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posted: Jan. 23, 2020 Q. I am a 68-year-old veteran. I lost my wife about three years ago to cancer. My wife did not have life insurance. I have a small life insurance policy from Prudential that has been costing me about $76.00/month for the past 15 years and is supposed to pay out $250,000 upon my death. I also receive about $800 a month from my VA pension and $1,400 a month in Social Security. I almost went bankrupt last year because I simply could not afford living without the benefit of my deceased wife’s income. Before her death, our combined income kept us afloat and we were able to pay our bills. But now that she is gone, I am having a hard time making ends meet. I have heard about people who cash out of their life insurance policy. Is this a viable alternative for me? A. That depends. It’s your money. It’s your decision. Leaving money to your children may not be your main priority, especially if they have been educated and are financially stable. Clearly, for many seniors living on a fixed income without a nest egg presents a serious financial risk if later you need to access emergency funds. The last thing you want is to spend the rest of your retirement in debt. For this reason many seniors are choosing to cash out of their life policy to beef-up their savings, cover unexpected expenses, and have enough to live comfortably. For other seniors, those that were relatively high-income earners, the extra money can be a great way to do some traveling and visit loved ones. Letting Your Policy Lapse – Same As Cancellation Consider that some policyholders will allow their life insurance policy to lapse rather then surrendering their policy for its actual cash value. Letting the policy laps is effectively the same thing as cancelling your policy after years of paying monthly premiums. This makes no sense whatsoever. Surrendering the policy for its present cash value can go a long way to meeting your long-term financial retirement goals. So what ever you do, think twice before letting your policy lapse for nonpayment. Possible Tax Consequences When Surrendering Your Policy Surrendering your policy for cash is not a tax-free event. If it turns out that you paid more in premiums dollars than what you will receive in cash upon the surrender of your life insurance policy, then you will not have a net gain and therefore you will owe no taxes on this money. The opposite is also true, should your cash surrender result in you receiving more then the total premiums paid, then the “overage” will be considered a “income gain” and therefore taxable. Make sure you consider the tax consequences before you surrender your policy. Borrowing Against Insurance Policy – Another Option You have a choice. You can either surrender the policy for its present cash value, or you can borrow against the policy depending on how much equity you have built up in your policy. If you believe borrowing the money will better fit your financial needs and circumstances, then a full surrender of the policy might be the better choice. Either way you should compare the borrowing rates verses a straight out policy surrender. Benefits of Cash Surrender According to the 2014 Census Bureau, 45% of adults ages 65 and older had incomes twice below the poverty threshold. No doubt the problem of elders living below the poverty line has grown to unacceptable levels. With the annual cost of long-term elder care reaching into the six-figures, unless you are one of the lucky few that are fortunate to carry long-term health insurance, your financial options are quite limited. In short, you may find yourself too old to work and too broke to live comfortably. With cash surrender of your policy you can choose to give your family their inheritance early and while you are still alive. Much can be said for living a comfortable life debt free, including no longer having to pay your monthly insurance premiums. In addition, having access to cash reserves can be used for travel, hobbies or just having a more comfortable life. In conclusion, obtaining the cash value of your insurance can be a welcomed source of income for cash-strapped seniors. However, before making a final decision to cash out, borrow against, or keep the status quo, make sure you obtain expert advise from a financial advisor and investigate the “Cash-For-Policy” company that is making the cash offer to ensure they are reputable and trustworthy. We recommend consulting with a financial expert trained in life insurance conversion-to-cash policies and get all the details including the risks and benefits of converting your policy to cash.

posted: Jan. 23, 2020 Q . On a national basis, how many people will need long term care, who provides it and how much how much on average does it cost? A . The national statistics concerning long-term care are as follows: Who needs long-term-care? Nearly 70 percent of Americans who reach the age of 65 will need some form of long-term care in their lives for a period of three years or longer. Currently, almost 12 million Americans are currently in need of long-term-care and support. This figure is estimated to increase to 27 million in 2050. Who provides long-term-care? Informal caregivers provide 80% of all long-term care services; 61 percent are women. Medicaid covers approximately 62% of total long-term care spending. How much does it cost? Nearly $220 billion per year for paid caregiving compared to an estimated $450 billion per year for unpaid caregiving. Nursing home care average cost: $81,030 for a semi-private room and $90,520 for a private room per year.

