If you are putting off a conversation with your family about estate planning because the topic is tough to deal with, now is the time to get everyone together. The fact is that as difficult as the conversation may be to have, you need to have it while everyone is calm and has their wits about them. During an emergency medical situation or when cognitive problems start to set in are not the right times for serious talk about the future. Here are a few things you should know.
Why You Need to Have an Estate Planning Discussion
Discussing things as a family does not take away your right to determine what will happen to you or your estate. It simply helps you to convey to your family why your estate plan is being set up as it is, and it allows your family members to voice opinions or ideas you may not have thought of. What should the discussion include?
- Distribution of Assets – Discussing who will get what can curb hurt feelings over what your will or trust will later
- End of Life Decisions – If you don’t want your life prolonged on machines, now is the time to break the news to your family and to discuss who can handle the emotional responsibility of making the call if it comes to that.
- Funeral Arrangements – Now is the time to let your family know how you want your remains to be handled.
- Medical Wishes – If you become incapacitated either physically or mentally, now is the time to establish who will be in charge of making decisions for you and what you expect those decisions to be.
Meeting Your Estate Planning Needs in San Diego, California
By having this discussion, you can help absolve your family of any feelings of guilt when having to make tough calls and limit any hurt feelings that may be piled on top of grief at a later time. Petrov Law Firm can then help you to carry out the decisions you have made by sharing our valuable estate planning experience with you. To begin enacting your plans for the future, call 619-344-0360 today.Read More
One estate planning method that many couples use to avoid probate is called joint tenancy. This means that the two of you own the property together. As a result, if one spouse dies, the other will automatically own the property outright and thereby avoid having to through the mate’s estate to get ownership. Does the same concept apply to cars?
Joint Tenancy of Cars in California
Joint tenancy should help a car pass to the right person automatically. However, it is vital to register the car properly in both names. This is highlighted by a case involving two friends who co-owned a vehicle. When one of the friends passed away, the other expected to get full ownership of the vehicle since both names were on the title. But the court ruled that the title did not create joint tenancy but merely tenancy in common. As a result, the surviving friend received 50% ownership only, and the other half went to the deceased’s trust.
Knowledgeable Estate Planning Advice in San Diego
Knowing how to properly register your vehicle as joint tenancy is important if you want the car to avoid probate and pass immediately to the co-owner, whether that be your mate, another family member, or a close friend. The estate planning lawyers at Petrov Law Firm can help you to make sure you have taken care of all the details that will ensure a smooth transition. To get started on your estate plan and get the accompanying advice that you need, just call 619-344-0360.Read More
Summer makes people want to be outside having fun in the sun. That means more trips to the beach, local pools, or maybe even to a lake. However, there are a number of dangers that lurk in association with water recreation. Here are a few ways to keep you and your family safe.
Avoiding Common Water Injuries
Here are a few things you can do to stay safe and keep your fun activities from quickly becoming dangerous:
- Avoid water that isn’t properly treated – If you get some kind of parasite from pool water that hasn’t been cared for properly, the owner will likely be held responsible for medical expenses. However, if you are at some random lake or pond, it’s tough to know if the water is safe, and you will be swimming at your own risk.
- Use caution around power watercraft – Someone on a jet ski should be looking out for swimmers, but it is better to use caution and stay out of the line of watercraft than to get hurt, even if it’s not your fault.
- Watch out for shallow water – Diving into water that is too shallow can lead to serious injury and even death. Pools should be properly marked as to depth and whether diving is safe, but always check the water depth yourself first just to be certain.
If You or a Loved One Has Suffered a Water-Related Injury
There are many times that water injuries could have been avoided with proper caution. A failure to properly treat a pool can lead to serious medical conditions. An incorrectly marked pool can result in paralysis from diving into the shallow end. A boat may strike a swimmer due to the careless operation or because a person wasn’t properly licensed or trained.
The personal injury attorneys at Petrov Law Firm can help you to seek due compensation if an injury has resulted in medical bills, missed work, or mental suffering. To learn more, call 619-344-0360.Read More
The fact is that the great majority of personal injury cases result in settlements, and that’s not a bad thing. However, there are times to settle and times to go to court. Plus, there are times when rejecting an initial settlement may lead to a better offer without the need for a court battle. Here are a few things you should know about settling personal injury cases out of court.
