By Christen E. Bourne, Attorney at Law
What does divorce have to do with estate planning? Quite a lot, as it turns out.
It is estimated that between 42% and 45% of marriages in the United States will end in divorce. In California, the divorce rate is even higher—approximately 10% above the national average. Not only is divorce emotionally wrenching, it is also fraught with legal complexities—with nuances you may not even be aware of. If divorce is on the horizon for you, it is important to understand the impact of divorce on estate plans. This is something many people have probably never thought about.
The advance healthcare directive: power of attorney for healthcare and living will
It can happen to anyone. An unexpected medical or psychological crisis, like an accident, illness, or other event strikes and renders you incapable of making or communicating your own healthcare decisions. Are you and your loved ones prepared? The best thing you can do is plan ahead by preparing an Advance Healthcare Directive (AHCD).
By Tyler P Krueger, Associate Attorney
The Home Protection for Seniors, Severely Disabled, Families, and Victims of Wildfire or Natural Disasters Act
This article and accompanying infographics seek to explain how Proposition 19 makes significant changes to the parent-to-child and grandparent-to-grandchild property tax reassessment exclusions and some important information you should know if you think you will be impacted by the change in law.
Estate Planning is Not a One-Time-Only Event
Life changes. So do people and circumstances. The person you were even a few years ago is probably not the same person you are today.
So those critical estate planning documents, like your advance healthcare directives, powers of attorney, guardianship nominations, wills and trusts need to be reviewed and updated regularly; once a year on your own, and every 5 years with your attorney.
The Longer We Live, the Greater the Chances are of Becoming Incapacitated
It's a frightening thought: The longer we live, the greater the chances are of becoming incapacitated. It's one more reason the attorney's at Rusconi, Foster and Thomas say an estate plan is critical.
The Estate Planning Checklist
Estate planning is not a one and done event. It's critical to create, and periodically update documents the communicate your wishes to your loved ones if you die or become incapacitated.That's why the estate planning attorneys at Rusconi, Foster and Thomas are offering this checklist:
By John C. Foster and Christen E. Gay
Your estate includes everything you own.
If “estate planning” sounds like something that is only necessary if you are wealthy or own real estate, think again. Contrary to popular belief, your estate includes everything you own. Therefore, if you would like a certain piece of personal property to go to specific person you should execute a will at the very least. Otherwise, the state will determine how your property is distributed at your passing.
Rusconi, Foster & Thomas, APC
We're located in Morgan Hill, California serving Santa Clara, San Benito, Santa Cruz, and Monterey Counties since 1956.