posted: Jan. 23, 2020 When it’s time to discuss long term legal and financial options and how to best prepare for them, we recommend you have a conversation with your loved ones as early as possible. If you believe your loved one is ready to openly discuss long term care issues, and the legal and financial issues that come with them, then you will need to ask a number of questions so that you can obtain important information and documents when the critical time arises. Sometimes an aging parent will be in denial and become defensive and unwilling to discuss long-term care issues. In these situations, it may be wise to simply ask them for their advice. Here is one such approach: “Dad, Lisa and I have wanted to ask you whether or not you have looked into long term care options and if you had any particular preferences or advice you would like to give us in this area?” In addition, you might want to add, “There are many issues to discuss like what you want your Health Care Directive to say with respect to instructing your doctor on your personal preferences should you become critically ill.” This will shift the discussion from what the elder will need, to what the elder wants. This will give the elder a sense that he or she is in control of their future and that avoidance of these issues serves no one's interest. Remember the goal is to empower your loved ones by providing specific information and a variety of legal and financial options to consider while they still have the mental capacity to make such decisions. These are difficult discussions to have and you must remember not to get overly dramatic. You don’t need to remind them that someday soon, the “angel of death” will come knocking at their door and that they better be prepared to make some hard decisions. Not a good approach. Even if this is expressed in a kind and loving tone, it will not be appreciated. The important thing here is to make sure the elder knows how much you love them and how important they are to you and the rest of the family. Once the elder is prepared to discuss their options and select from the resources available to them, you can begin to get specific about certain financial, legal and care issues such as: Is the elder receiving Social Security? If so, how much and whether the amount has been properly calculated. We recommend having this amount be recalculated by Social Security especially if there have been changed circumstances. Find out whether there are any pensions from prior employment. Determine if your loved one is eligible for financial assistance. This would include programs like Medicare and Medicaid. You may also want to know if he or she qualifies for Food Stamps. Find out if there is a life insurance policy, will, trust or any “pay-on-death” bank accounts. Make copies of all account numbers and statements and have them reviewed by an estate-planning attorney. Find out where your loved one stores their federal and state tax returns, investment receipts and bank records. You may be surprised to learn that there is private long-term medical insurance available. But don’t count on it, unfortunately, the elder law insurance data shows that less then ten percent of our elderly population carries long-term medical insurance. Find out what types of community elder services are available in your neighborhood. This could help your loved one maintain some level of social life and independence. Also, find out about the medications the elder is currently taking and how often. Make sure to put a written list together of all current medications, the dosage, and the doctors that prescribed them. Should the need for hospitalization be necessary, the medical intake team will need this information. Finally, taking care of elder issues now rather than later will give you the time to investigate the options and get informed. This will give you the confidence and information you need to have a constructive and meaningful conversation with your loved one and obtain some closure on settling these important issues.

posted: Jan. 23, 2020 New Year’s resolutions are right around the corner, and there’s no better time to commit to a healthier you. Last year, over 20% of resolutions were to lose weight through healthier eating. And while prepping for the ultimate summer body is a lofty goal, the benefits of a healthy eating and fitness plan are a lot more than the new figure that goes along with it. Eating choices can be ingrained habits that have been with us since childhood, and changing them can be difficult. So it’s important to remember that changing to a strict carbohydrate-free diet or eliminating sugar for a lifetime aren’t generally sustainable goals. Instead, focus on smaller dietary changes that can be incorporated into a permanent healthy lifestyle. According to a study published in the American Journal of Health Promotion, making a small dietary change leads to not just initial weight loss, but continued weight loss. Begin by recording your current eating habits, without changing anything. This can provide a good baseline for reflection and ideas for potential change. From there, select one goal for your new healthy eating plan, like substituting a starchy side dish at dinner and lunch with a fruit or vegetable. Be careful not to select something you won’t be willing to stick with. Finally, take some time to research and understand the benefits that come with your new eating plan. Attach positive outcomes to your goals. This will make you more committed to staying on track. For example, did you know healthy eating prevents illness? According to a study in the Journal of the American Geriatrics Society, increasing micronutrients, such as selenium, carotenoids, vitamins C and E, and zinc can help fight infections. And diseases like depression can be improved with a healthier diet. Decreasing sugars and caffeine, adding healthy carbohydrates, and increasing foods rich in Vitamin B, all work to boost your mood. Chronic pain, and even addiction recovery, can also be treated through nutritious eating. While you’re tackling a better diet, adding some fitness will go a long way in moving that scale dial downward. Get a start on this by taking some selfies. Take a good look at where you’re starting. Selfies can also serve as motivation for change, and a motivation for long-term success. Seeing yourself shrink is powerful. Like your new eating plan, start by choosing one manageable goal that you can stick with. For example, commit to exercise four days out of the week, and schedule a time to do it. Scheduling the time makes it a priority for you, and you’re more apt to stick to it if you aren’t just generally saying, “I’ll exercise sometime tomorrow.” One of the easiest ways to commit to a new exercise routine is by making it as accessible as possible. Consider converting a space in your basement or an unused bedroom into a home gym. How you equip it is a personal choice. You can go as big as purchasing a treadmill or an elliptical machine, or you can equip it with multiple smaller items, such as dumbbells, an exercise ball, resistance bands, a yoga mat, and a balance trainer all for around $100. Just as changing your eating habits improves your health, so too, can exercise. Obvious benefits have decreased the risk of heart disease and Type 2 diabetes, strengthening of your bones and muscles, and weight loss. Lesser known is the significant impact that exercise can have on your mental health. Physical fitness combats the symptoms of depression, anxiety, and memory loss, all while boosting your mood. So, instead of joining the 20 percent of Americans who resolve this New Year’s to lose weight, take it a step further and resolve to give yourself a healthier body and mind. Embracing healthier eating and physical fitness habits will make 2018 a truly happy New Year! You can even get an early start and implement your plan today. Good luck!