Situations Where You Shouldn’t Accept a Settlement
Here are a few times to avoid accepting a settlement or a when settlement may not be possible:
- The insurance company or lawyer won’t give you time to consult with your own attorney.
- The settlement amount seems too low.
- The statute of limitations requires a suit.
Getting the Settlement You Deserve
By acting within the appropriate amount of time and consulting with a personal injury attorney, you can help to ensure that you receive an adequate settlement. In the meantime, it is important to avoid signing anything or accepting compensation that would disqualify you from seeking further damages. You also need to contact the right attorney to receive compassionate assistance backed up by experience and expertise in personal injury cases.
The personal injury attorneys at Petrov Law Firm have the knowledge and experience to help you recognise a fair settlement offer. While it is always up to you to determine if you will accept an offer or not, our lawyers can help you to make an educated decision. To learn more and to schedule a consultation, call us today at 619-344-0360.Read More
A living trust is a great way to simplify matters for your heirs and avoid probate. Since assets that are a part of a trust are passed on differently than those in a will, your heirs may receive their inheritance faster and with fewer legal fees. The difference is in the way the trust is funded. Only a correctly implemented trust will save time and money and avoid lengthy court proceedings.
Why Executing the Trust Properly Is Vital
A 2012 case in El Dorado, California brought this topic to the fore. In the case, an older woman had executed a trust leaving her home to her daughter. Three years later, she changed her trust to make her son the heir but failed to change the deed on the house. Thus, the conflict was whether or not the house should be left to the son or daughter.
In the end, the son received the house due to California law allowing for the transfer of the property to the new trust. However, it took 5 years longer than it should have for the son to get the home. So it still drives home the point of properly executing a trust in order to avoid long legal battles.
Help in Executing Your Living Trust in Sand Diego, California
San Diego, California residents can trust the experienced attorneys at Petrov Law Firm to help execute your living trust properly. This will make for a smooth transition in the future when your heirs receive their inheritance. To learn more and to start planning for the future today, call 619-344-0360.Read More
There is a lot to think about when a couple goes through a divorce, especially if they have been together for a long time and have a family. One major consideration is the status of your estate planning. What estate matters need to be considered following a divorce?
- Does your former mate still have power of attorney to make medical decisions for you?
- Was your spouse the trustee for part or all of your estate?
- Do you share a living trust?
- Is your ex still in your will?
- Is your former spouse listed on your bank, credit, or retirement accounts?
- Do you share any property?
While some of these matters may be resolved as a part of the divorce (for example, jointly owned assets may be liquidated), some things may need to get taken care of afterwards. If you become suddenly incapacitated either physical or mentally, it will be too late to make these changes, so now is the time to think about it.
Compassionate Assistance When Estate Plans Need to Be Adjusted
Life-changing events are never easy. It can be tough to think things through logically following a divorce, especially if you experienced many years together. Having a quality estate planning lawyer in your corner can be an important asset when it comes to making sure you’ve dotted all your I’s and crossed all of your T’s.
Petrov Law Firm has the compassionate attorneys who can help you to make the right decisions at your own pace. To schedule an appointment, call 619-344-0360.Read More
When a defective product comes off the line, goes through the chain of distribution, reaches a consumer, and causes an injury, the manufacturer is at fault. In fact, if it can be shown that the manufacturer knew that some products were defective, negligence may result in a number of lawsuits. Here are 3 steps you should take if you have been injured by a defective product.
#1 Seek Medical Attention Immediately
Your health is of primary concern, so the first and foremost item of business should be getting the proper medical attention. Make sure you keep copies of all of your medical records related to the injury, including bills and any pictures or x-rays taken of the injury.
#2 Keep the Defective Product
Unless it is dangerous for you to store the item that caused your injury, hanging onto the item can allow you to show how the product caused your injuries. At the very least, you should try to take a number of photographs that show the defect in the product and how the injury occurred.
#3 Contact a Personal Injury Attorney
Don’t sign anything before speaking to an attorney, even if the manufacturer has offered you a settlement. In most cases, if you accept any kind of compensation, including a refund for the item or a replacement item, you may affect your ability to collect further compensation.
