Tag Archives: power of attorney

How to Protect your Digital Assets (Part 3)

Digital AssetsContinuing from our Blog series on Digital Assets, here are a couple ways you can protect you and your family:

Identify your digital assets
You can break them down into broad categories (email, domain, storage, finances, banking, stocks, bonds, securities, taxes, retirement, insurance, credit cards, debts, utilities, businesses, social, media, loyalty and other) and for each asset identify the username, password, account number and any other identifying information necessary to access the asset.

There are many sites to store this information or you can store it to a tangible media source (such as a DVD, portable hard drive or flash drive) or Continue reading

Do You Still Need an Estate Plan if You are Not Wealthy? (Part 2)

Estate-Planning Lawyer Los AngelesContinuing on our estate tax discussion from last month, there are a number of other reasons, besides minimizing estate tax, to consider whether to engage the services of an estate planning attorney:

  • Without an estate plan, the State determines what happens to your property when you die.
  • Without an estate plan, and in particular a trust, the transfer of your estate will require a probate except in the limited circumstance of what is referred to as a “small estate”.  The probate process can be expensive and time consuming.  For example, an estate of $2 million, well under the 2012 $5.12 million threshold in the IRS study, would incur attorneys’ fees set by statute of approximately $40,000.00.
  • Without an estate plan (which would typically include powers of attorney and healthcare directives), should you become ill or incapacitated, your loved ones could not easily step in to take care of health and/other decisions and needs.

So the next time the question of an estate plan comes up and you think to yourself, I have “nothing”, I do not need a plan, do yourself a favor and reconsider.

What Should My Estate Plan Include?

Everyone’s estate plan will vary depending on an individual’s assets and desires on how to distribute those assets.  However, at a minimum, everyone’s estate plan should include the following:

Contact Anker, Hymes & Schreiber, LLP today to speak with our experienced Estate Planning Attorney in Los Angeles regarding your estate plan.

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What is an Advance Health Care Directive?

Formerly called a “Living Will” or “Durable Power of Attorney for Health Care”, an Advance Health Care Directive allows us to deal with the situation where decisions regarding our healthcare need to be made and we are unable to communicate at that time.

The Advance Health Care Directive names an “Agent” (any person(s) of your choosing) to manage your medical and health care affairs in the event you are unable to express your preferences.  The medical professionals will make this determination.

This document, like the Durable Power of Attorney is fully revocable and amendable.

For additional advice and information about an Advance Health Care Directive, please contact our estate panning attorney in Los Angeles today.

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