Estate Planning &Your Legacy - FAQs

Will refinancing a property affect your estate plan? Tilden Moschetti, Esq. of the Moschetti Law Group in Calabasas, CA (https://moschettilaw.com) answers some of the frequently asked questions he and his estate planning law firm gets from clients.

The mortgage business is booming right now. Refinancing is taking a long time because lenders have been inundated with requests. My wife and I just finished ours and it took more than 5 months!

Historically low interest rates have created an almost frenzied environment with homeowners scrambling to refinance their home loans at these low interest rates. Even a few tenths of a percentage point of interest, over thirty years, can make a massive difference in the amount of interest that is ultimately paid on a loan.

For many, it makes perfect sense to take advantage of these interest rates. Besides the associated transaction fees of refinancing, there is frequently little to no downside to refinancing in times like these. However, one often overlooked consideration is the impact that refinancing your home could have on your estate plan.

Hope this was helpful!

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About the Moschetti Law Group:

Moschetti Law Group is an estate planning and real estate law firm located in Calabasas, California. We believe in your legacy and are committed to growing it and protecting it for you and your family.

We built our firm on a set of principles that puts our clients first by providing outstanding representation, aggressive negotiation, and world-class client service and communication. Schedule a consultation to discuss how the Moschetti Law Group can support you and your goals.

You’ve just inherited a Retirement Account. Now What? Tilden Moschetti, Esq. of the Moschetti Law Group in Calabasas, CA (https://moschettilaw.com) answers some of the frequently asked questions he and his estate planning law firm gets from clients.

For decades, common financial planning wisdom has encouraged almost all American workers to maximize their contributions to qualified retirement accounts.

Maximizing contributions to a retirement account can be a powerful way to reduce your current income tax liability, grow your savings exponentially tax-free, and, in most states, protect your savings from claims of creditors. And by and large, this is what most American workers have done.

The result is that Americans have gradually amassed huge amounts of wealth in these types of qualified plans. It is increasingly common for an IRA or 401k to be the highest value item of property that an American owns. For purposes of estate planning, however, it is important to understand that very special rules apply to these types of accounts. Gone are the days when you can write up a quick will or trust and be assured that everything you own will pass to your heirs or beneficiaries according to the terms of those legal documents. Instead, it has become critically important for families to understand both the laws applicable to wills and trusts and the complex laws governing retirement plans. Failure to understand these laws can exact a heavy price. The following are some of the crucial considerations if you end up inheriting a qualified retirement plan.

Hope this was helpful!

MEET with the Moschetti Law Group:

https://estate-and-legacy.com/welcome

Connect with the Moschetti Law Group online:

Visit the Moschetti Law Group WEBSITE:

https://moschettilaw.com

Like the Moschetti Law Group on FACEBOOK: https://www.facebook.com/real.estate.and.estate.planning.lawyers

Follow @moschettilaw on TWITTER:

http://twitter.com/moschettilaw

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About the Moschetti Law Group:

Moschetti Law Group is an estate planning and real estate law firm located in Calabasas, California. We believe in your legacy and are committed to growing it and protecting it for you and your family.

We built our firm on a set of principles that puts our clients first by providing outstanding representation, aggressive negotiation, and world-class client service and communication. Schedule a consultation to discuss how the Moschetti Law Group can support you and your goals.

The death of an iconic figure can sometimes impact us deeply because it reminds us of our shared humanity. This is the Tale of Two Celebrities: Chadwick Boseman and Eddie Van Halen. Tilden Moschetti, Esq. of the Moschetti Law Group in Calabasas, CA (https://moschettilaw.com) answers some of the frequently asked questions he and his estate planning law firm gets from clients.

With a celebrity’s passing, we realize that death is an equalizer. It also reminds us of the importance of estate planning to protect a person's money and property. Estate planning is not reserved for those with large amounts of wealth or larger-than-life personalities. Life’s difficulties challenge all of us regardless of our relative fame or obscurity.

Estate planning is the process of making decisions about what happens to you, your money, and your property when you pass away or can no longer make decisions for yourself. This year, the deaths of two significant celebrities—the international rock superstar Eddie Van Halen and the global acting phenomenon Chadwick Boseman—provide examples of key considerations in this process. In some ways, these men could not be any more different; however, they serve as a lesson that all of us should have an estate plan in place to protect the ones we love.

