T. Owen Rassman

Being a parent is a lot of responsibility, but it becomes even complicated if you are a single parent. According to the U.S. Census Bureau, 27% of kids live with single parents. While estate planning for single parents is similar to estate planning for families, there are certain aspects that demand special attention to make some important decisions as a single parent. Here our estate planning attorney in Carlsbad CA lists the documents required for an estate plan and how they can help you as a single parent. Will Did you know every person over the age of 18 must have a valid will? A will provides you a chance to name a guardian for your children, who is responsible for your estate, and whom you want to give your estate to when you die. Your estate will be distributed according to the state’s plan if you don’t have a valid will. Living Trust Having a properly drafted living trust allows you to be in charge of your assets while you are alive and able. It enables ... Continue reading →

We all know that we need to include estate planning as part of our financial planning task list. But, it is easy to procrastinate, especially if you are not aware of what documents serve your individual needs. Estate planning involves a lot of paperwork, and you need the right documents to ensure your desires are carried out after your death. That is why you need to work with an estate planning attorney Carlsbad CA to prepare a solid, flawless estate plan that serves your needs. Here are the essential documents you’ll need for estate planning:- Last Will and Testament A last will or a trust may sound expensive and complicated and always assumed as something only for rich people. This is an incorrect statement. It is one of the significant components of estate planning, even if you don’t have substantial assets. As the name implies, it is a written legal document that states how you would like to distribute your assets after your death. This written document gives ... Continue reading →

Did you know 40% of American adults have a Will or Trust? That percentage drops dramatically for younger age groups. According to a recent research report, only 19% of people age 18-34 have a Will or Trust. The study also found as Baby Boomers pass away, over $68 trillion in wealth will be transferred over the next 25 years. But, despite this huge number, it’s easy for people to delay the process of estate planning. Our estate planning attorney in Carlsbad CA lists the reasons why people delay the process of estate planning. Age Many people delay estate planning, saying that they are too young to do it. But, remember, you are never too young to have an estate plan. Life is unpredictable, and you must prepare your estate plan to protect the future of the people you love. If you don’t have a proper estate plan, they will become broken and couldn’t find the assistance they need. Single Child Some people believe that they don’t want to create an estate ... Continue reading →

  A "Living Will" is a document that allows us to set forth our health care wishes. In a comprehensive estate plan, it’s ideally located within our "Advance Health Care Directive". The terms are often used interchangeably, along with "Power of Attorney for Health Care", but the bottom line is this: if it’s important to you that your health care wishes be known and that someone you trust have the authority to advocate for you in the event you lack capacity to do so yourself, you should execute an Advance Health Care Directive – a document that sets forth your healthcare instructions/wishes (i.e. Living Will) with the nomination of an individual (an "Agent") to carry out such instructions/wishes (i.e. Power of Attorney for Health Care).  Most people prefer not to think about a Living Will, because it forces us to think about falling sick and/or dying. But, as we all know, life is uncertain and unpredictable. All of us, ... Continue reading →

  A small mistake in an estate plan can lead to gigantic consequences after your death. In fact, in many cases, estate planning may not be able to be rectified at all. There are several common mistakes that can make an estate planning defective. However, most of these mistakes can be easily avoided by reviewing your plan periodically and updating it with the help of an experienced probate attorney in Carlsbad CA.  A list of these common estate planning errors include:  1. Having no estate plan in place  A recent survey shows that about only 34% of Americans have a proper will, and about 69% have considered it but delayed. The biggest mistake that often people make is not making a plan at all. With proper planning, you can not only stay in control of your assets while you are alive but you can also control your assets in the event of your mental disability and when you are gone.  If you don’t have a plan at all, you may end up spending unnecessary ... Continue reading →

As Ambrose Bierce says, “Death is not the end. There remains the litigation over the estate, “it is essential to plan your estate while you are young to ensure that it is handled according to your wishes. Death is one of the uncertainties in our life and can come at any time following a debilitating illness or without warning. If you are residing in California and die without a valid will or any other provision to distribute your money and property, your estate is passed to your heirs according to California Laws of intestate succession which is found in the California Probate Code. The court will analyze and supervise the transfer of your property and assessment through a legal process called probate. Estate planning is a complicated process, and one wrong word can change the intent of your will or trust. So, you will need a professional estate planning attorney in Carlsbad CA to help with your estate planning. Still not convinced? Here are a few reasons that justify ... Continue reading →