Estate Planning News - March 2023

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How to Avoid Family Disputes and Litigation

Over Your Will

Estate plans are created to ensure family members will be provided for after a loved one passes away. Unfortunately, despite the decedent’s best intentions, disputes involving a family inheritance often erupt in many cases and cause division.


Family disputes regarding estate planning can be caused by several issues. On the death of a relative, a dispute can arise if one family member is left out of the will while others inherit. Disputes can also arise amongst siblings if a parent passes away and not all children receive equal benefits.



You can’t guarantee everyone involved will agree on every aspect of estate administration, but there are some things you can do to avoid disputes over inheritance. Below are three points to consider when carefully curating and fine-tuning your estate plan with your family in mind.




Read more...

Benefits of an Irrevocable Life Insurance Trust

An irrevocable life insurance trust (ILLIT) is an estate planning tool that owns and controls a permanent life insurance policy or policies while the insured is alive.



The parties in an ILIT are the grantor, trustees, and beneficiaries. The grantor is the individual that sets up the trust and is responsible for funding the trust. Unlike the revocable trust, he or she cannot make any changes to the irrevocable trust once it’s been set up.


The trustee is responsible for the distribution of proceeds and management of the trust while the beneficiary is the person legally designed to receive those benefits once the grantor passes.


Using an irrevocable life insurance trust can have several advantages. Listed below are two benefits you should consider if you’re contemplating adding an ILLIT to your estate plan.



Read more...

Blog Post Archive


Here is a listing of the blog posts we've published:



Controversy in the Determination of Death

New Year’s Resolution: Make or Update Your Estate Plan

Why Millennials Are Writing Wills More Than Ever Before

Drastic Updates to California’s End of Life Option Act

The HJTA Responds to Prop 19 with an Initiative to Repeal the Death Tax

6 Common Estate Planning Mistakes

Estate Planning Checklist: 5 Ways to Prepare

A Guide to Estate Planning for Singles Versus Married Couples

Estate Planning and Divorce 

Digital Assets and Estate Planning

Benefits vs Disadvantages of a Living Trust

How to Choose the Right Guardian for Your Children In Case of Death

What Happens If You Die Without a Will?

Pitfalls of Do-It-Yourself (DIY) Estate Planning

Is a Handwritten Will Valid in California?

Questions? Email Us

Or please visit the resource section of our website.

Estate Planning Workshops


We have scheduled the following live workshops. If you or someone you know would benefit from attending our workshops,

please RSVP on our website or call the office (877-585-1885) to save your seats.


Bakersfield

Four Points by Sheraton

5105 California Ave.


Tuesday, March 21st, 10:00 a.m. - 12:30 p.m. - or -

Tuesday, March 21st, 7:00 p.m. - 9:30 p.m. - or -

Saturday, March 25th, 10:00 a.m. - 12:30 p.m. - or -

Wednesday, March 29th, 7:00 p.m. - 9:30 p.m.

 

Valencia

Hilton Garden Inn

27710 The Old Road


Tuesday, May 2nd, 10:00 a.m. - 12:30 p.m. - or -

Tuesday, May 2nd, 7:00 p.m. - 9:30 p.m. - or -

Saturday, May 6th, 10:00 a.m. - 12:30 p.m. - or -

Wednesday, May 10th, 7:00 p.m. - 9:30 p.m.

 

Ventura

Ventura Beach Marriott

2055 E. Harbor Blvd.


Wednesday, June 21st, 10:00 a.m. - 12:30 p.m. - or -

Wednesday, June 21st, 7:00 p.m. - 9:30 p.m. - or -

Saturday, June 24th, 10:00 a.m. - 12:30 p.m. - or -

Tuesday, June 27th, 7:00 p.m. - 9:30 p.m.



Please feel free to forward this email to anyone

you may know who has estate planning questions or

would like to attend our workshops.

RSVP for Workshop
Got a Question? Call us toll free 877.585.1885

Estate Planning Videos

Looking to watch a video on a particular Estate Planning topic? Visit our YouTube Channel or website to choose from our educational series. Topics include:

  • How Botti & Morison Makes Estate Planning Easy
  • How to Avoid Capital Gains Tax in California
  • A/B Trusts
  • Health Care Directives
  • A Properly Crafted Comprehensive Estate Plan
  • How a Durable Power of Attorney Avoids Financial Conservatorship
  • How a Trust Avoids Financial Conservatorship
  • What is Conservatorship
  • How a Health Care Directive Avoids Medical Conservatorship

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