Passing It On: Estate Planning for Families

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com sometimes we want to name a trust as a beneficiary of certain financial accounts, but sometimes we might want to name a trust as that beneficiary. When it comes to retirement investments, speak to your estate, planning, lawyer, your financial advisor, and your accountant about how best to title those benefici...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com putting a home inside of a trust is often as simple as signing a new deed and filing that deed with the local county office. The more important thing is that a trust exists in the first place and the trust clearly states what your wishes are with your property when you have passed away. #EstatePlanning #Livin...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com a home going inside of a trust is not going to affect your property taxes or your mortgage. As long as it is your primary residence. Rental homes, could be a different story.

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com wyliee cryptocurrency can go inside of a trust, just like any other type of asset, but make sure that it is accessible by the trustee that comes after you making sure that they are able to get to it and distribute it properly. That may mean, having it means of getting access to whatever wallet you are using o...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com please don't hand write a will. It is a recipe for disaster. Yes it is legally allowed in some states, but many states also have forms where you can create your own will that are later either witness or notarized.

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com Trusts are private documents. The only people entitled to see them after the person that set up the trust, dies, or the beneficiaries or people that otherwise would've inherited that person's estate if they died without an estate plan, typically. #EstatePlanning #LivingTrust #FillThatBucket #Pevney #financial...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com how to create a trust by keeping children protected by a divorce. Make the child, the beneficiary of the trust, and use a trusted third-party to administer that trust as the successor trustee. #Divorce #EstatePlanning #LivingTrust #FillThatBucket #Pevney #financialfreedom #orangecounty

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com trust are private documents, to a point. They are typically not filed with any government agency, but when the person who creates the trust passes away, typically children of that person have the right to see the trust. #Privacy #Trustee #EstatePlanning #LivingTrust #FillThatBucket #Pevney #financialfreedom #...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com a trust is usually better than a will, for passing along real estate for four reasons. Cost, control, privacy, waste of time.#EstatePlanning #LivingTrust #FillThatBucket #Pevney #financialfreedom #orangecounty

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com you might be able to transfer real estate using a power of attorney document, if that power of attorney specifically allows you to engage in real estate transactions and estate planning. Powers of attorney are very important, estate planning documents, and must be written very carefully and understood by all...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com #onthisday avoid probate with a living trust. Probate is expensive, putting property inside of trust, avoids that cost. You have a lot of control from beyond the grave with a trust that you do not with a will or worse, no estate plan at all. Time and hassle. Probate often takes 18 months to two years to get t...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com inheritances are separate property, even if you live in a community property state like California. The very smart thing to do would be to sign a postnuptial agreement making clear what property is separate property. However, an inheritance could be kept a secret as long as it is kept completely separate and...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com Lynn Young a home with a mortgage, if it's your primary residence can go inside of a trust. This is based on a federal law that was passed over 40 years ago. And guess what, the bank can't force you to pay back the entire loan. #Mortgage #Loan #Real estate #EstatePlanning #LivingTrust #FillThatBucket #Pevney...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com property inside of a revocable living trust can be used as a collateral on a loan because you have complete control of everything inside of that trust if it is written the right way. The bank, or whoever is loaning you the money it might need to see a copy of that trust before giving you the loan though.#Coll...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com Life insurance is an important part of any estate plan. As part of that plan, you might wanna consider making a trust the beneficiary instead of an individual. This provides more protections for the ultimate beneficiaries, and make sure that that money is used in a responsible way, and protected from predator...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com sometimes it can be good idea to make a living trust the beneficiary of a life insurance policy because of the protections it provides the beneficiaries. Protections like making bad decisions, bankruptcy, lawsuits, and even divorce. #Insurance #Beneficiary #EstatePlanning #LivingTrust #FillThatBucket #Pevney...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com rental properties should typically go inside of a trust just like a primary residence. It receives the same benefits of a trust. First, it avoids the cost of probate. Second, you have a lot of control over what happens to it after you are dead. Third, trusts are private probate is public. Fourth, it avoids th...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com in California, your property taxes will not be recessed reassessed after putting your primary home in a revocable living trust. That is one of those exceptions. Also, you will not have to qualify for your mortgage that is according to federal law. Most of the trust that I set up, include homes with mortgages...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com How to title property in the name of a trust. A trust has to have a name, you can pretty much name it whenever you want as long as it has a word trust in it. I trust will also have a date associated with it, which is typically the date was created. Also, there will be a tax ID number, depending on the type of...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com Where do you keep your estate planning documents. Remember, trusts are private documents, and we don't ever file them with any government agency which means that they have to be kept safe, but also accessible. This means typically no bank safe deposit boxes, and we always want digital copies on hand. #Privacy...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com Make sure the kids don't fight and squabble over the family home after you are gone. The better decision is to put the home inside of a living tust with the kids, the beneficiaries and specify exactly what you want to Happen to that home after you are gone. #EstatePlanning #LivingTrust #FillThatBucket #Pevney...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com Sometimes it's not responsible for kids to inherit hundreds of thousands of dollars or more as soon as they turn 18 with no restrictions on that money. He living trust is great way to make sure that that money is put to good use and kept away from younger people, when they might be more likely to make bad dec...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com Factors isn't about when choosing a guardian for your kids, if you pass away. First, geography. Where do they live, your kids are likely going to move in with them. Second, age and level of health, how old are the guardians going to be when your youngest comes of age. Third and most important, do they love th...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com Estate planning documents that every parent needs. A revocable, living trust to make sure that kids inherit things responsibly. A financial power of attorney to make sure someone can make financial decisions for you if you can't. In advance, healthcare directive to make sure healthcare decisions are what you...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com debt cannot be inherited by somebody that never agreed to pay in the first place. Somebody that holds a car note cannot force the people you leave behind to pay the loan. They can't of course, close on the Det and repossess the car, but they can't force kids or parents to pay back the loan. #Debt #EstatePlann...