Hope this was helpful!

MEET with the Moschetti Law Group:

https://estate-and-legacy.com/welcome

Connect with the Moschetti Law Group online:

Visit the Moschetti Law Group WEBSITE:

https://moschettilaw.com

Like the Moschetti Law Group on FACEBOOK: https://www.facebook.com/real.estate.and.estate.planning.lawyers

Follow @moschettilaw on TWITTER:

http://twitter.com/moschettilaw

Follow the Moschetti Law Group on INSTAGRAM:

https://www.instagram.com/moschettilaw/

About the Moschetti Law Group:

Moschetti Law Group is an estate planning and real estate law firm located in Calabasas, California. We believe in your legacy and are committed to growing it and protecting it for you and your family.

We built our firm on a set of principles that puts our clients first by providing outstanding representation, aggressive negotiation, and world-class client service and communication. Schedule a consultation to discuss how the Moschetti Law Group can support you and your goals.

What is the recipe for a satisfying estate plan? Tilden Moschetti, Esq. of the Moschetti Law Group in Calabasas, CA (https://moschettilaw.com) answers some of the frequently asked questions he and his estate planning law firm gets from clients.

Misconceptions about who needs an estate plan abound. Most people believe that estate planning is only for extremely wealthy business moguls or celebrities. But that could not be further from the truth. Estate planning is the process of making decisions about what happens to you, your money, and your property when you pass away or can no longer make decisions for yourself. Thus, estate planning should be standard practice for every adult age eighteen or older.

One way to think about estate planning is to compare it to a classic recipe you should have in your cooking repertoire by your twenties. Like that satisfying meal, your estate plan should have the right ingredients—or in this case, people.

So, let me ask you - do you have the right ingredients?

The recipe for an effective estate plan must include the right 5 roles (aka the ingredients).

Hope this was helpful!

MEET with the Moschetti Law Group:

https://estate-and-legacy.com/welcome

Connect with the Moschetti Law Group online:

Visit the Moschetti Law Group WEBSITE:

https://moschettilaw.com

Like the Moschetti Law Group on FACEBOOK: https://www.facebook.com/real.estate.and.estate.planning.lawyers

Follow @moschettilaw on TWITTER:

http://twitter.com/moschettilaw

Follow the Moschetti Law Group on INSTAGRAM:

https://www.instagram.com/moschettilaw/

About the Moschetti Law Group:

Moschetti Law Group is an estate planning and real estate law firm located in Calabasas, California. We believe in your legacy and are committed to growing it and protecting it for you and your family.

We built our firm on a set of principles that puts our clients first by providing outstanding representation, aggressive negotiation, and world-class client service and communication. Schedule a consultation to discuss how the Moschetti Law Group can support you and your goals.

Clients and I almost always have the discussion – should they have a will-based plan or a trust-based plan. The answer isn’t always a trust-based plan. Tilden Moschetti, Esq. of the Moschetti Law Group in Calabasas, CA (https://moschettilaw.com) answers some of the frequently asked questions he and his estate planning law firm gets from clients.

One of the many decisions you will need to make in planning your estate is whether to choose a will or a revocable living trust as the main tool for passing your property.

People who choose a revocable living trust most of the time do it to avoid probate, plan for their incapacity, and keep their estate plans private. Now, if these are not important goals for you at this time, a will may be more appropriate.

Hope this was helpful!

MEET with the Moschetti Law Group:

https://estate-and-legacy.com/welcome

SUBSCRIBE to get the latest: https://www.youtube.com/channel/UCVh1CNQULC45Bh6j4WV2sjA?sub_confirmation=1

Connect with the Moschetti Law Group online:

Visit the Moschetti Law Group WEBSITE:

https://moschettilaw.com

Like the Moschetti Law Group on FACEBOOK: https://www.facebook.com/real.estate.and.estate.planning.lawyers

Follow @moschettilaw on TWITTER:

http://twitter.com/moschettilaw

Follow the Moschetti Law Group on INSTAGRAM:

https://www.instagram.com/moschettilaw/

About the Moschetti Law Group:

Moschetti Law Group is an estate planning and real estate law firm located in Calabasas, California. We believe in your legacy and are committed to growing it and protecting it for you and your family.