posted: Jan. 23, 2020 According to the Administration on Aging, family members are the primary providers of long-term elder care in the United States. Being a caretaker places a heavy burden on family members both emotionally and financially. For this reason alone, it makes good sense to approach your loved one with a compassionate and informed discussion regarding long-term care options. Emotionally Strong And Compassionately Honest We encourage you to have a candid conversation about long-term care, even though you might feel uncomfortable discussing the topic. You will also need to be emotionally strong and honest in discussing the subject of long-term care. The earlier you have the discussion the better. The last thing you want is to wait until your loved one is suffering from dementia or some other form of cognitive disability which will impair your loved one from fully understanding and being able to make informed and intelligent choices. Remember the goal of discussing long-term care is to provide an opportunity for the elder to make meaningful choices about their future. Know the Basics of Elder Care We suggest you perform some basic research into the types of services and resources available for seniors. For example, you should know the distinguishing features of Medicare and Medicaid. You should understand how Social Security works in this context and know something about the types of residential settings available to seniors and their respective price range. Medicare Medicare is a Federal health insurance program that pays for hospital and medical care for elderly and certain disabled Americans. The program consists of two main parts for hospital and medical insurance (Part A and Part B) and two additional parts that provide prescription drugs (Part C and Part D). Supplemental Coverage – Medi-Gap Insurance There is also supplemental coverage for medical expenses and services that are not covered by Medicare. These services are offered through “Medi-Gap” plans. Medi-Gap consists of 12 plans that the Centers for Medicare and Medicaid Services authorized for private companies to sell and administer. Medicaid Medicaid is a hybrid federal and state insurance program that helps pay health care costs for low-income people of any age. Medicaid helps with medical costs for people with limited income and resources. Medicaid also offers benefits not normally covered by Medicare, like nursing home care and personal care services. Social Security Social Security is the federal program that provides retirees with a very modest income and is based on the person’s work history. Social security assists people over the age of 65. Types of Long Term Care Facilities You will also want to know what types of facilities are available for seniors. You should know the differences and the respective costs associated with board and care, assisted living and skilled nursing facilities. A Source For Needed Cash Clearly, for many seniors living on a fixed income without a nest egg presents a serious financial risk if later you need to access emergency funds. The last thing you want is to spend the rest of your retirement in debt. For this reason, many seniors are choosing to cash out of their life policy to beef-up their savings, cover unexpected expenses, and have enough to live comfortably. For other seniors, those that were relatively high-income earners, the extra money can be a great way to do some traveling and visit loved ones. Benefits of Cash Surrender According to the 2014 Census Bureau, 45% of adults ages 65 and older had incomes twice below the poverty threshold. No doubt the problem of elders living below the poverty line has grown to unacceptable levels. With the annual cost of long-term elder care reaching into the six-figures, unless you are one of the lucky few that are fortunate to carry long-term health insurance, your financial options are quite limited. In short, you may find yourself too old to work and too broke to live comfortably. With the cash surrender of your policy, you can choose to give your family their inheritance early and while you are still alive. Much can be said for living a comfortable life debt-free, including no longer having to pay your monthly insurance premiums. In addition, having access to cash reserves can be used for travel, hobbies or just having a more comfortable life. In conclusion, obtaining the cash value of your insurance can be a welcomed source of income for cash-strapped seniors. However, before making a final decision to cash out, borrow against, or keep the status quo, make sure you obtain expert advice from a financial advisor and investigate the “Cash-For-Policy” company that is making the cash offer to ensure they are reputable and trustworthy. We recommend consulting with a financial expert trained in life insurance conversion-to-cash policies and get all the details including the risks and benefits of converting your policy to cash.

