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estate planning Archives

Are you going through a major life transition right now?

Everyone goes through many periods of transition in their lives. In fact, you might feel like an entirely different person compared to who you were three years ago. That feeling could be the result of a death in the family, a marriage, a new child, a new grandchild or any other number of reasons.

Be careful to remember the following points in your estate plan

Without detailed knowledge of California estate planning laws and strategies, those who are planning their family's estates could run into serious problems -- problems that are so severe that they could ruin their estate plans completely. Here are a few things people forget when planning their estates that could destroy their estate plans:

The unique estate planning challenges of women

Women and men are equal under the law, but there are some unavoidable characteristics that make them very different from one another. From an estate planning perspective, the most important difference is the fact that women tend to live almost five years longer than men. As such, women often die after their husbands have passed.

Bitcoin and inheritance: What will happen to my crypto coins?

With the rise of Bitcoin's value, more and more people are taking the cryptocurrency seriously as a method for storing wealth. Some analysts believe that a single Bitcoin will be worth $1 million in the not-to-distant future, while others believe that the coins will be worth no more than $0 dollars in a matter of years. Regardless of your opinion, if you own Bitcoin, you will want to make sure you create a strategy for transferring your crypto coins to heirs in your estate plan.

Doctors: Have you completed your estate plans?

As a doctor, you will have unique estate planning concerns. For one, if you're in private practice, you may own a valuable business and you will want to transfer as much of your business value to your heirs as possible. Secondly, if no one in your family is a doctor, you face the challenge of not having anyone to continue running your business. Fortunately, there are some strategies doctors can employ to ensure the success of their estate plans.

Transferring property deeds to an adult child

As you approach old age, you may be wondering how to transfer your real estate holdings to your adult children. There are several reasons why seniors may wish to transfer their real estate: Some people decide to unburden themselves of their house and travel the world; others make a choice to downgrade to a more manageable living space. For some seniors, the physical strain of maintaining the property may no longer be an option.

Tips for cleaning up your estate for your heirs

At some point in their lives, most California residents begin to realize that they may not have many years left to spend with their families and loved ones. During these last years, most people try to make the most of them and cherish the lasting memories they have. They may also choose to prepare their estates so that their wealth can be passed on to their loved ones in the most uncomplicated way possible.

Talk to your family before finalizing your estate plan

A lot of California families think it's best to keep their estate planning a secret. They meet with their estate planning lawyers and create a solid plan, but they don't tell anyone about it. Although this can work in many cases, it also increases the chances that family members will try to contest the estate plan after you're gone.

Who should I grant with the power of attorney?

As you start writing your wills, one of the questions you will need to answer is who you want to be given power of attorney. This person will be able to make decisions related to your care and treatment, as well as whether or not to continue life support.

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The Soto Law Group
1101 Dove Street,
Suite 200
Newport Beach, CA 92660

Phone: 949-945-0415
Fax: 949-945-0197
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