McCoy Fatula, APCMcCoy
Fatula
Located in Roseville, CA
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Estate Planning Archives

How estate planning can help your business

If you have your own business, you will obviously want to protect it -- and this doesn't just apply to when you are living. You will also want to ensure that your business is in good hands and properly organized when you pass away. It is in this way that preparing your estate plan to protect your business (and your family and business partners' interests) is vital.

Why failing to update your estate plan is risky

Our source article for this blog post uses a nice hypothetical situation to illustrate why it is important to not only have an organized and thorough estate plan, but also why it is vital to update your estate plan over time. You can read the specifics in that article (and it does get specific), but the point is this: if you leave your estate unattended, either entirely or over a period of years, you run the risk of leaving your family or your beneficiaries out in the cold (financially speaking).

Simple steps to organize and prepare your estate plan

We've said it before, and it is important that we say it again: an estate plan is something that you should be organizing and preparing early on in your life. It's something you don't realize that you need until you really need it -- and then you will wish that you had been planning it all this time.

What happens to your debt after you die?

When someone passes away, their loved ones and family members will be grieving. It's a tough time for those close to the deceased, and no one truly wants to deal with the serious matters that need to be addressed in the immediate aftermath of a death. Estate questions, beneficiaries receiving their pieces of that estate, and debt problems can riddle the atmosphere after a death.

Making moves: how a will can be changed, revoked or challenged

If you have a will or are considering an estate plan, then you need to know about three actions that can be taken in regard to your will. You can revoke or change your will; and, if your beneficiaries or a person with a stake in your will is so inclined, they can challenge your will. These are the three actions that we will talk about today.

Trust Administration and What an Attorney Can Do for You

You may have been given the role of "trustee" over someone else's trust. As the trustee, you are responsible for properly administrating the trust. This creates a legal duty called a "fiduciary duty." As the trustee it is very important that you administer the trust in a way that is in the best interests of any beneficiaries. If you do not meet this duty there are potential legal ramifications, such as a beneficiary suing you for improper administration and seeking damages. Hiring an experienced attorney can help to avoid such headaches and consequences.

Why avoiding probate can be very beneficial

Probate is actually a simple process. It is the act of transferring someone's property upon their death. It may seem surprising for probate to be so simple because probate has a reputation of being a costly and difficult procedure. This is indeed true -- probate can be costly and difficult. However, if you address your estate and your property in an effective and efficient manner, you can actually "skip" probate.

Why power of attorney and health care directive are important

Tragedy can strike at any time. That isn't meant to scare you about living your life -- but really, traumatic things can happen. When they do happen, the victims at the center of the tragedy hopefully have provisions and legal actions in place to not only take care of their family and loved ones, but also to fulfill their wishes.

What 'intestate' means and why it isn't necessarily good

A common refrain when it comes to estate planning is that everyone needs to plan early in their life. Even if you are in your early 20s, you should still be considering and planning for what happens to your assets and worldly possessions should a terrible accident or untimely death were to occur. There is no such thing as "planning too early" when it comes to estate plans.

Dual Necessity of a Durable Power of Attorney and Advanced Health Care Directive

Have you ever considered what you would want if you were on life support? Would you want the doctors to pull the plug? How about only if you had brain activity? What if it was not completely certain how much physical function you would have? The possible scenarios are endless. Unfortunately, just talking about it with your loved one is not enough to give them legal decision-making authority on your behalf in case you ever are incapacitated. A painful situation for loved ones to be in, this can all be prevented through utilizing basic estate planning tools.

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