We built our firm on a set of principles that puts our clients first by providing outstanding representation, aggressive negotiation, and world-class client service and communication. Schedule a consultation to discuss how the Moschetti Law Group can support you and your goals.

Clients sometimes come in thinking a trust is always the best choice. While many times that is true, it isn’t always true. Tilden Moschetti, Esq. of the Moschetti Law Group in Calabasas, CA (https://moschettilaw.com) answers some of the frequently asked questions he and his estate planning law firm gets from clients.

So, when is a Will-Based Plan the better choice? There are generally 4 types of situations.

First, when the costs of probate in your state are unlikely to exceed the costs of preparing and maintaining a revocable living trust.

Second, sometimes it is really important to have some oversight.

Third, You do not want the extra work of maintaining a revocable living trust or fear you will neglect to keep it up.

Fourth, if you are young and in good health and want to put in place just a simple starter estate plan.

Hope this was helpful!

MEET with the Moschetti Law Group:

https://estate-and-legacy.com/welcome

SUBSCRIBE to get the latest: https://www.youtube.com/channel/UCVh1CNQULC45Bh6j4WV2sjA?sub_confirmation=1

Connect with the Moschetti Law Group online:

Visit the Moschetti Law Group WEBSITE:

https://moschettilaw.com

Like the Moschetti Law Group on FACEBOOK: https://www.facebook.com/real.estate.and.estate.planning.lawyers

Follow @moschettilaw on TWITTER:

http://twitter.com/moschettilaw

Follow the Moschetti Law Group on INSTAGRAM:

https://www.instagram.com/moschettilaw/

About the Moschetti Law Group:

Moschetti Law Group is an estate planning and real estate law firm located in Calabasas, California. We believe in your legacy and are committed to growing it and protecting it for you and your family.

We built our firm on a set of principles that puts our clients first by providing outstanding representation, aggressive negotiation, and world-class client service and communication. Schedule a consultation to discuss how the Moschetti Law Group can support you and your goals.

Today we are going to discuss one of the questions clients ask ALL the time: “If probate is so bad, why do we have it?” Tilden Moschetti, Esq. of the Moschetti Law Group in Calabasas, CA (https://moschettilaw.com) answers some of the frequently asked questions he and his estate planning law firm gets from clients.

Probate does have a purpose. Most importantly, Probate prevents fraud and protects the last wishes of the person who passed away. The probate court looks at the will and rules on if it is valid and authentic.

Probate also protects heirs. The personal representative is required to notify all known heirs and interested parties making them aware of the process is going on.

Probate provides a forum to resolve disputes. Heirs may disagree with the appointment of the personal representative, or distributions, or amounts paid to creditors, or other many other kinds of issues. Probate provides a forum where disputes can be brought for a neutral third party to decide.

Hope this was helpful!

MEET with the Moschetti Law Group:

https://estate-and-legacy.com/welcome

Connect with the Moschetti Law Group online:

Visit the Moschetti Law Group WEBSITE:

https://moschettilaw.com

Like the Moschetti Law Group on FACEBOOK: https://www.facebook.com/real.estate.and.estate.planning.lawyers

Follow @moschettilaw on TWITTER:

http://twitter.com/moschettilaw

Follow the Moschetti Law Group on INSTAGRAM:

https://www.instagram.com/moschettilaw/

About the Moschetti Law Group:

Moschetti Law Group is an estate planning and real estate law firm located in Calabasas, California. We believe in your legacy and are committed to growing it and protecting it for you and your family.

We built our firm on a set of principles that puts our clients first by providing outstanding representation, aggressive negotiation, and world-class client service and communication. Schedule a consultation to discuss how the Moschetti Law Group can support you and your goals.

Today we are going to discuss one of the questions clients ask ALL the time: “What is probate.” Tilden Moschetti, Esq. of the Moschetti Law Group in Calabasas, CA (https://moschettilaw.com) answers some of the frequently asked questions he and his estate planning law firm gets from clients. 

