By Orange County Estate Attorney Darlynn Morgan It’s not inherently bad if your son-in-law or daughter-in-law receives your child’s inheritance; after all, he or she is part of the family. Ideally, if an in-law ends up with the family’s money (say your adult child passes away first), it’s always the hope that the in-law will …
3 Ways Your Child’s Spouse Can End Up with the Family’s Money Read More »
Self-made billionaire Warren Buffet once famously said, “Leave your children enough money so they can do anything, but not enough that they don’t have to do anything.” Commodore Vanderbilt’s grandson, an heir to some $60 million in 1885, also once declared that “inherited wealth is as certain death to ambition as cocaine is to morality.” …
Estate planning for a married couple is often pretty straightforward: you leave all of your property and money to your spouse, who also takes care of the minor children. But what happens if both parents pass away unexpectedly, or if you’re a single parent creating an estate plan? Parents will usually say “then the children …
Orange County Estate Planning Lawyer: How to Leave Money or Property to Minor Children Read More »
By Orange County Will and Trust Attorney Darlynn Morgan As people get into their senior years, it is natural to start thinking about the end of life. Those thoughts can bring about concern regarding the type of inheritance to leave to adult children, and exactly how to carry out your wishes when passing down your …
By Orange County Trust Lawyer Darlynn Morgan Just about everyone knows or loves someone with a substance abuse problem. The detrimental effects impact many facets of American society. Sadly, we are seeing an upswing in the number of clients that have to deal with a loved one’s substance abuse in their estate planning. Most parents …
This may sound like a situation from a movie, but it happens more than you can imagine: a long-lost child appears after the death of their parent. This is an alarming situation for many reasons, but people often wonder if that child has a claim against the deceased’s estate. As an Orange County estate planning …
The majority of people we see in our Orange County estate planning law firm name their adult children as beneficiaries of their estate plan. In most cases, this works well because children typically outlive their parents. But, what happens when a child dies before the parent? What becomes of the inheritance that a parent plans …
It’s always best practice for a person to write down one’s intentions for their property when they die. However, many people still die intestate (without a will), and their intentions aren’t known. Often, however, these people’s heirs may make a claim that the deceased orally stated what their intentions were. These assertions may very well …
Actions Speak Louder than Words: When Will an Oral Estate Agreement Be Enforced? Read More »
In my years as an Orange County estate planning lawyer, it still surprises me to hear how uncomfortable people are discussing estate planning issues. Even families who are open to discussing their financial situations get squeamish when the word “inheritance” is brought up. However, like everything in life, the more you know the better. Experience …
As an Orange County special needs lawyer, I often receive questions about whether a disabled individual can continue to receive benefits after receiving an inheritance. The answer is that it really depends on the type of benefit that is being collected. Social Security Disability Insurance (SSDI) SSDI is a government benefit that helps those with …