San Mateo California Estate Planning Law Blog

When a person in California dies, their loved ones will grieve. However, this grief is only amplified if the person's survivors disagree with the contents of the person's trust. Sometimes, these disagreements are small enough that the parties involved can resolve them on their own. But, these disagreements are so big that they lead to trust litigation. This may be especially true if one party believes the deceased was unduly influenced when he or she executed or modified the trust.

For example, as a person ages, they start to lose their physical and mental abilities. When such persons are vulnerable, a loved one might try to influence their estate planning. Though, to constitute undue influence, the person's actions must go beyond mere nagging. The person's behavior needs to be so extreme that it leads their aging loved one to give in and modify their estate plan in a way that either favors that person or disfavors other beneficiaries.

Home may be where the heart is, but when a couple divorces, the home is not just a place with sentimental value -- it is often one of the couple's most financially valuable marital assets. Some spouses in California may be eager to leave what was a place filled with unhappy memories, while other spouses may be itching to stay established in the home they have been in for years, especially if they have custody of the children. However, there are important things to consider when it comes to the family home and divorce.

If a spouse wants to keep the family home, they will have to consider the expenses associated with home ownership. For example, repairs are inevitable, the mortgage will need to be paid, as will taxes and insurance. Moreover, once the divorce is final, the party keeping the home will be responsible for these costs on a single income. Therefore, before fighting for the family home, it is important to consider whether one can actually afford the home post-divorce.

Building an estate plan is not a simple process, especially in states like California, which carries more regulations and additional taxes than many others. Once a person begins looking into estate planning, they might easily get overwhelmed by the variety and complexity of the financial planning tools available.

This is perfectly reasonable. After all, estate planning professionals study the field for years and regularly review new laws and financial tools to make sure they maintain a clear, functional understanding of changing guidelines. While it is certainly possible for individuals to build their own estate plan without any guidance, the risks to doing so are enormous.

Estate planning isn't just about making sure your wishes are met. It is also one of the greatest gifts you can give to your loved ones. With a complete, enforceable estate plan in place, your loved ones will know what your medical wishes are, how you want your assets handed down, and who you want to make decisions on your behalf. Thus, an estate plan can help your loved ones cope with your incapacity and death when the time comes.

However, some people in San Mateo may not have executed an estate plan. They may think that because they are not wealthy, they do not have anything of value to pass down. However, even items that have more sentimental value than financial worth could still be hotly contested between one's heirs if there is no estate plan in place to dictate who is to inherit what.