Probate is the legal process for settling an estate after someone has died. During probate, the decedent’s personal representative locates the decedent’s assets, pays his or her debts, and distributes the remainder of the estate to the inheritors.  

Hope this was helpful!  

Connect with the Moschetti Law Group online:  

Visit the Moschetti Law Group WEBSITE:  https://moschettilaw.com 

Like the Moschetti Law Group on FACEBOOK: https://www.facebook.com/real.estate.and.estate.planning.lawyers 

Follow @moschettilaw on TWITTER:  http://twitter.com/moschettilaw 

Follow the Moschetti Law Group on INSTAGRAM:  https://www.instagram.com/moschettilaw/ 

About the Moschetti Law Group: 

Moschetti Law Group is an estate planning and real estate law firm located in Calabasas, California. We believe in your legacy and are committed to growing it and protecting it for you and your family.  

We built our firm on a set of principles that puts our clients first by providing outstanding representation, aggressive negotiation, and world-class client service and communication. Schedule a consultation to discuss how the Moschetti Law Group can support you and your goals.

Today we are going to discuss the sometimes touchy subject of conflicts of interest for couples in estate planning. Tilden Moschetti, Esq. of the Moschetti Law Group in Calabasas, CA (https://moschettilaw.com) answers some of the frequently asked questions he and his estate planning law firm gets from clients.

Couples often make their estate plans together and it seems to make sense to have the same attorney advise them and prepare their documents. If this is your situation, you should be aware of the possibility that a conflict of interest could arise between you.

Conflicts happen most often if the decisions of one of you regarding your estate plan become adverse to or inconsistent with the decisions of the other. A conflict can also arise if you cannot agree on the disposition of property you jointly own. A conflict of interest between partners with the same attorney creates an ethical dilemma for me, the attorney.

Hope this was helpful!

Connect with the Moschetti Law Group online:

Visit the Moschetti Law Group WEBSITE:

https://moschettilaw.com

Like the Moschetti Law Group on FACEBOOK: https://www.facebook.com/real.estate.and.estate.planning.lawyers

Follow @moschettilaw on TWITTER:

http://twitter.com/moschettilaw

Follow the Moschetti Law Group on INSTAGRAM:

https://www.instagram.com/moschettilaw/

About the Moschetti Law Group:

Moschetti Law Group is an estate planning and real estate law firm located in Calabasas, California. We believe in your legacy and are committed to growing it and protecting it for you and your family.

We built our firm on a set of principles that puts our clients first by providing outstanding representation, aggressive negotiation, and world-class client service and communication. Schedule a consultation to discuss how the Moschetti Law Group can support you and your goals.

Let’s talk about disinheriting a child. Tilden Moschetti, Esq. of the Moschetti Law Group in Calabasas, CA (https://moschettilaw.com) answers some of the frequently asked questions he and his estate planning law firm gets from clients.  

In this FAQ, we talk about disinheriting a child.   

A will or a revocable living trust can contain provisions that disinherit a child or a spouse. A lot of times this comes up when a child has a substance abuse problem, or they're very, very irrational or just it wouldn't be appropriate to leave them any money.  We advise our clients to avoid providing this explanation because it, it forecloses any possible grounds for the child to have challenging that decision of yours. 

Now, if you do decide to provide an explanation, it needs to be phrased very carefully.  

Hope this was helpful!  

Connect with the Moschetti Law Group online:  

Visit the Moschetti Law Group WEBSITE:  

https://moschettilaw.com 

Like the Moschetti Law Group on FACEBOOK: https://www.facebook.com/real.estate.and.estate.planning.lawyers 

Follow @moschettilaw on TWITTER:  http://twitter.com/moschettilaw 

Follow the Moschetti Law Group on INSTAGRAM:  https://www.instagram.com/moschettilaw/ 

About the Moschetti Law Group: 

Moschetti Law Group is an estate planning and real estate law firm located in Calabasas, California. We believe in your legacy and are committed to growing it and protecting it for you and your family.  

We built our firm on a set of principles that puts our clients first by providing outstanding representation, aggressive negotiation, and world-class client service and communication. Schedule a consultation to discuss how the Moschetti Law Group can support you and your goals.