Reaching out to Elderly Neighbors

As the baby-boomer generation beings to enter their 70’s, more and more of our neighbors will be in need of additional assistance. Many older folks will have family and friends who come by to check on them regularly, and sometimes they will even live with their family in multi-generational housing situations. But for all of the septuagenarians that have someone to look out for them, many folks will not be so lucky.

Looking out for our neighbors is one of the greatest gifts we can give our community. Small kindnesses go a long way to lift spirits and build relationships. A bit of extra work on your part may be a huge relief to an older neighbor. Offer to pick up something from the store if you are already going. Mow their yard if you are already doing your own. See if their dog needs walking when you are out for a stroll.

Financial matters are often private, but it can be another subject that older neighbors need the most help with. Often older individuals are targeted by scammers and fraudsters because of the inherent vulnerability of the population. One of the best things neighbors can do for each other is point out these scams and make sure no one falls victim to their perpetrators.

If an elderly neighbor brings up a family member or caregiver pressuring them for money or other gifts, that should be brought to the attention of the authorities immediately. This type of pressure from a trusted source is very stressful for elderly persons who may depend on those caregivers or family for their very life. There are specific provisions under California Law that prohibits this type of abuse, and prevent the abusers from gaining financially from this activity.

Establishing an estate plan free from undue influence and abuse is everyone’s right, so if your neighbor is interested in doing so, they can contact Tresp Law, APC. We are happy to meet folks of all ages who want to ensure their property is bequeathed exactly how they envision.

---

Legal Advice Amidst the Coronavirus

Kiplinger posted an article yesterday about the impact recent events have had on consumer urgency regarding estate planning. The current COVID-19 outbreak and related market turmoil serves as a wake-up call to many business-owners, retirees, and even ordinary homeowners to think about what would happen with their estate if the outbreak impacted to them.

 In response to concerns related to social distancing, and out of care for our staff, we have ceased in-person consultations for the time being. However our Estate Planning Attorneys now set face-to-face consultations using video conference technologies such as FaceTime, Duo, Skype, or Zoom.

Our firm’s advanced cloud-computing real-time collaboration technologies enable us to execute your estate plan remotely from our offices in Solana Beach and Pacific Beach, or even from the homes of our excellent attorneys.

https://www.kiplinger.com/article/retirement/T021-C032-S014-coronavirus-legal-advice-get-your-estate-in-order.html

---

DIY Estate Planning: Yes or No?

In this holiday season, with the New Year fast approaching our thoughts often turn to planning for our family’s future, in the New Year and perhaps beyond. Daily advertisements encourage us to plan for retirement, college savings, elder care, and our future medical needs. Often, we see do-it-yourself options promoted for such services. Rather than the expense of a financial planner, they tell us to pay “$5.95 per trade” and more. Discounts abound, and we all love discounts.

Frequently, new clients describe frustration with wills and trusts left by their deceased loved ones that were not properly written or updated, and arguments among the family members often ensue, or the need for court intervention, or contentious litigation for far too many. Unfortunately, many clients discover far too late that their issues could have been avoided, but their loved ones’ testamentary documents were created with a “do-it-yourself” or discount service; not with the expertise and guidance of a knowledgeable and experienced estate planning attorney.

 A simple internet search can result in countless advertisements promoting a “$395 estate plan” or “discount document preparation service” or even promotions of a “free will” or “$69 will” by some of the largest do-it-yourself providers. All of these services come with a disclaimer of responsibility for the mistakes that are often made when venturing into the creation of legal documents unguided. And understandably so!

 The law is complex and highly specialized, even for experienced practitioners. Judge Simon K. Rifkind, who practiced the law for 70 years, once said, “after 50 years of practice, I would no more have the audacity to formulate my own tax return than I would engage in open-heart surgery.”

 Taking the DIY estate planning route is tempting, for sure. We all like to save money. Research on the internet and the ease (and immediate gratification) of getting your will or trust done, if you can figure out what exactly you need, makes the DIY route tempting. We understand that!

 We have trust and probate litigation cases that turn on the interpretation of one word written in a document. One word! Don’t let that be you. Take the time to sit down with an experienced estate planning attorney, preferably one who understands trust and probate litigation avoidance, and take control of your and your family’s future.

A Brief Introduction on the Importance of Planning for Your Future

In this day and age of the internet and do-it-yourselfers, it is easy to underestimate the importance and complexity involved in preparing your estate plan.  Planning for your death and incapacity is not a simple task to take on by yourself. Once you become incapacitated or pass away, you are no longer present to state your desires and ensure they are enforced. A Revocable Trust ensures that your wishes are laid out, and if done properly and clearly, enforceable along with tax planning and provisions to protect your estate. Therefore, it is of the utmost importance to have professional assistance when planning.  

We all know that every family operates differently and sometimes these differences can cause unnecessary stress and complication, having a well-recognized estate planning attorney like Elizabeth and her team can add a new perspective and create a voice of reason within the family dynamic. Not only is the family aspect something to consider but the legality of the provisions in your trust as well. Each state has specific regulations on what can and cannot be declared within a trust, this can make the process of planning even more complicated especially if you have assets in different states.

Whether your assets are large or small hiring a professional will help maintain your desires and ensure you are being legally compliant in these goals.  

---