Helping a Busy Young Family
Dave and Ann* had been married for five years when they first became my clients. Dave’s 67-year-old mom had unexpectedly passed away. At the time, Dave called me to handle his mom’s estate. Dave was a 31-years-old mechanical engineer who had recently been laid off from work, and Ann was a 29-year-old registered nurse. They knew they needed an estate plan for themselves, but just didn’t have the time or extra funds to prepare one.
Then, two years later, Ann called Shirley to tell her that she and Dave had their first child! With the birth of their son, Dave and Ann’s #1 priority was creating an estate plan. Ann’s nursing schedule was always changing, and Dave’s schedule was just as unpredictable being a stay-at-home dad. Understanding their concerns, I met them at their home to gather the information I needed and advised them of the type of estate planning documents they should have. All remaining interviews and conversations were done by email and phone, and I accommodated their busy schedule by meeting them at their home in the evenings or on weekends when necessary. Dave and Ann had their estate planning documents completed quickly and were very relieved to know that their son’s future was secure. Later, when Dave and Ann welcomed a second child to their family, I was able to update their estate plan quickly and easily – around their schedule.
* Identities have been changed to protect client’s privacy
A Message from Shirley
Having two young children myself, I can relate to how busy working parents can be. I understand the need to be flexible with my clients’ schedules and I know how valuable it is to work with a professional who can accommodate non-standard working hours. Very often, I meet young families who express a desire to prepare their estate plan, but delay it simply because of their hectic schedules. Even if one parent is at home with their children, that doesn’t mean that their lives are any less busy! When those families do make the time to meet with me to set up their estate plan, oftentimes they express such relief that they finally did it!
I will work around your schedule to complete a comprehensive Estate Plan as painlessly as possible, eliminating your worries about the security of your spouse or young children. I will explain things clearly; taking whatever time is needed to make sure you understand your documents. There are no “stupid questions.” I also offer Group Consultations, providing you with an overview of estate plans and the planning process in a relaxed group setting of your friends or family.
Dealing with a Death in the Family
Barbara’s* mother died recently. Barbara, a 38-year-old bank manager, and her brothers met and retained me, quite frankly, because they didn’t know what to do. I reviewed Mom’s will and advised them on how to proceed. Since Mom had left a Will, I explained that a probate administration was necessary, and went through the steps involved in transferring their mother’s assets into their names through the probate process. Although Barbara was very organized when she and her brothers first met with me, it was obvious that the family was still in shock and mourning over the loss of their mom, who died suddenly of a heart attack at age 68. All the brothers agreed Barbara should act as the personal representative of Mom’s estate since they did not live in California, and had flown in only to attend Mom’s funeral.
Through email and phone conversations, I assisted Barbara with the smooth transition of her mother’s assets to herself and her older brothers during the probate administration. Barbara didn’t need to fill out any of the forms or attend any court hearings, as I prepared all the documents for her, and made all the appearances in court on her behalf. I made every effort to take the burden of administration off Barbara’s shoulders, giving her back the time to be with her family, and most importantly, to remember her mom.
* Identities have been changed to protect client’s privacy
A Message from Shirley
There are few things more overwhelming than when a person loses a loved one. Often, the first time someone seeks out a trust and estate attorney is because someone close to him or her has died. When medical bills come in and the deceased person’s obligations come due, they feel they don’t have time to grieve because they need to focus on the person’s estate matters. Whether there is a living trust, a will, or no documents at all, I am an experienced trust and estate lawyer who can help you handle the Trust and Probate Administration with efficiency and empathy for your family during this difficult time in their lives.
Through email and phone conversations, I assisted Barbara with the smooth transition of her mother’s assets to herself and her older brothers during the probate administration. Barbara didn’t need to fill out any of the forms or attend any court hearings, as I prepared all the documents for her, and made all the appearances in court on her behalf. I made every effort to take the burden of administration off Barbara’s shoulders, giving her back the time to be with her family, and most importantly, to remember her mom.
* Identities have been changed to protect client’s privacy
A Message from Shirley
There are few things more overwhelming than when a person loses a loved one. Often, the first time someone seeks out a trust and estate attorney is because someone close to him or her has died. When medical bills come in and the deceased person’s obligations come due, they feel they don’t have time to grieve because they need to focus on the person’s estate matters. Whether there is a living trust, a will, or no documents at all, I am an experienced trust and estate lawyer who can help you handle the Trust and Probate Administration with efficiency and empathy for your family during this difficult time in their lives.
Protecting an Elderly Parent
I had a long time client, Betty*, who was 73 years old and a very happy, charming retiree. Her daughters, ages 56 and 54, are an architect and an accountant, respectively. They had children of their own and the whole family got along very well. Betty came to see me about once every two years to update her estate plan and ensure things were “all right.”
