Acorn Law Blog
DNA Tests, Ancestry Accounts, and Planning for Unexpected Relatives in Your Ventura County Estate Plan
Modern technology has put research tools once only available to professionals in the hands of everyday people. With nothing more than access to the internet, we can trace our family trees back several centuries. We can now order DNA testing kits through the mail,...
As seniors start experiencing the changes associated with aging, one of their most common fears is losing their independence. As a Thousand Oaks elder attorney, I recognize that a chief catalyst of such fears is often when the senior loses the ability to drive. A...
The thought of going through probate in LA County can strike fear in the hearts of most people, and with good reason. The time it takes is long and grueling, and the paperwork is overwhelming. The details of probate vary from state to state, so the process looks different depending on where the deceased owns property. To add to the confusion, separate proceedings are necessary if the deceased has property in more than one state.
As a Thousand Oaks trust lawyer, I am often asked by parents if it is possible to protect an inheritance for an adult child who battles Bipolar Disorder. Unfortunately, one of the hallmarks of the condition is excessive financial spending while in the mania phase of the disease. Parents often worry that if they leave an inheritance outright to their adult child that it will be lost or squandered quickly, and that mom or dad will no longer be around to help deal with the fallout of such spending.
Modern American families come in all shapes, sizes, colors, and configurations. This creates unique circumstances when creating wills and trusts and putting long-term care plans in place. There is always the potential for conflict when it comes to estate planning in general, but the added element of a blended family can compound problems.
If something were to happen to you and your spouse, what would happen if the authorities or medical personnel did not know that you have minor children at home waiting for you? Picture this; your children are at home and more frightened as each hour passes and you have not returned. Newbury Park wills and estates lawyer Marc Mackenzie discusses the importance of planning for your children’s protection before something happens.
For single parents with a minor child, the stakes are perhaps even higher.
Sometimes people confuse the estate tax with an income tax, but it is not a tax on income. It is a transfer tax imposed on the wealthy at death.
Aretha Franklin’s handwritten wills might not pass muster in some states. However, a court in Michigan, where she died, is more likely to take them seriously, experts say.
Very often, a lack of planning and insufficient assets leaves families with few options for their loved one’s final years of care, which is likely to be expensive.
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