A Well-Rounded Estate Plan Considers Every Possibility

A Well-Rounded Estate Plan Considers Every Possibility

By Christina B. Yee, Esq. As the population ages, planning in the event of incapacity has become increasingly important. According to the 2024 Alzheimer’s Association report, an estimated 6.9 million Americans aged 65 and older are living with Alzheimer’s dementia in 2024, and of that, 73% are aged 75 or older. This same report projects that…

Understanding Hidden Assets, Trusts, and LLCs in Divorce Battles
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Understanding Hidden Assets, Trusts, and LLCs in Divorce Battles

The Wall Street Journal (Candace Taylor) 09.24.24, published the article “Secret Trusts, a Bitter Divorce and the Battle Over One of America’s Biggest Homes.” The article is regarding the Pritzker estate, a 50,000-square-foot property in the hills above Los Angeles (one of the largest private homes in the country). It is at the center of…

September Newsletter: Estate Planning for Young Adults

September Newsletter: Estate Planning for Young Adults

September’s newsletter covers estate planning for young adults, from basic first documents to smart financial strategies. It’s a great read to gain actionable first steps your young adult child can take toward financial literacy and estate planning to ensure a secure transition into adulthood. Here’s what you’ll find inside: Starter Estate Plan for High School…

Potential Pitfalls of Joint Property Ownership
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Potential Pitfalls of Joint Property Ownership

Joint real estate ownership allows the property to bypass probate and pass directly to the other owner(s) upon death. However, it’s important to note that joint property ownership can lead to unintended consequences despite its appeal for succession planning. Let’s discuss these potential complications further: Financial Risks of a Co-Owner’s Debt Any debt or obligation,…

3 Effective Ways to Manage Estate Planning Expenses

3 Effective Ways to Manage Estate Planning Expenses

Hiring an estate planning attorney may involve a notable financial investment, but the benefits and protections they offer make this investment well worth your while. It’s a proactive step to ensure your wishes are legally enforceable and followed, providing for your loved ones as you intend. Additionally, investing in an expert estate planning attorney ensures…

Terms and Conditions for Your Child’s Inheritance

Terms and Conditions for Your Child’s Inheritance

You’re probably aware of the most straightforward way to leave a child an inheritance—a single lump sum. However, did you know that estate planning lets you limit how your child receives their inheritance? While there are some legal limits on conditional gifting, estate planning gives you the flexibility to design your child’s inheritance according to…

The Complexities of Spousal Disinheritance in Estate Planning

The Complexities of Spousal Disinheritance in Estate Planning

Did you know that special protections are built into the law to help protect against spousal disinheritance? While state laws differ in the details, a spouse has a claim to a share of their deceased spouse’s estate in every state. However, as estate planning attorneys, we see situations in which a person does not want…