Firm.Read More
Is it worth it write a Last Will and Testament when you are still in your 20s or 30s? What if you are still single or don’t own your first home yet? The fact is that responsible estate planning isn’t about your age or how much you own. Here are three reasons millennials should have a will.
- You have the energy – If you don’t, imagine how much worse it will be in another 10 or 20 years. Now is the time to take care of things that consume time and energy but are necessities, and that includes estate planning.
- You should be making healthcare decisions in advance – Estate planning isn’t just about deciding who gets your stuff. You also need to make advance medical decisions and appoint someone to carry out your wishes if you are every unconscious or incapacitated.
- Accidents happen – We hope this never happens to you, but if you end up the victim of a tragic accident, you want to make sure your family is taken care of, and that means planning in advance for the worst-case scenario.
Care for Your Loved Ones with Estate Planning
Estate planning shows your love and concern for your family goes beyond just the time that you get to be with them. This is how you show your affection even after you are gone. Call 619.344.0360 today to speak with a professional estate planning attorney at Petrov Law Firm. Let us help you to plan ahead for the future in the state of California.Read More
If you have been named the executor of someone’s last will and testament in the state of California, then you have a weighty responsibility to carry out. Here are three tips to help you succeed.
- Communicate well – You are going to have to spend a lot of time on the phone negotiating the estate’s taxes, debts, and creditors. You also need to stay in constant communication with the court and with the beneficiaries.
- Stay organized – There is a lot to do as an executor, so being organized is a necessity. Be sure to keep track for the decedent’s wishes as well as important documents while you are working out the details for the heirs.
- Get help from an estate attorney – Estate planning attorneys have experience both helping people plan for their estate as well as helping executors to carry out the task that has been placed upon them. While you may worry about spending some of the estate on legal counsel, it’s far better than making a mistake that could cost the beneficiaries a large sum or tie up the money for months or even years.
Estate Planning Lawyers in San Diego
For the best estate planning lawyers in San Diego, North County, and Chula Vista, residents turn to Petrov Law Firm. We’re here to help you whether you are planning for your own future or carrying out the wishes that you have been entrusted with. Contact us today by calling 619-344-0360 and schedule an appointment at one of our three convenient locations.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
Even if you have a relatively small estate, you might face some uncomfortable questions by your family regarding your estate planning. Sometimes, these concerns are well-founded; and sometimes, the questions are simply rude.
“Do you have a will?”
Generally, this is an acceptable question. An estate that passes into probate can cost thousands of dollars in fees; many of which can be avoided by simply having a valid will. If a family members asks this questions, they may simply want to know where you keep your will. It’s not outrageous for a close family member to want to know the name of your estate attorney and the location of your will.
“What’s Your Plan for Your Estate?”
Occasionally, this is an appropriate plan. Generally, only the closest family members have the right to ask such a person question. Because financial circumstances can change so dramatically over time, a will is not a promise, but simply a plan that may need adjusting when your estate is released to beneficiaries. Sometimes, adult children with significant assets of their own may want to make a contribution to the overall plan. For example, an adult child might want to buy the family summer home in an attempt to keep it in the family instead of seeing it sold after you pass.
“How Much Will I Get When You Die?”
While there are several ways to answer this question, the best answer might be with your own question. “Why?” “How much will I get?” is a rude question, but it might be based in a pressing need. Instead of being offended, you might delve deeper to find out if there is something you can do while you are alive. For example, you might be able to offset the cost of tuition for a grandchild or offer a gift for a down payment on a house.Read More