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Top California Life Insurance Planning Warnings

Los Angeles Probate Attorneys, Sirkin & Sirkin advise families regarding trust, probate and life insurance planning matters.

TOP CALIFORNIA LIFE INSURANCE PLANNING WARNINGS

Purchasing life insurance for your family is one of the most responsible things you can do for your spouse and family.   Below are some of the top insurance planning warnings for families who buy life insurance are:

1.   Don't name minors as outright beneficiaries of life insurance policies.   A Trust for a minor can avoid the guardianship of the estate of the minor in the event the life insurance is to be paid for the benefit of the minor.

2.   Don't name disabled children or  disabled adults as outright beneficiaries of life insurance policies.

3.  Separate life insurance policies payable to special needs trusts from your other assets.

4.  Opt for private life insurance as opposed to work-provided group life insurance policies, as with private life insurance you can maintain the policy even after you leave your employer.

5.  Obtain your spouse's written consent, if you name someone other than your spouse as a beneficiary of your life insurance.

Mina N. Sirkin is a California Certified Specialist Attorney in Estate Planning, Probate and Trust Law.  Sirkin & Sirkin has offices through out Los Angeles County.  Contact: [email protected].  Tel: 818-340-4479. Sirkin & Sirkin: California Trust Lawyer, and Los Angeles Probate Attorneys.

 

 

Beneficiary Rights in California Trust and Probate Estates

Los Angeles Probate Attorneys, Sirkin & Sirkin advise clients regarding probate, trust and estate matters.

Protecting your rights as a California trust or estate beneficiary:

If you are a beneficiary of a trust or estate in California, there are a number of basic steps you can take to protect your rights:

1. Ask for an accounting.

2. Hire an attorney to review the trust or estate accounting.

3. Check the proposed distribution by the trustee or executor, against the accounting, the will and trust.

4. If you see something wrong with the accounting, do not wait to assert an objection. Hire counsel to review the accounting, and make a timely objection.

5. Remember that statute of limitations for breaches of trust are very short in California and as soon as you discover that the trustee or executor may have breached his duties, you must take all the steps to legally protect yourself.

Mina N. Sirkin is a California Trust Lawyer.  She is a Board Certified Specialist Attorney in Estate Planning, Probate and Trust Law, by the California State Bar, Board of Legal Specialization.   Tel.: 818-340-4479. [email protected].   Los Angeles Probate Attorneys.  Our law firm's offices are located in Los Angeles, and San Fernando Valley.  Main Office: Woodland Hills, CA.