Passing It On: Estate Planning for Families Michael Pevney
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- Business
California estate planning lawyer Michael Pevney discusses various topics regarding the important world of estate planning. Living trusts. Revocable trusts. Wills. Durable power of attorney. Advance healthcare directives. Estate planning is extremely important for every family that wants to control what happens to their bodies and their property both while they're alive and after they pass away.
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Trust are private documents, to a point. They are typically not filed with any government agency, bu
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trust are private documents, to a point. They are typically not filed with any government agency, but when the person who creates the trust passes away, typically children of that person have the right to see the trust. #Privacy #Trustee #EstatePlanning #LivingTrust #FillThatBucket #Pevney #financialfreedom #orangecounty -
A trust is usually better than a will, for passing along real estate for four reasons. Cost, control
Free Estate Planning Strategy Session for California Residents
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a trust is usually better than a will, for passing along real estate for four reasons. Cost, control, privacy, waste of time.#EstatePlanning #LivingTrust #FillThatBucket #Pevney #financialfreedom #orangecounty -
You might be able to transfer real estate using a power of attorney document, if that power of attor
Free Estate Planning Strategy Session for California Residents
www.ocestateplanlawyer.com
you might be able to transfer real estate using a power of attorney document, if that power of attorney specifically allows you to engage in real estate transactions and estate planning. Powers of attorney are very important, estate planning documents, and must be written very carefully and understood by all parties. #Power of attorney #Realestate #EstatePlanning #LivingTrust #FillThatBucket #Pevney #financialfreedom #orangecounty -
Avoid probate with a living trust. Probate is expensive, putting property inside of trust
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#onthisday avoid probate with a living trust. Probate is expensive, putting property inside of trust, avoids that cost. You have a lot of control from beyond the grave with a trust that you do not with a will or worse, no estate plan at all. Time and hassle. Probate often takes 18 months to two years to get through. #EstatePlanning #LivingTrust #FillThatBucket #Pevney #financialfreedom #orangecounty -
Inheritances are separate property, even if you live in a community property state like California.
Free Estate Planning Strategy Session for California Residents
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inheritances are separate property, even if you live in a community property state like California. The very smart thing to do would be to sign a postnuptial agreement making clear what property is separate property. However, an inheritance could be kept a secret as long as it is kept completely separate and never commingled with community property, #PostUp #Prenup #Inheritance #EstatePlanning #LivingTrust #FillThatBucket #Pevney #financialfreedom #orangecounty -
A home with a mortgage, if it’s your primary residence can go inside of a trust. This is
Free Estate Planning Strategy Session for California Residents
www.ocestateplanlawyer.com
Lynn Young a home with a mortgage, if it’s your primary residence can go inside of a trust. This is based on a federal law that was passed over 40 years ago. And guess what, the bank can’t force you to pay back the entire loan. #Mortgage #Loan #Real estate #EstatePlanning #LivingTrust #FillThatBucket #Pevney #financialfreedom #orangecounty