Awesome estate planning law firm Orange County, California with Darren Veracruz: Living Trusts: Having a legal document that details what should happen to your assets upon your demise is a vital part of estate planning. One way to make sure that your final wishes are met is to create a living trust. There are three distinct benefits of creating a living trust; avoiding probate, saving money and maintaining the privacy of your estate. Probate Administration: Administering the estate of a person transferring their assets with a will or those dying without estate planning documents has benefits but the process is complicated and time consuming. We can help you understand your choices. Read even more info on https://iecn.com/rep-aguilar-announces-35-million-in-bold-move-to-combat-san-bernardino-homelessness-via-lutheran-social-services/.
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.
Quality trust & probate law firm Orange County, California from Darren Veracruz Law: Share any designations and make sure all parties are willing and able to take on the associated responsibilities. It’s also important that your loved ones understand and are willing to accept any role for which you have selected them. If you have named your sister and brother-in-law as guardians of your minor children, for example, you’ll likely want to sit down and discuss with them what that means to you, and understand what that means to them.
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.
The second document is what we call a California Statutory Power of Attorney. This is the document that most banks and financial institutions are familiar with and therefore we recommend it. However, it doesn’t cover the universe of things that could or might happen, so we typically recommend augmenting that with a second documents, an expanded Durable Power of Attorney that is custom drafted. The third document that is critical to have as part of your child’s estate plan is the HIPAA Authorization for Release of Information. A properly drafted global HIPAA allows the nominated parties to receive medical information about the condition of the person who has signed the release. If your child is injured and taken to the hospital, the hospital is technically not supposed to release information about their condition or even that they’re at the hospital to anyone. But if your child executes this release, you can fax this to the hospital or present it in person and they will be able to release information to you. Read additional details at Darren Veracruz Attorney.
If the inheritor is a resident of another state or someone who is not an immediate family member, a typical transfer of gun ownership is managed by a Federal Firearms Licensed (FFL) dealer. The process is detailed and includes: A mandatory 10-day waiting period; The completion of a Dealer’s Record of Sale; A background check with the Department of Justice in the state where the beneficiary lives; A Firearm Safety Certificate must be held before taking possession of any firearm in California.