Author Archives: Jay Butchko
Creditor Claims On Your Estate In Probate
As a general rule, when you pass, your relatives don’t have to pay your debt, and they don’t automatically inherit your debt. Your collectors can’t start going after your relatives, just because you pass away (although they can, if your relatives have actually signed on loans with you). However, creditors can, indirectly go after… Read More »
Things You Should Not Put In Your Will
When it comes to drafting a will, many people are concerned that they put everything in the will that needs to be there. They don’t want to overlook anything, and that’s a good strategy. But an equally good strategy is the opposite–making sure there’s nothing in your will that shouldn’t be there. Yes, being… Read More »
What Can An Advance Health Care Directive Do For You?
Estate planning isn’t just about who will get your things when you pass away, or when you are incapacitated. It is also about your medical decisions, and who will make them for you, if you cannot make those decisions yourself. That’s why including health care directives in your estate plan are so important. Appointing… Read More »
Estate Planning Checklist After A Divorce
If you are going through a divorce, you probably think a lot about your immediate needs. Things like where you will live, who will care for the children, and division of assets may be first on your mind, as they should be. However, long term planning like estate planning tends to get put on… Read More »
Leaving Assets To Minors And Others Who May Not Be Ready To Inherit
It is a simple fact of life that we may want to leave money, assets or property to people who can’t handle those assets, or who aren’t ready to handle them at the time that you pass, and the property is passed on. How can estate planning deal with this problem? When the Situation… Read More »
Changing Or Amending A Will In California
Once you make your will, you aren’t stuck with it–you can alter, amend or change it at any time. In fact, you should do it–life and your life situation changes, and if your life changes and your will doesn’t, your will may not reflect what you want to happen. Amending a will is not… Read More »
What Is A Transfer On Death Deed?
Let’s say that you own real property, and you want to make sure that the property transfers to someone else, as quickly as possible, and without going through the court probate process when you pass. Is there a way to do that? There is. It’s called a transfer on death deed, and although it… Read More »
Events That Could Trigger The Need To Revise Your Estate Documents
You did it all-you visited your estate lawyer, drafted your will, trusts, you have letters of administration, some health care directives, and now you’re done. Now that all that’s behind you, you are set….or not quite. Because events in your life can trigger the need to revise these documents. But life changes to some… Read More »
Why Is It So Important To Avoid Probate?
We often discuss why certain state planning methods are beneficial because they avoid probate. But why is it a good thing to avoid probate—why put all this work into avoiding probate? Why is Probate Necessary? When you pass away, your property has to transfer to someone else. It may pass to your beneficiaries by… Read More »
What Is A Payable On Death Account?
A payable on death (POD) account is an easy tool that, while it doesn’t solve every kind of estate planning need, can certainly make things easier when it comes to certain kinds of assets. What is a Payable on Death Account? A POD account (which is sometimes called a Totten trust, even though it… Read More »