Safeguarding Our Children's Futures

As we enjoy the freshness of spring and soon the warmth of summer, we also usher in a season of transitions and new beginnings. With graduation caps tossed into the air and diplomas proudly displayed, we celebrate the accomplishments of our young adults stepping into the next phase of their lives. Yet amidst the jubilant festivities, it's crucial to remember a vital aspect often overlooked in the whirlwind of excitement: ensuring our adult children are equipped to navigate the responsibilities of adulthood, including the often-overlooked realm of estate planning.

At Botti & Morison, we understand the importance of safeguarding your family's future, which is why we're dedicating this month's newsletter to the imperative task of guiding our adult children through the essential steps of estate planning. From wills to powers of attorney, we'll delve into the critical documents necessary to protect their interests and secure your family's legacy.

Join us as we navigate the complexities of estate planning during this graduation season, empowering the next generation to embrace their newfound independence with confidence and foresight.

Warm regards,

The Botti & Morison Team

New Blog Posts

Why Parents Should Consider an Estate Plan for Their “Adult” Children

In most states, when your child turns 18, it might be hard to imagine that little child who once needed you for everything has now become – overnight – an adult. Now your child is free to vote, marry, apply for a credit card, make medical and financial decisions, sign contracts, and live independently. No wonder the law calls this coming-of-age “emancipation.”

But if your adult child is hurt in an accident and needs somebody to make critical medical decisions, you cannot be the one to do that without your child having named you as an agent under an Advance Heath Care Directive, even if you’re still paying for your child’s health insurance. That’s not fair parents! In money matters, you will not be permitted access to your adult child’s bank accounts unless your child has made you agent under a Durable Power Attorney for Financial Purposes.

Protecting Your Legacy: The Case for Encouraging Adult Children to Establish a Separate Property Trust

As parents, ensuring the protection and preservation of our hard-earned assets for future generations is often a top priority. However, traditional estate planning may not adequately safeguard your legacy in certain circumstances, particularly when it comes to your adult children and the potential complexities of their marital status. That’s where the concept of separate property trusts comes into play, offering a strategic solution for your children to maintain control over their inheritance despite external factors such as divorce, meddling in-laws, and creditors.

We understand the importance of implementing comprehensive estate planning strategies tailored to your family’s unique needs. Let’s delve into why encouraging your adult children to establish separate property trusts can be a wise decision to safeguard your bloodline’s financial security.

Upcoming Workshops

The next round of live estate planning workshops is in Bakersfield, CA.

Perhaps you, a family member, or a friend would benefit from attending.

The workshop dates and times are as follows:

Estate Planning Workshop

DoubleTree by Hilton Hotel Bakersfield

3100 Camino Del Rio Ct.

Bakersfield, California 93308

Wednesday, June 12th, 10:00 a.m. to 12:00 noon – or –

Wednesday, June 12th, 7:00 p.m. to 9:00 p.m. – or –

Saturday, June 15th, 10:00 a.m. to 12:00 noon. – or –

Tuesday, June 18th, 7:00 pm. to 9:00 p.m.

Note that we will be available to answer individual questions at the conclusion of the presentation; therefore, please allow for additional time.

To register for any one of these workshops, please click here and select the date and time you wish to attend, or feel free to forward this email to anyone who you feel would be interested in attending. Seating is limited.

For clients making appointments with our attorneys in our Bakersfield office,

please note that we have moved to Tower B.

The address is:

Botti & Morison Estate Planning Attorneys, Ltd.

4900 California Ave.

Tower B, Suite 210B

Bakersfield, CA 93309

661.326.1255

Estate Planning F.A.Q.s

Q. What if I fail to amend my Will after I have another child, get married or divorced?

A. A California Probate Court may decide guardianship of your new child. If you get married, the California Probate Code would likely modify your plan of distribution to account for the community property rights of your spouse. It is critical that your Will is updated to reflect the changes in your life. Otherwise, your wishes may not be followed.

Q. Can my Will be contested?

A. There is no key required to gain access to the courthouse. In today's litigious society, there is absolutely no guarantee that your Will or any other estate planning document that you prepare will not be challenged. Your estate is liable for the legal expenses necessary to defend your Will. If you think it is a possibility that your Will may be contested, please let your attorney know. There are several defense mechanisms that can be added to your Will and other estate planning documents to eliminate or minimize this risk.

Do you have any estate-planning-related questions?

If so, please send them to us, and we'll be happy to answer them in our eNews.