Opelon LLP- a Trust, Estate Planning & Probate Law Firm’s Post

When a beneficiary of a will passes away before the person who created it, who gets the gift? 🧐 Well, the answer is: it depends! It largely hinges on how the will was drafted. If there’s an alternate beneficiary listed, they’ll receive the gift. But if you went the DIY route and didn't plan for this, the gift might "lapse" (disappear) unless your state's anti-lapse statute steps in. If the beneficiary isn't covered under the statute, the gift usually defaults to the residuary clause in the will. The best approach? Work with an estate planning attorney to ensure every detail is covered, including alternate beneficiaries! 💼 ⚖️ ✨ If you want to make sure all of your bases are covered, just click the link in our bio to get started today! 🌐 🔗 🧑💻️ #AntiLapseStatutes #EstatePlanning #PlanAhead

Attention Senior Homeowners! Proposition 19 Can Help You Save Big on Property Taxes 😇 💰 Are you thinking about downsizing, moving closer to family, or relocating to a new community? Proposition 19 offers an incredible opportunity for homeowners aged 55 and older to save money and enjoy more flexibility with their property taxes! Here's How Prop 19 Works for You: Keep Your Low Property Taxes When You Move! 👍 Homeowners who are over 55, severely disabled, or victims of natural disasters can transfer their current property tax base to a new home anywhere in California up to 3 times. Benefit to Seniors and Disaster Victims: 👍 Provides financial flexibility for seniors, disabled individuals, and those affected by disasters to relocate without losing property tax benefits. For more information, check link here: https://lnkd.in/gGFZFGgn #realestate #relocating #californiarealestate #proposition19

When a beneficiary of a will passes away before the person who created it, who gets the gift? 🧐 Well, the answer is: it depends! It largely hinges on how the will was drafted. If there’s an alternate beneficiary listed, they’ll receive the gift. But if you went the DIY route and didn't plan for this, the gift might "lapse" (disappear) unless your state's anti-lapse statute steps in. If the beneficiary isn't covered under the statute, the gift usually defaults to the residuary clause in the will. The best approach? Work with an estate planning attorney to ensure every detail is covered, including alternate beneficiaries! 💼 ⚖️ ✨ If you want to make sure all of your bases are covered, just click the link in our bio, or call 719-424-3321 to get started today! 🌐 🔗 🧑💻️  

Estate planning isn’t just about the will and trust. Beneficiary designations are an important part of a comprehensive estate plan. But using beneficiary designations without considering the overall plan can wreak havoc. At best, beneficiary designations align with the client’s goals and avoid probate for those assets. But when designations do not match the client’s planning documents or their goals change, consequences arise. Unintended beneficiaries, unequal distributions to “equal” beneficiaries, and adverse tax consequences are common. My suggestion? Decide how much to leave each beneficiary. Then work with trusted professionals to transfer those assets to the beneficiaries in the most efficient way possible. #estateplanning #elderlaw #taxplanning

🚨 The Most Important Document You'll Ever Create... 🚨 Quick reality check: - Do you have children? Without a Will, they could end up in care - Do you own your home? Your partner might not inherit it all - Do you have savings? The taxman could take a huge chunk But here's the good news... In just 4 days next week (less than an hour each day), you can take a vital step towards: ✨ Protecting your children's future ✨ Giving your partner security in your home ✨ Saving money in tax All this... completely FREE! Why now? - This is the last Challenge I'm doing until Spring 2025 - Expert guidance (from me, a former Wills solicitor) - Do it from home in your PJs! - Replays available for you to catch up in your own time - Don't become another statistic - 60% of adults don't have a Will. Be part of the prepared 40%! Secure your spot now here: https://lnkd.in/e_WwruYe #WillChallenge #TakeControl #RainbowHunting

