Premium estate planning legal services Orange County from Darren Veracruz: If you want to leave money or property to a loved one with a disability, you must plan carefully. Otherwise, you could jeopardize your loved one’s ability to receive Supplemental Security Income (SSI) and Medicaid benefits. A “special needs trust” can avoid some of these problems. Business Succession Planning provides a mechanism for an orderly business succession should an owner decide to transfer his interest due to a voluntarily event, such as retirement, or an involuntary event, such as death, disability, insanity, or bankruptcy. It also affords the co-owners or the business entity the ability to maintain the option or mandatory obligation to purchase the interest from an existing owner in order to restrict outsiders or undesirable business partners from becoming owners. This is often a useful provision for family businesses. Discover additional info on Darren Veracruz.
If you have a minor child and no will, or a will that has no age restrictions, in most states that child will receive their entire inheritance at age 18. Although this is the legal age, not many 18-year-olds are mature enough to responsibly manage a large inheritance. There have been many heartbreaking tales of parents who have failed to plan for their own death, resulting in a child receiving all of their inheritance at age 18 and spending it all in a few short years.
Premium trust & probate law firm Orange County with Darren Veracruz Law: Your conversation need not be consensus seeking. Your loved ones do not necessarily need to agree with your plans. You are the ultimate decision maker for your own estate. But, they still deserve to be heard. While your loved ones may not get a vote, you can choose to provide them with a voice. Doing so will promote understanding and feelings of mutual respect. Shouting, “It’s my money and I’ll do whatever I want with it!” is certainly one approach, but explaining the reasoning behind your decisions and asking questions to try to engage your loved ones will ultimately yield a more harmonious discussion. Listening to your loved ones doesn’t mean you have to change your mind, it just shows that you are respecting their perspective.
Lutheran Social Services of Southern California (LSSSC) was founded in 1944 and has dedicated the last 78 years to providing comprehensive emergency, transitional, and preventative services to at-risk communities. Over the years, LSSSC has expanded its service to eight area centers throughout six counties across Southern California- all aimed to address barriers to access in the areas of homelessness, food insecurity, health inequity, socioeconomic disparity, and education for the underserved. To adequately address these needs, we utilize evidence-based practices to design holistic services that contribute to long-term transformation.
Have your estate planning done. Set the end of the year as your deadline to finally get this completed. Figure out why you have been procrastinating and conquer your fears. If it’s because you don’t have an attorney, ask friends and acquaintances for referrals. If it’s because you aren’t sure who you want to be the guardian for your minor children or who you want to be your executor or trustee or how to divide your estate, your attorney can help you decide. (You can always change your mind later; don’t let these decisions keep you from putting a plan in place now.) If money is an issue, start with what you can afford (a will, power of attorney, health care documents) and upgrade later when you can. Your attorney may also be willing to accept payments. Read even more details on Darren Veracruz Orange County, California.
There are a number of forms involved including: Bureau of Firearms Form 53 – Automated Firearms Request Form – If you are unsure what guns the deceased owned. Bureau of Firearms Form 4546 – Notice of No Longer in Possession – If you cannot locate any of the firearms or do not have them anymore, then you will want to submit this form. This is also a great anti-liability form getting you and your estate out from under any kind of problem or issue that may arise. If a transfer occurs between immediate family, parent and child, grandparent and grandchild, or spouse, you really only need to ensure that the member has a right to own them.