Estate Planning

For Everyone You Love and Everything You've Built

If something unexpected happens to you and you haven't planned for everyone you love and everything you have, the State of California has a default plan for you.

 

Sound scary?  Well, it can be. Those you love would have to deal with the red tape and bureaucracy of government procedures and regulations.

 

We at Sky Unlimited Legal Advisory help you understand the legal and financial consequences of not having a comprehensive Estate Plan to protect your loved ones ... and more.

 

Before meeting, we'll ask you to complete a Family Wealth Worksheet, which will help you understand what you own and what needs to be decided for the well-being and care of your loved ones and cherished belongings.  We'll meet for a Family Wealth Planning Session™, where we spend some time together reviewing this document.  You'll learn about our Planning for Life process and we will both decide if it makes sense to work together to design an estate plan that will best suit the needs of your family.

 

The foundation of your estate plan will often include a revocable living trust, which when done properly and maintained over time, should help your family to avoid the cost and delay of probate and minimize or eliminate estate taxes. 

 

At Sky Unlimited Legal Advisory, we do not offer a "one size fits all" estate plan.  We form a working relationship with our clients.  We educate you, take the time to get to know you and your family.  We will discuss your concerns, your goals, and will gladly and patiently answer all of your questions.  Our goal is to create an estate plan that is exactly right for you.

 

Our services include a no-charge three-year review to ensure that as your lives change, so will your estate plan to safeguard your assets for maximum protection.

 

If this sounds like the kind of relationship you're looking for, please call us at (650) 761-0992 to schedule your personal Family Wealth Planning Session™ today or schedule online now.


Having a will simply is not enough.  It doesn't guarantee the care of your children if the unthinkable happens!  See how we do it differently...

The strategies that are appropriate for protecting your assets are different for every family.  Check out our proven process that gives you peace of mind...

Our unique legacy process gives your loved ones a precious gift - a lasting expression of your love.  Find out what we offer with every plan... 



Estates Weekly

Articles from the Chief Counsel's desk.  Sign up for our newsletter to receive these in your email with additional discounts, offers and rewards.

Think Your Kids Will Automatically Be Cared For In The Way You Want? They Might Not Be Unless You Do This

As parents, we're hardwired to prioritize our children's well-being above all else. We work tirelessly to provide for them, nurture them, and ensure they have every opportunity to thrive.

Yet, amidst the hustle and bustle of daily life, it's easy to overlook a crucial aspect of their future: what happens to them if we're no longer here to care for them?

 

It's a sobering thought, but one that deserves your attention. You may assume that in the event of your untimely passing, your children will automatically be cared for and inherit your assets. However, the reality is far more complex and potentially unsettling.

 

Let's unpack why relying on these assumptions could leave your children's future in uncertain hands.

 

The Myth of Automatic Care

Yes, it's true that your children will inherit your assets upon your passing. However, without advance planning, the management of those assets will fall into the hands of a court-appointed trustee. This is an expensive proposition for the people you love most, and worse, the trustee may not necessarily align with your values or financial philosophy, leaving your hard-earned assets vulnerable to mismanagement.

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Love Your Business? Love Your Family? Then You Need A Succession Plan

You've put blood, sweat, and possibly a few tears into building your business from the ground up. You've got the vision, the drive, and the occasional coffee stain on your favorite tie. But have you thought about what happens to your business once you decide to hang up your entrepreneurial hat?

And even more importantly – have you thought about what happens to your loved ones if you’re forced to leave your business unexpectedly because you die or become ill?

 

Like most entrepreneurs, your business and your family are your greatest loves. Show them just how much you care for them by making sure there’s a plan in place for their care, and the management of your business, when you’re no longer at the helm.

 

The Business Owner's Dilemma

Picture this: You're lounging on a beach, sipping a colorful drink with an umbrella, and basking in the glory of retirement. Sounds dreamy, right? Now, imagine your business, left to fend for itself like a lost puppy in a rainstorm. Without a clear plan for succession, your business could face uncertain times ahead, and the thought of your hard work going down the drain is anything but relaxing.

 

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Want to Show Your Partner How Much You Love Them? Put Them In Your Trust

Love is undoubtedly the most profound and cherished thread that weaves us all together, and there are many different ways to express our love to the people who mean the most to us.

Love is undoubtedly the most profound and cherished thread that weaves us all together, and there are many different ways to express our love to the people who mean the most to us.

 

Often when we think of showing our love, we think of bouquets of flowers, surprise gifts, and meaningful notes.

 

But an often overlooked – and incredibly meaningful – way of showing your love is to put that love into a plan for the future.

 

While estate planning may seem like a realm of financial jargon and legalities, it is, at its core, a tangible expression of your care for those closest to you. (And that’s why I refer to estate planning as Life & Legacy Planning).

 

In this blog article, we'll look at why adding your partner to your Trust, Will and estate plan as a whole isn’t just a romantic gesture but the ultimate act of love.

 

 

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2 Conversations About Money And Death You Need To Have With Your Parents Right Now

If you’ve given any thought about estate planning, you probably associate it with preparing for death. But did you know that there are critical reasons (and significant benefits) for planning while you’re still well and alive?

That’s why I refer to my services as Life & Legacy Planning.

 

When done right, planning for your assets and your death is something that should start right now through honest, open conversations with your family.

 

It starts by talking with your parents, siblings, and children about what you want the future of your family to look like, how you’d like assets managed, and what type of care each family member would want in the event of a debilitating or terminal illness.

 

You may have already started a conversation about estate planning with your family.