Then one day, Betty came in with her two daughters. Her daughters explained that Betty had been making strange purchases lately, and had paid for a new roof on her house even though the existing roof was fine. Betty admitted her frustration with not being able to remember some of these transactions, or why she agreed to them at all. The family was clearly concerned about Betty’s ability to conduct her own financial affairs, and since one of the daughters lived out of state, much of the burden fell onto the other daughter to watch over Betty. When Betty went in for a doctor’s visit, she was diagnosed with dementia and early stage Alzheimer’s. I talked to the family about how to protect her finances, and what steps were needed to allow her daughters to help their mother keep up with her day-to-day living expenses.
Fortunately, Betty already had a comprehensive estate plan in place that accounted for a situation just like this. Using the documents that she already signed, I was able to assist her daughters in acting as Betty’s attorneys-in-fact. They were able to help her handle her daily expenses and to ensure that the assets remained intact for Betty’s benefit.
* Identities have been changed to protect client’s privacy
A Message from Shirley
Becoming forgetful and absent-minded as we age is something many people joke about, but what happens when that forgetfulness becomes something more serious - and someone’s parent is diagnosed with dementia, Alzheimer’s, or Parkinson’s disease? What if that elder, who is diagnosed with such a condition, erratically spends their money or becomes the subject of potential financial elder abuse? In these situations, it is important to have the proper estate planning documents in place, such as Durable Powers of Attorney and Advanced Health Care Directives, allowing loved ones to help their aging parents manage their finances and healthcare when the time comes. Depending on the situation, Medi-Cal Planning may also be required.
Then one day, Betty came in with her two daughters. Her daughters explained that Betty had been making strange purchases lately, and had paid for a new roof on her house even though the existing roof was fine. Betty admitted her frustration with not being able to remember some of these transactions, or why she agreed to them at all. The family was clearly concerned about Betty’s ability to conduct her own financial affairs, and since one of the daughters lived out of state, much of the burden fell onto the other daughter to watch over Betty. When Betty went in for a doctor’s visit, she was diagnosed with dementia and early stage Alzheimer’s. I talked to the family about how to protect her finances, and what steps were needed to allow her daughters to help their mother keep up with her day-to-day living expenses.
Fortunately, Betty already had a comprehensive estate plan in place that accounted for a situation just like this. Using the documents that she already signed, I was able to assist her daughters in acting as Betty’s attorneys-in-fact. They were able to help her handle her daily expenses and to ensure that the assets remained intact for Betty’s benefit.
* Identities have been changed to protect client’s privacy
A Message from Shirley
Becoming forgetful and absent-minded as we age is something many people joke about, but what happens when that forgetfulness becomes something more serious - and someone’s parent is diagnosed with dementia, Alzheimer’s, or Parkinson’s disease? What if that elder, who is diagnosed with such a condition, erratically spends their money or becomes the subject of potential financial elder abuse? In these situations, it is important to have the proper estate planning documents in place, such as Durable Powers of Attorney and Advanced Health Care Directives, allowing loved ones to help their aging parents manage their finances and healthcare when the time comes. Depending on the situation, Medi-Cal Planning may also be required.
Updating your Estate Plan
My clients Sam and Kim* are 68 and 62 years old, respectively. They met with me recently to update an estate plan they had created many years ago when they left for their first vacation away from their young children. They wanted to have the peace of mind that if anything happened to them on their flight to Thailand, their children would be taken care of. Now nearly twenty years have passed and their “young children” are now adults with their own children. Furthermore, their two sons have taken very different paths in life. Their older son is a successful, self-sufficient IT director, while their younger son is currently unemployed and struggling with alcohol addiction. While they supported their son’s rehabilitation, they were very concerned about that son’s creditors trying to gain access to his inheritance for payment of his debts.
With my advice and guidance, Sam and Kim updated their estate plan with instructions that their older son would receive his inheritance outright, while their younger son’s inheritance would be kept in a special needs trust to protect his inheritance from creditors. This was a good solution that did not penalize either son for the direction each one has taken and addressed Sam and Kim’s concerns about preserving the inheritance from their younger son’s creditors.
* Identities have been changed to protect client’s privacy
A Message from Shirley
As important as it is to create your estate plan, it’s just as important to have the estate plan reviewed periodically to ensure the documents are still up-to-date and current with the latest changes in the law. For instance, many people create their estate plan when their children are young, but neglect to revise the documents as their families grow. It is always advisable to meet with a trust and will attorney to periodically review your Estate Plan, and make sure it is up to date.
With my advice and guidance, Sam and Kim updated their estate plan with instructions that their older son would receive his inheritance outright, while their younger son’s inheritance would be kept in a special needs trust to protect his inheritance from creditors. This was a good solution that did not penalize either son for the direction each one has taken and addressed Sam and Kim’s concerns about preserving the inheritance from their younger son’s creditors.
