Ventura and Santa Barbara estate planning lawyer

Adding Conditions to What You Leave to Your Children

It is quite common for people to want to attach conditions on an inheritance they leave to their children. You might, for example, be concerned about your child’s spending habits or a substance abuse problem. Adding conditions to your will and estate plan can help your kids use the money and assets they receive more responsibly. You might find it …

Ventura and Santa Barbara estate planning lawyer

Estate Planning Tips for People Married to Noncitizens

If your spouse is not a citizen of the United States, some special rules could affect your estate planning process. In general, you will proceed just as you would if your spouse was a legal citizen. The following are some estate planning matters all people should address, regardless of their citizen status: Making a will or living trust to leave …

Ventura and Santa Barbara estate planning lawyer

How to Account for Children with Disabilities in Your Estate Plan

All parents should consider the futures of their children in their estate planning. However, there are some special considerations parents of children with disabilities must address when putting together their wills, trusts, and power of attorney documents. At the outset of your estate planning process, speak with your attorney in detail about the disability in question, the abilities and limitations …

Ventura and Santa Barbara estate planning lawyer

Using a Charitable Remainder Trust in Your Estate Plan

A charitable remainder trust is an excellent way to pass on assets from your estate to the charity of your choice, while also giving you and your beneficiaries a sizeable tax break. It’s an especially sound option for people who wish to make large donations to charities upon their death. However, you should keep in mind that a charitable remainder …

Ventura and Santa Barbara estate planning lawyer

Protecting Your Estate’s Finances by Implementing Durable Power of Attorney

Establishing a durable power of attorney for finances is a straightforward and reliable way to arrange for someone to manage your finances in the event of your incapacitation. This designation will remove a significant amount of stress from your family members, who might otherwise be unable to maintain the financial affairs of your estate. Below is a general overview of …

Ventura and Santa Barbara estate planning lawyer

What You Need to Know About Establishing Advance Directives

Advance directives are legal documents and tools that outline your wishes concerning the long-term medical care, particularly at the end of your life. These tools are especially useful in the following situations: You cannot make your own medical decisions You are in a state of terminal illness or incapacitation You meet certain other requirements as outlined in state law One …

Ventura and Santa Barbara estate planning lawyer

How to Inherit Property Owned in Joint Tenancy

Any property a person holds in joint tenancy automatically passes down to the surviving joint tenant(s) when one of those tenants passes away. This is referred to as a “right of survivorship,” and it’s the easiest way to transfer property that multiple people owned once they have all passed away. The right of survivorship is the principle that guides how …

Ventura and Santa Barbara estate planning lawyer

Effective Methods of Transferring Real Estate Via Your Estate Plan

As you work on your estate plan and begin to make plans for how you will pass down your real estate assets, you must consider the methods you will use to do so. Real estate could be the most valuable asset in your entire estate, which means surviving family members will have lots of interest in what will happen to …

Ventura and Santa Barbara estate planning lawyer

Using an IRA Trust to Protect Your Beneficiaries

If you are at all concerned about providing your loved ones with uninhibited access to an inherited individual retirement account (IRA), you may want to consider an IRA trust to alleviate those worries. In the past, IRA trusts were not very common. But a 2014 U.S. Supreme Court ruling has led to more financial advisors recommending their use to many …

Ventura and Santa Barbara estate planning lawyer

Common Estate Planning Mistakes Made by High-Net-Worth Individuals

No matter your level of income, having a comprehensive estate plan is one of the most important steps you can take to secure the future of your loved ones and your assets. However, even among high-net-worth families, studies show that nearly 40 percent have not engaged in sufficient financial and estate planning. It takes the assistance of a professional and …