 

But this week, I dive deeper into the conversations you need to have right now to truly understand your family’s financial picture and plan for the future in the best way. Keep reading to learn the two conversations about money and death you need to have right now.

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Protecting Your Family's Safety Net: How To Set Up Your Life Insurance Policy The Right Way

A comprehensive Life & Legacy Plan is about creating a strategy that lets you enjoy your life to the fullest while protecting your loved ones' future when you can no longer be there.

It might seem like life insurance is an easy way to help secure your loved ones’ future – and it is – but your policy must be set up in the right way to have the best possible impact on your family.

 

The way you set up your beneficiary designations on your insurance policy can significantly impact its effectiveness, how it’s used, and who controls it after you die.

 

In this blog, we'll explore how not to name beneficiaries on your life insurance and how to name beneficiaries to ensure your loved ones have the funds they need to thrive when something happens to you. 

 

DO NOT Name a Minor As The Beneficiary of Your Life Insurance Policy  

Naming your child or grandchild as a direct (or even backup)  beneficiary of your life insurance policy may seem like a natural choice, but if you do that you’re guaranteeing a bad outcome for the people you love.

 

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Got Minor Kids? 3 Instances When Your Estate Plan Must Include A Kids Protection Plan®

As a parent, you have probably thought about the importance of naming permanent legal guardians for your child in case something happens to you, and maybe you have already done it. If you haven’t yet, take this as the sign that now’s the time to do it, in case the unthinkable happens to you.

Here’s a free website where you can name legal guardians for your littles, right now.

 

But in some cases, naming permanent legal guardians for your child may not be enough to guarantee your kids will always be cared for in the way you want by the people you want. And, there may even be a risk of your kids being taken into the care of strangers or someone you would never want.

 

Read on to find out if that’s the case for your family, and if it is, contact us ASAP to get your Kids Protection Plan in place. 

 

You Leave Your Kids With Non-Related Caregivers 

If you ever leave your minor kids with a caregiver who isn’t a grandparent, aunt, or other family member that the authorities would naturally leave your kids with if something happens to you, this is what could happen.

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This Change To The FAFSA Rules Could Help Your Grandkids Qualify For More Student Aid

Want to contribute to your grandchild’s future college education? The FAFSA Simplification Act, which went into effect last month, now makes it possible for grandparents to do even more to help finance their grandchild’s education.

In the past, any contributions or distributions from a grandparent's 529 college savings plan were subject to FAFSA reporting, potentially impacting the student beneficiary's eligibility for federal financial aid. The new changes, however, bring a breath of fresh air. 

 

In this blog, you’ll learn what has changed under the new rule and how grandparents can leverage it to support their grandchild's educational pursuits.

 

Understanding the 529 Account

First things first – what exactly is a 529 college savings account? It's a special savings account designed to help individuals, including grandparents, set aside money for future college expenses. Contributions aren't federally tax-deductible, but the good news is that earnings within the account grow tax-free. When funds are withdrawn for qualified education expenses, they remain untaxed.

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Your Most Important New Year's Resolution: A Kids Protection Plan

As we welcome the New Year, filled with hope and resolutions for a brighter future, if you have minor children or grandchildren, put this commitment at the top of your list: a Kids Protection Plan ®.

Even if you have already named legal guardians for your children (or your siblings have done it for their kids, or your kids have done it for your grandchildren), most people … even lawyers! … make 1 of 6 common mistakes when naming legal guardians. And, if you (or your siblings or your children) haven’t named legal guardians for minors you care about, make it your New Year’s resolution is to take care of the little ones in your life before the end of this month.

 

It can be hard to think about a future where you couldn’t be there for the people you care about the most, but having a plan in place will ensure the little ones you love stay in the care of the people they know and trust in the event you become incapacitated or die. If you do not take action, the decisions about their care could be left up to chance, or to whichever judge is overseeing the family court at the time something happens. 

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What Caregivers Need to Know About Estate Planning For A Loved One With Dementia - Part 2

Last week, we began exploring the complexities of estate planning for a loved one living with dementia.

The first part of this article series delved into how a dementia diagnosis impacts their capacity to protect their wishes through thoughtful estate planning. We covered: 

  • What it means to have mental capacity or be incapacitated
  • How dementia affects capacity for estate planning purposes
  • The essential estate planning tools a person with dementia needs to create right away

However, as dementia progresses, estate planning must become more proactive and strategic than ever to avoid court and conflict over your loved one’s wishes in the future. If dementia becomes too advanced before planning is complete, the question of who will manage your loved one’s assets and care will be left to a judge who doesn’t know your loved one or their wishes.

 

Keep reading to learn what steps need to be considered when estate planning for someone with more advanced dementia.

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What Caregivers Need to Know About Estate Planning For A Loved One With Dementia - Part 1

Caring for a loved one with dementia is a challenge that millions of families undertake each year. As a caregiver, understanding how a dementia diagnosis affects your loved one’s legal decision-making is crucial to ensuring their wishes are honored and that you are providing them with the best possible care.

In this blog, we'll explore the importance of estate planning, even after a dementia diagnosis, as the best method to ensure the wishes and rights of your loved one are protected.

 

Understanding Incapacity

Dementia is a progressive condition that affects memory, cognition, and daily functioning. As dementia causes your loved one's cognitive abilities to decline, there may come a time when they are no longer able to make sound decisions about their finances, healthcare, and overall well-being. 

 

When the effects of dementia make it difficult for a person to understand information and make sound decisions, that person is considered to be incapacitated, which means they can no longer legally make healthcare or financial decisions for themselves. This change in their memory and cognition can be emotionally overwhelming for both your loved one and your whole family, and without proper planning, can require court involvement.

Read More

 

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