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Park LaBrea News/Beverly Press, By Stephen Kramer Esq. What is Probate? Probate is the name given to the California court-supervised process which handles the administration and subsequent distribution of your assets pursuant to the terms and desires expressed in your will. In short, probate means the process by which your assets are gathered, used to…

Park LaBrea News/Beverly Press, By Stephen Kramer Esq. ADVANCED HEALTH CARE DIRECTIVE AN INTRODUCTION Who Will Decide When You Can’t?  California law provides each of us with the ability to make sure that our health care wishes are known and complied with in the event we are ill or incapacitated and unable to make these…

Park LaBrea News/Beverly Press, By Stephen Kramer Esq. WHAT IS A WILL? A will is a traditional manner of naming who you want to handle your final affairs (your executor) and who you want to receive your assets after you die (your beneficiaries). Unfortunately, your will controls only the assets that are in your name…

Park LaBrea News/Beverly Press, By Stephen Kramer Esq. A revocable trust (sometimes referred to as a “living trust”) allows you to control the disposition of your assets long after your death, as well as preventing the court from controlling your assets in the event of your incapacity. Even with a revocable trust, however, a will…

Park LaBrea News/Beverly Press, By Stephen Kramer Esq. WHAT IF I DO IF I HAVE NO ESTATE PLANNING? If you die intestate (without a will), then California’s laws of descent and distribution will determine who receives your property by default. Contrary to popular belief, if you die without a will, everything you own does not…

Park LaBrea News/Beverly Press, By Stephen Kramer Esq. HOW YOU HOLD TITLE MAKES A DIFFERENCE The kind of assets you own and how you hold title to those assets is a very important element in the estate planning process. Before you change or take title to an asset, you should understand the tax and other…

Park LaBrea News/Beverly Press, By Stephen Kramer Esq. “FORMER” SPOUSE GETS PENSIONS, INSURANCE“ Where a husband never replaced his former wife as the beneficiary of his life insurance and pension plans, she is entitled to the benefits, said the U.S. Supreme Court. This is true despite a Washington State Law that revokes beneficiary designations after…

Park LaBrea News/Beverly Press, By Stephen Kramer Esq. Many people think that estate planning is simply the writing of a will. They plan their estate because they want to control who will receive their assets after they die, preferably with as little as possible going to legal fees and taxes. A good estate plan will…