* Identities have been changed to protect client’s privacy
A Message from Shirley
As important as it is to create your estate plan, it’s just as important to have the estate plan reviewed periodically to ensure the documents are still up-to-date and current with the latest changes in the law. For instance, many people create their estate plan when their children are young, but neglect to revise the documents as their families grow. It is always advisable to meet with a trust and will attorney to periodically review your Estate Plan, and make sure it is up to date.
Guiding a Trustee
I met with Dan*, a 47-year-old process engineer who had become the successor trustee of his brother’s trust estate when his brother died at the early age of 41. Dan was unsure how to administer his brother’s trust, uncertain how to gain access to his accounts so he could start paying funeral and medical bills, and unaware of what he needed to tell his brother’s beneficiaries, which included the church his brother attended. Also, Dan worked long hours himself and had his own family to take care of. He could barely keep up with locating all of his brother’s bank account and brokerage statements, let alone know what to do with them or how or when to contact them.
By retaining my services, Dan had more time to deal with his own work and family. I was able to handle the administrative duties on Dan’s behalf, including notifying and keeping all beneficiaries informed, gathering data on all of the trust estate’s assets, getting Dan access to those accounts so bills and expenses could get paid, and providing the necessary assistance to complete the trust administration in an efficient and organized manner.
* Identities have been changed to protect client’s privacy
A Message from Shirley
After a living trust is created, most people assume there is nothing left to do, only to learn there are procedural duties owed by a “Successor Trustee” when the Settlor, the person who signed the trust, dies. A “Successor Trustee” who is unaware of these procedural duties may become frustrated. However, the reality is that these extra duties can be expertly accomplished with the assistance of an experienced trust and will attorney. Don’t be discouraged by the tasks involved in administering a living trust. This process is far easier, more expeditious, and completely private – a better alternative than going through the probate process. Once the Trust Administration is complete and the Tax Planning issues understood, it may not be as overwhelming as it initially felt before you found the right legal advisor to help guide you through the process.
By retaining my services, Dan had more time to deal with his own work and family. I was able to handle the administrative duties on Dan’s behalf, including notifying and keeping all beneficiaries informed, gathering data on all of the trust estate’s assets, getting Dan access to those accounts so bills and expenses could get paid, and providing the necessary assistance to complete the trust administration in an efficient and organized manner.
* Identities have been changed to protect client’s privacy
A Message from Shirley
After a living trust is created, most people assume there is nothing left to do, only to learn there are procedural duties owed by a “Successor Trustee” when the Settlor, the person who signed the trust, dies. A “Successor Trustee” who is unaware of these procedural duties may become frustrated. However, the reality is that these extra duties can be expertly accomplished with the assistance of an experienced trust and will attorney. Don’t be discouraged by the tasks involved in administering a living trust. This process is far easier, more expeditious, and completely private – a better alternative than going through the probate process. Once the Trust Administration is complete and the Tax Planning issues understood, it may not be as overwhelming as it initially felt before you found the right legal advisor to help guide you through the process.
Creating Separate Property Trusts
Roger’s* first wife died when he was 67 years old. Roger ran a car repair shop, which was a family run business that employed all his five children. He later met Angela*, who was 52 years old, and wanted to re-marry. Roger realized that since he wanted to provide for both his new wife and his children, he needed to have his estate planning documents completed. Those documents were drafted by an estate planner prior to his marriage to Angela, and were meant to express Roger’s wish to give his residence to Angela and the family business to his children.
When Roger died, I met with Tony* and Helen*, two of Roger’s children, who were already embroiled in a bitter dispute with their stepmother Angela. Tony and Helen were almost the same age as Angela, at 55 and 51 respectively. When I read Roger’s estate planning documents, it was evident that the estate planner who had drafted Roger’s documents did so incorrectly, allowing Angela an opportunity to assert rights to more of the assets than Roger ever intended. I represented Tony and Helen in the litigation of this contentious case for nearly three years. I helped them provide an accounting of the family business in order to show that no community funds were used to infuse the repair shop – and therefore deny Angela’s claim to part of the business.
Ultimately, the Court ruled in Tony and Helen’s favor. However, the resulting verdict cost both parties large amounts in attorney’s fees. Had Roger’s living trust been written more carefully, it would have eliminated Angela’s ability to assert additional rights to Roger’s other assets as a surviving spouse. While happy to be vindicated, Tony and Helen frequently lament how all of this could have been avoided if their dad had gone to a more experienced estate planner.
* Identities have been changed to protect client’s privacy
A Message from Shirley
As people get married and have children later in life, frequently both partners have built up significant assets of their own prior to marriage. Whether a first marriage or second marriage, it may be advisable for individuals in these types of situations to look into creating separate trusts before they co-mingle assets. Specifically when individuals re-marry, there is a higher risk of litigation that could ensue between the stepchildren and stepparent. It is crucial that these Estate Plans be prepared by an experienced trust and will attorney with Litigation experience to minimize the chance of disputes.