Estate planning law firm Orange County with Darren Veracruz 2024: Living Trusts: Having a legal document that details what should happen to your assets upon your demise is a vital part of estate planning. One way to make sure that your final wishes are met is to create a living trust. There are three distinct benefits of creating a living trust; avoiding probate, saving money and maintaining the privacy of your estate. Probate Administration: Administering the estate of a person transferring their assets with a will or those dying without estate planning documents has benefits but the process is complicated and time consuming. We can help you understand your choices. See even more details on Darren Veracruz.
You may stipulate that funds should be used for something specific — perhaps for medical care, college, or just for financial emergencies. Increasingly, parents want to keep the cash out of their childrens’ hands until they have reached a certain age and will be better able to manage these funds for their own benefit. The appropriate age depends on the beneficiary. You may want to consider how have they managed money in the past, or if there are any concerns about substance abuse or gambling. These questions and more should be considered when determining when (or if) the beneficiary should have ready access to funds from the trust you create. Of course, if your children are very young, you may not know how their money habits will develop. In this case, an older age may be most appropriate.
Estate planning legal services Orange County, California from Darren Veracruz Law right now: Your conversation need not be consensus seeking. Your loved ones do not necessarily need to agree with your plans. You are the ultimate decision maker for your own estate. But, they still deserve to be heard. While your loved ones may not get a vote, you can choose to provide them with a voice. Doing so will promote understanding and feelings of mutual respect. Shouting, “It’s my money and I’ll do whatever I want with it!” is certainly one approach, but explaining the reasoning behind your decisions and asking questions to try to engage your loved ones will ultimately yield a more harmonious discussion. Listening to your loved ones doesn’t mean you have to change your mind, it just shows that you are respecting their perspective.
LSSSC currently operates on a $16.5M budget for Fiscal Year 2021 –2022. Over 80% of the agency’s budget is generated from government contracts. Most of LSSSC’s government contracts and programs have been sustained since 2011. Some contracts –such as the previously mentioned HUD PSH contract through the County of San Bernardino –have been renewed as far back as 2003. The agency’s ability to be responsible stewards of government grants/contracts is directly related to its outstanding fiscal management structure and capacity to execute these high-quality outcome-driven programs.
The last document that is critical for every young adult is the California Advance Health Care Directive. This is the document that allows a nominated agent to make medical decisions for the person signing the document in the event they do not have the capacity to do so. Some of the other things that the Advance Health Care Directive can do is let the person signing the document elect the choice to prolong life or the choice not to prolong life as well as whether or not they would like to be an organ donor. Many people choose to purchase online trusts to avoid probate only to realize that they didn’t get it notarized or the notary used an outdated acknowledgment language. Or they failed to fund the trust with the family residence or forgot to after refinancing or moving. Trusts are useful instruments but they need to be utilized correctly and the assistance of a professional versed in the instruments is advisable even for the brightest of us. See even more information on Darren Veracruz Attorney.
Distribute – Depending on the decedent’s instructions, the next thing you are going to do is distribute the firearms to beneficiaries or get rid of them. The safest and simplest way to transfer a firearm from one person to another, even in distribution of an estate, is through a Federal Firearms Licensee (FFL) who also has the necessary California licenses to deal in firearms. Not only do such dealers know firearms, but they can carry out required background checks on intended recipients.