Blog

Most advisors recommend waiting as long as possible to begin collecting Social Security benefits. Suze Orman, a contributor to AARP Magazine, makes a strong case for this approach. She argues that with people living longer than ever before, 70 is the new 65. What concerns her the most is not fund...

According to a two-year study, healthy eating, brain training, exercise, and sound medical management may prevent age-related cognitive decline and, perhaps, dementia. The study sampled 1,260 people, aged 60-77, randomly assigning one group to receive some general health advice and another group to follow a special program.

Deciding whether to choose a Roth IRA or a Traditional IRA is an important decision and can have major financial consequences. Both options, however, are excellent ways to save for retirement. Let’s look as some of the biggest differences between the two. You can always contact us so that we can refer you to a financial planner for these decisions. Give us a call at (805)946-1550 if you would like some advice.

It goes without saying that you and your child's other parent should name the same guardian for  your children. But what if you are divorced, or for whatever reason you and your spouse cannot  agree on the most suitable guardian? Naming different guardians will lead to a battle in court  should y...

Many people are confused about the difference between a living will and a healthcare power of attorney. A living will specifies life prolonging treatments you do or do not want in the event you either suffer from a terminal illness or are in a permanent vegetative state. It does not become effect...

Serving as a caregiver may require you to oversee your loved one’s legal affairs. A recent article on AARP’s website addressed this issue and included a legal checklist for Caregivers. Here are the highlights.

An “I Love You Will” is a last will and testament in which the testator—the person who makes the will—leaves everything to his or her spouse. If you have thought about making a will in the past, you likely considered this approach. Perhaps you have already created such a will. If you would like c...

When your children turn 18 they are legal adults. They might not act like adults all of the time, and you may still be supporting them financially, but in the eyes of the law they are indeed adults. This means that you can no longer make certain decisions for them, including health care decisions. Furthermore, you can no longer obtain medical information about your adult children without their authorization—even in an emergency.

Whenever a new president takes office, “discussions” about taxes are sure to follow. During his campaign, President Biden proposed a number of changes to the tax code that would affect wealthy Americans. One proposal, however, could impact people of more modest means: modifications to, or the elimination of, the basis step-up rule. Do you think this will affect you? Be sure to read this summary article, but we can discuss this in a Zoom or in-person consultation. Make an appointment at (805)946-1550.

The Food and Drug Administration (FDA) has approved a drug purported to slow the progress of Alzheimer’s disease. However, the decision is not without controversy. A recent article by AARP explores this subject in some detail. Here is a synopsis.

When we hear the word legacy, many of us think of money left to people and institutions that have come to mean the most to us over the course of our lives. But your legacy is much more than that. It includes your memories, values, wisdom, family history, and more that do not necessarily have mone...

A Last Will and Testament is an essential legal document that allows you to accomplish a number of important goals. You can name your beneficiaries and specify the assets you want them to receive; name a guardian for your minor children; and choose the person you want to settle your estate (known...

A reverse mortgage is a loan that allows homeowners age 62 or older to borrow against the equity in their homes and receive a lump sum, a fixed monthly payment, or a line of credit. Reverse mortgages are often used by seniors to augment their income in retirement. Contact Santa Barbara Estate Pla...

According to the Urban Institute, state and local governments collected a total of $547 billion in revenue from property taxes in 2018, translating to 17 percent of the general revenue. Now, in 2021, many Californians are being forced to confront the possibility of significantly higher proper...

When we think about heirs fighting over assets, it is the big ticket items that typically come to mind, such as the family home, investments, bank accounts and the like. However, it is often items of sentimental value—a mother's necklace, for example, or a father's watch—that cause the most con...

Okay, so you popped the big question, and he or she said yes! Whew, what a relief! Now there's so much to do, so many plans to make: the guest list, the invitations, the reception, the band, the cake, the honeymoon…  the prenup? While it is hardly the most glamorous aspect of planning a wedding ...

Americans are living longer, according to the Centers for Disease Control and Prevention. As Americans age, they also require long-term healthcare. In the United States, Medicaid is a federal and state program providing low-income and vulnerable people with coverage for medical costs and nurs...

Last time we looked at planning for blended families in general terms. Now let's discuss some specific trusts that you might want to consider for your family. One such trust, which provides an excellent form of asset protection, is called a Qualified Terminable Interest Property Trust (QTIP...

If you are unsure if dynasty trusts are right for your family, consider reaching out to experienced estate planning lawyers at Santa Barbara Estate Planning & Elder Law for guidance.

Less than half of all Americans have a Last Will and Testament (will), according to Gallup polls. Far too many people assume that estate planning is only relevant to elderly people or wealthy people. However, the fact is that everyone should have an estate plan. Not only should everyone have ...

These three legal documents have similar names but they are quite different in terms of the estate planning goals they help you accomplish. A will directs how a person's estate is to be administered and how his or her assets will be distributed after death. The person who creates the will is c...