Safeguard your assets with a Will.💰 Call now 👉 01524 401010 It’s vital to ensure that your assets are distributed in a way that reflects your wishes after your passing. The best way to do this is by writing a Will, which outlines how you want your assets to be divided. Sideways disinheritance is a term used to describe a scenario where your assets pass to someone other than your intended beneficiaries, such as your spouse's new partner or stepchildren, in blended families. Trusts in Wills can protect your assets from these types of scenarios. This can be a complex process, which is why we offer patient and supportive guidance throughout. We’ll support you every step of the way, ensuring your wishes are followed, and your assets are safe for generations to come.👍 Get in touch with our team today.😊 - - - #BBPLegal #Solicitors #Morecambe #InheritanceTax #EstatePlanning #Lancashire #Kendal #Cumbria #Lancaster #SolicitorsUK #Lawyer #Wills #WillWriting #Assets #Death #Family #Tax #TaxMitigation #Inheritance #TheBaySolicitors #Protection #Wealth #Finances #PersonalFinances

Safeguard your assets with a Will.💰 Call now 👉 01524 401010 It’s vital to ensure that your assets are distributed in a way that reflects your wishes after your passing. The best way to do this is by writing a Will, which outlines how you want your assets to be divided. Sideways disinheritance is a term used to describe a scenario where your assets pass to someone other than your intended beneficiaries, such as your spouse's new partner or stepchildren, in blended families. Trusts in Wills can protect your assets from these types of scenarios. This can be a complex process, which is why we offer patient and supportive guidance throughout. We’ll support you every step of the way, ensuring your wishes are followed, and your assets are safe for generations to come.👍 Get in touch with our team today.😊 - - - #BBPLegal #Solicitors #Morecambe #InheritanceTax #EstatePlanning #Lancashire #Kendal #Cumbria #Lancaster #SolicitorsUK #Lawyer #Wills #WillWriting #Assets #Death #Family #Tax #TaxMitigation #Inheritance #TheBaySolicitors #Protection #Wealth #Finances #PersonalFinances

Are you making these common Estate Planning mistakes? 1. Not having a Plan 2. Not Updating the Plan 3. Not Designating Beneficiaries Correctly 4.Overlooking Digital Assets 5. Not Planning for Taxes 6. Neglecting to Name a Power of Attorney 7. Not Preparing for Incapacity 8. Failing to Fund a Living Trust 9. Leaving Everything to One Person 10. Ignoring Long-Term Care Needs #EstatePlanning #FinancialPlanning #AssetProtection #WealthManagement #FuturePlanning #PlanAhead #SecureYourLegacy #EstateMistakes #ProtectYourAssets #TrustAndWill #BeneficiaryUpdates #DigitalAssets #TaxPlanning #LongTermCare

READY TO DO YOUR TRUST? Setting up a trust offers numerous benefits for your financial planning and legacy: **Asset Protection**: Safeguard your wealth from creditors and legal claims. **Privacy**: Keep your estate matters private by avoiding the public probate process. **Control**: Specify how and when your assets are distributed to beneficiaries. **Tax Benefits**: Potentially reduce estate and gift taxes. **Continuity**: Ensure smooth management of your assets if you become incapacitated. **Beneficiary Protection**: Provide for minors or those with special needs without jeopardizing their benefits. **Peace of Mind**: Knowing your affairs are in order gives you and your loved ones peace of mind. #FinancialPlanning #EstatePlanning #TrustFund #WealthManagement #AssetProtection #LegacyPlanning #FinancialSecurity #TaxBenefits #FuturePlanning #PeaceOfMind

READY TO DO YOUR TRUST? Setting up a trust offers numerous benefits for your financial planning and legacy: **Asset Protection**: Safeguard your wealth from creditors and legal claims. **Privacy**: Keep your estate matters private by avoiding the public probate process. **Control**: Specify how and when your assets are distributed to beneficiaries. **Tax Benefits**: Potentially reduce estate and gift taxes. **Continuity**: Ensure smooth management of your assets if you become incapacitated. **Beneficiary Protection**: Provide for minors or those with special needs without jeopardizing their benefits. **Peace of Mind**: Knowing your affairs are in order gives you and your loved ones peace of mind. #FinancialPlanning #EstatePlanning #TrustFund #WealthManagement #AssetProtection #LegacyPlanning #FinancialSecurity #TaxBenefits #FuturePlanning #PeaceOfMind