Estate Planning for Parents

When you are a parent of young children, it can be hard to set aside time to plan for their future. At California Trusts Online, we try to make estate planning convenient and affordable so that parents of young children can focus on their children’s daily needs and their long-term needs.

The two most pressing questions that parents face are

            1. Who will take care of my children if I cannot?

            2. Where will my money (and other assets) go if I die?

Emotions of Estate Planning

Why do many people resist estate planning? I think that there are several reasons:

1.  Estate planning forces us to confront our own mortality.

2.  Some people are uncomfortable talking about their private lives with attorneys.

3.  Indecision and overwhelm.

4.  Expense and reluctance to deal with attorneys.

However, if you let these emotional hurdles stop you from creating an estate plan, you may miss out on the emotional benefits of estate planning.

Trusts for Renters

Most lawyers will tell you that if you own real estate in California, you probably need a Trust. That does not mean that you only need a Trust if you own real estate. If you rent, live with your parents, live rent-free at your significant other or spouse’s place, or couch-surf, you might need a Trust.

Protecting Your Same-Sex Marriage with Estate Planning

With the Supreme Court overturning Roe v. Wade last week, many people are concerned that other fundamental privacy rights are in jeopardy. If you are in a same-sex marriage and you are worried about the Supreme Court overturning Obergefell v. Hodges, or if your spouse is a different color than you and you are concerned about the Supreme Court overturning Loving v. Virginia, you may not be able to protect all of your marital rights through the use of estate planning documents, but you can protect some of them.

Foreign Assets

Can I put my foreign assets into a Trust I created at California Trusts Online? Maybe. Maybe not.

By “foreign assets” we mean real property located outside of the United States, shares or equity in legal entities organized under the laws of another country, bank and investment accounts “booked” with a foreign financial institution.