The personal injury attorneys at Petrov Law Firm can help ensure that you receive the compensation you are due in the case of injury caused by a product defect. Contact us today at 619-344-0360 to learn more.Read More
Injuries suffered in a car accident can range from minor to major and from short-term to chronic. We’re going to take a look at three types of injuries that are commonly caused by car accidents.
#1 Whiplash and Other Spine Injuries
Whiplash can occur in an accident that takes place going as slow as 5 mph. Even if there is no damage to the vehicle, the spine may have suffered from misalignments. In more serious accidents, neck and back injuries can lead to paralysis or even loss of life. If any part of your spine is in pain in the days following a car accident, you should see a doctor for an examination, even if you were initially given a clean bill of health.
#2 Concussions and Other Head Injuries
Most people do not realize that you don’t have to hit your head to sustain a concussion. If the head is flung around fast enough, the brain can strike the inside of the skull. This is equally traumatic. Even if there are no visible bumps or bruises, you should see a doctor if you hit your head or were seriously jostled in the accident.
#3 Cuts and Lacerations
Whether you are cut by breaking glass or something in the vehicle that broke or became a projectile, you should see a doctor to find out if you need stitches. In some cases, a deep cut can hit a ligament, tendon, or nerve and do significant long-term damage that may require corrective surgery.
If You Have Suffered These or Other Injuries in an Accident
If you are experiencing losses due to an injury suffered in a car accident, you may be able to gain compensation. Before signing anything presented by an insurance company, seek legal counsel. The personal injury attorneys at Petrov Law Firm will be happy to help you understand your rights. Call 619-344-0360 to get started.
Some people take the extra time and effort to plan their own funeral and make it a part of estate planning. However, if you do not take this advanced step to outline the way you want your funeral to take place (and many people don’t), it raises the question: Who will plan the funeral?
Can Someone You Disinherit Plan Your Funeral?
You may be surprised to find that answer is yes. Let’s say you pass away and decide not to leave any money or assets to your children. It all goes to your favorite nephew. Out of the $100,000 you leave him, he decides to spend $15,000 of funeral arrangements at a nearby funeral home.
However, the disinherited children step in and decide to plan a $50,000 funeral at a location more convenient for them. Legally they can do that in California as closer relatives. Now half of our favorite nephew’s inheritance goes toward a funeral you didn’t want, that was planned by kids you had a falling out with.
Suddenly it becomes clear why planning a funeral ahead of time is so important, especially if you have close relatives you don’t want to have involved in the planning.
Planning Your Funeral in California
California residents can take control of funeral arrangements by making it part of the estate planning process. This can help a grieving spouse or children by making decisions for them in advance. It can also protect the assets left to another relative by overriding decisions that would otherwise have fallen on a closer relative according to state law.
If you have not yet made arrangements for your future funeral, the estate planning attorneys at Petrov Law Firm can be of assistance to you. Call 619-344-0360 and make an appointment to discuss your estate planning needs.Read More
If you own your own business, one question you may have is what will happen to your business after you pass away. For some, a company serves as a real legacy, even if it is a small family owned business, so you want to be certain that succession will occur in accord with your wishes, especially if something were to befall you suddenly. Here are a few things to know based on the type of business you run.
If You Are a Sole Proprietor
If a person owns a business alone and has not incorporated, there is no legal entity that exists apart from the owner. That means that when the owner passes away, the business goes too. It may be possible for assets of the business to be sold and the profits to be distributed to heirs. However, if you want to leave the company to a successor, you will have to draft paperwork in advance.
The Importance of a Partnership Agreement
If you own a business as a part of a partnership, the original partnership agreement should outline what happens if one partner dies. Thus, this may already be taken care of. However, a partnership agreement is legally required, so a person may not have entered into one, especially if the partner is a relative. Drafting an agreement and deciding what happens if one partner passes before the other is a smart idea.
What If the Business Is an LLC or a Corporation
LLCs and corporations have other laws that dictate what will happen if one shareholder or member dies. Therefore, it is important to consult with an estate planning lawyer to determine what happens with your portion of the business.
Estate Planning Attorneys to Help Protect Your Legacy
The estate planning attorneys at Petrov Law Firm would be happy to help you protect your legacy for future generations. Just call 619-344-0360 today to get started.Read More