Modern Estate Planning Blog

It’s no secret that the elderly are a favorite target of scam artists. Criminals will troll the internet and phone lists looking for seniors that are easy to prey upon due to an illness, disability, or cognitive impairment.

Sometimes teens and adults with disabilities may require the help of others to make daily decisions on their own behalves. When this happens, a conservator is named by the courts who can oversee the individual’s finances and personal care.

One of the most common questions we receive here at the Chubb Law Firm is “How can I avoid Sacramento County probate?” It’s a hot topic because the California probate process can be long, complex, very public, and costly.

There’s good news for vulnerable seniors in California and across the country. As part of a larger bipartisan bill on banking reform, the Senior Safe Act was signed into law during the month of May.

Money is usually the last thing that someone grieving over the loss of a loved one wants to think about. However, death comes with expenses, and most people haven’t taken the time to prepare for them.

Many people love timeshares. That is, the option to be a part owner of a property which is used for getaways and vacations.

A lot of parents come into our Folsom estate planning law firm with mixed feelings about passing on the balance of their retirement accounts to their children when they die someday.

What happens when a child dies before the parent? What becomes of the inheritance that a parent plans to leave behind?

People often struggle with deciding who will serve as guardian for their minor children if they pass away. Sometimes, the family situation requires naming not just one guardian, but two.

Selecting the right person to serve as a trustee for a Special Needs Trust is important, as he/she will need to make distributions, file tax returns and carry out numerous other duties that go along with administering a trust.

Any interested party that wishes to remove an executor would have to petition the probate court to have the executor removed and present a reason. It’s best to have a Sacramento probate lawyer advise you first and help you with this petition.

It’s always best practice for a person to write down one’s intentions for their property when they die. However, many people still die intestate (without a will), and their intentions aren’t known.

Most people in the disability community have heard about ABLE (Achieving Better Life Experiences) Accounts. If you haven’t, it is similar to a 529 College Savings Plan, but allows tax-free withdrawals to be used for qualified disability expenses.

When it comes to estate planning, most people think of streams of income that are typical, such as current employment, retirement plans, and bank accounts. These obviously need to be included. But, there are other, less obvious types of income that some people forget.

If the deceased person failed to do estate planning, the estate will more often than not require a probate proceeding. All of this could be avoided if the deceased had taken the time to talk to a qualified estate planning attorney and put their affairs in order.

It seems like common sense to be adding your child to your bank account so they can help with paying bills. This is convenient, but what people often don’t realize is that the child will have more authority than to just sign checks.

It’s a common story among blended families: an aging parent becomes ill and the parent’s biological children clash with the parent’s spouse. A spouse is the closest next of kin and generally has the power to make medical decisions for the other.

When you are young, or even middle-aged, it is hard to imagine that you could experience a disability. But, studies confirm that many of us will face at least a temporary disability some time during our lives.

A study in the Journal of Intellectual and Developmental Disabilities reports that only 3.6% of parents surveyed who have children with intellectual and developmental disabilities have established legal guardianship/conservatorship, Powers of Attorney or have secured residential placement for their child in the event the child outlives them.

Nearly every week, we receive calls from family members who are upset about a deceased loved one’s estate. Unlike in TV shows, real-life family feuds are no fun.