Blog
Can a Non-U.S. Citizen Create an Estate Plan?
The United States has experienced a surge in immigration since 1970, and there are now approximately 45 million foreign-born people living in the United States. Some of them have become U.S. citizens, but many non-citizens live in the United States as well. In 2019 alone, approximately 1,031,000 foreign nationals obtained lawful permanent resident status. It is not only permissible, but essential for those individuals, like U.S. citizens, to have estate plans in place. There are a number of special issues non-citizens may need to consider.
Unclaimed Property - What is it, Where to find it, and Its Impact on Estate Planning and Administration
For most of us, every penny counts, so it is almost inconceivable that we could have lost track of any money or property. Regardless of how careful we are with our finances, it is possible for utility deposits, credit balances, unused gift certificates, banks accounts, and many more types of property or money to accidentally be forgotten or abandoned. In fact, across the country, there are billions of dollars in unclaimed property being held by the state and federal government. Fortunately, it is often possible to locate this property and obtain it. It is equally important for estate administrators or family members to look for unclaimed property when a loved one dies to be sure that all of his or her property is included in the estate and goes to the intended beneficiaries.
Protecting Special Needs Beneficaries
Protecting children with special needs requires specific planning and consideration in estate planning.
Reconsidering Your Role In Others' Estate Planning (How to Say No)
It is important to think carefully about your ability or willingness to serve as an executor or trustee for someone else. If a family member or friend has asked you to serve as the executor of his or her estate or as trustee of a trust he or she is creating, there are a number of factors you should consider before accepting either of these important roles.
Writing Your Own Obituary
An obituary can be much more than just a dry announcement of the time and location of your funeral or memorial service. You might want to consider writing yours yourself.
Planning for a Soon-to-Be Adult, Disabled, Child
When a child is less than 18 years old, a parent can make most, if not all, decisions on their behalf. What happens when they turn 18? What about if they have disabilities?
All About Ancillary Probate
Many people own property in more than one state. It is important to think about how that property will be handled as you create an estate plan.
COVID-19: A Reminder of Why Estate Planning is Important
Coronavirus has been all over the news—and with good reason. For some people, it can turn into a serious illness if contracted. Thankfully, for the great majority of people who have contracted the disease, the symptoms appear to be relatively mild.
Estate Planning in Age of COVID-19
News about the coronavirus is everywhere, and we have all been affected by it in some way, even if we are currently completely healthy. Although it may seem as though circumstances are spinning beyond our control, we are not powerless. There are steps we can take to protect ourselves and our families, both physically and financially.
How to Minimize the (Voluntary) Federal Estate Tax
Surprising to most people, the federal estate tax is a voluntary tax. Estate planning attorneys used to say, “You only pay if you don’t plan.” Now, portability of the federal estate tax exclusion provides both an alternative and a back-up plan to lifetime tax planning. This means you might be able to minimize or even eliminate federal estate taxes even if you didn’t plan.
How to Protect Your Family When You and Your Spouse Work in the Same Business
You and your spouse live together, you work together, and chances are you spend a lot of your free time together. Having a successful marriage and business takes a lot of hard work and dedication but can also be among the most rewarding things in life.
Estate Planning Strategies to Protect Your Spouse
You have searched for and found the love of your life, maybe your first love, or maybe after a previous marriage. As you have built your life together, you have probably weathered your fair share of storms and grown stronger because of them. To prepare for the future and the possibility of no longer being around for your spouse, it is important that you plan now to protect the surviving spouse later. As part of a married couple, you are uniquely situated to further protect your loved one upon your passing through the use of special planning techniques only available to married individuals.
Which Distribution Method is Best? Showing Your Children the Love
If you are a parent, you probably love to do good things for your children—and leaving them an inheritance is one of the most tangible ways you can show your love once you are gone. What you may not know is that there are a variety of ways that you can leave money and property to your children, and you can choose the method you think best takes your goals, including their wellbeing, into account.
We All Need a Yearly Checkup: Your Estate Plan Does Too
Like an undetected medical condition, an out-of-date estate plan can have devastating, unintended consequences.
The Lifetime QTIP Trust (Or How to Maintain Control of Your Estate and Keep Spouse No. 2 Happy)
Estate planning for couples in a second or subsequent marriage can be tricky, especially if their estates are disproportionate. One solution for allowing the well-to-do spouse to maintain control of their property and wealth--but keep their other spouse happy--is the “Lifetime QTIP Trust.”
Your Divorce Decree: The First Step in Estate Planning
You have recently divorced your spouse and the judge has signed the divorce decree. Now what? Although you may feel as though you have spent enough time and money on lawyers, there is one last attorney you need to talk to: an estate planning attorney.
Three Estate Planning Mistakes Farmers and Ranchers Make
Farming or ranching is more than a means of livelihood – it is about preserving a legacy and unique way of life. Unfortunately, many farmers and ranchers fail to make an estate plan.
Estate Planning is Like Building a Snowman
A complete estate plan must include certain essential parts. In fact, it is similar to building a snowman in some respects.
American Heart Month: Who Should Be My Medical Agent?
February has been celebrated as American Heart Month since 1963 in an effort to urge Americans to join the fight against heart disease, which is the leading cause of death for both men and women. It is also a great opportunity to consider who is the best person to act as your medical agent if you are stricken by a heart attack (or develop any other ailment) and are unable to make your own decisions about your health care or can’t communicate your wishes.
Importance of Properly Revoking Powers of Attorney
It is very important to regularly review and update all of your estate planning documents. However, your financial power of attorney is one document that should be reexamined more frequently than others.
Probate Administration Attorney Serving Carpinteria, California
Have you recently lost a loved one and are facing the management of their estate? The legal team at Island View Law can give you relief by taking the probate process off your hands and helping it go smoothly. We will put your needs first so you can focus on yourself and your family. With us, you are in good hands.