posted: Jan. 23, 2020  Q I believe my mother may be developing a bedsore. She is eighty-eight years old and currently lives in a Board & Care after having suffered a stroke that resulted in her right side being completely paralyzed. She is unable to walk or sit-up in bed. Her body position is often is a stationary position for hours at a time. About a week ago I noticed that she had some redness just above her buttocks. There are no doctors or nurses at this assisted living facility. She does have a nurse that comes to see her at the Board & Care once a week and is visited by her doctor once a month. The redness seemed to be getting worse. When I asked the lead Board & Care attendant if the sore was something I should be concerned about, the response was that redness of this type is common in elderly people. But to me, the redness seemed to be getting worse. I spoke to a friend, who told me about bedsores and that it could be evidence of elder abuse. I also learned bedsores can get worse quickly and develop into a dangerous condition. Is this true? A Yes. Bedsores can definitely get worse and therefore you must be diligent as your mother’s health advocate to inform her physician immediately to determine the current stage of the bedsore and its rate of progression. According to the Centers for Disease Control, as many as 1 out of 10 residents in nursing homes currently suffer from bedsores. In most cases, bedsores are caused by a lack of attention and improper medical care. Bed Sores A pressure sore is damage to the skin and underlying derma. It can begin with reddening and can appear pink in tone. It can then develop into severe tissue breakage and infection. Bedsores are serious health concerns and once identified they need to be treated immediately. Patients like your mother, who have suffered a stroke and loss of sensation where the sore developed, do not always realize that something is wrong because the sensation of pain can no longer be felt. Pressure Sores Are Medically Characterized In Four Stages: Stage One: In this stage, the sore does not involve broken skin to the point where there is an open wound. However, the skin may be painful, but there are no breaks or tears of the skin. The skin looks red or pinkish and can be very itchy. Skin temperature can be slightly elevated to touch. Stage Two: This is when the sore begins to break-open which is usually very painful. It can look like a blister. The sore expands into deeper layers of the derma. It can look like an abrasion, blister, or a shallow crater in the skin. Sometimes this stage looks like a blister filled with clear fluid. At this stage, the skin can be so damaged it’s unable to heal. Stage Three: This is when the sore gets worse and extends into the tissue beneath the skin, sometimes forming a small crater. The wound may show puss but does not reveal muscle or bone. Stage Four: This is a very dangerous level. The sore is deep and muscle, ligament, and bone are actually visible through the wound. There is usually a dark discoloration and blood surrounding the wound. This level of extensive damage is highly prone to infection and could develop into sepsis, which can be fatal if not treated aggressively by a wound care expert. Final Advice Unfortunately, your mother is of the age in which her skin is very thin, and since she has also suffered a stroke, her loss of sensation to feel pain places her at high risk of developing a bedsore. Finally, the best advice is to take action immediately by contacting the doctor for an immediate examination. Those who work at assisted living facilities are not medically trained and are prohibited in most states from performing wound care.

posted: Jan. 23, 2020 My head is spinning. My 87-year-old father has rapidly declined in his mental and physical functioning. I spoke to my neighbor who has told me it is probably too late to have a Power Of Attorney set-up because my father no longer has the ability to understand what he is signing. I understand there is something called a Conservatorship where someone else can act for him so long as it is court-sanctioned. Can a Conservatorship be set-up quickly? And if so, how does this work? In Conservatorships cases, when there is deemed an urgent need to open up a conservatorship, and the process must happen quickly, the court may appoint a Temporary Conservator over your father until a General Conservator can be appointed by the court. This requires that your lawyer file the request for an immediate appointment of a conservator at or about the same time the general conservatorship case is filed. What Does A Temporary Conservator Do? The legal duty of a temporary conservator is to arrange for temporary care, protection, and support of your father. This includes protecting your father’s finances and property until a general conservator can be appointed by the court. My father is a widower. Do I have the legal authority to file for a conservatorship on my father's behalf? Yes. Under the law of most states, there are a number of people who can file for a conservatorship for another and include: Your mother, if she were alive; A domestic partner; The children of your father; A relative of your father; Any other interested person or friend of your father; and Any interested state or local entity or agency. How Does The Court Determine Which One To Choose? In appointing a conservator, the court is always guided by the best interests of the conservatee – in this case, your father. Assuming that your father does not have the legal mental or physical capacity to choose his preference as to who will serve as his conservator, the court will appoint one, usually a temporary conservator, who will act as a Professional Fiduciary and who will be guided by what is in the best interests of your father. Who Pays For The Conservator? Normally, your father’s estate, assuming there are sufficient assets. Conservators charge fees, but the court must approve these fees in advance of payment. Private independent conservators, especially if the conservator is a lawyer, can charge in the range of $250/hour or more. If your father cannot afford to pay a conservator’s fees, you will need to consider retaining a public conservator, sometimes referred to as a public guardian or professional fiduciary. There may be fees charged here as well, but they are usually much less than the fees requested by a professional fiduciary. What Does A Public Conservator Do? That depends whether the public conservator is granted powers by the court over the person only, estate only, or both depending on the specific needs of your father. What Does The Conservator Of The Person Do? The Conservator of the Person arranges for your father's care and protection, determines where your father will live and makes appropriate arrangements for health care, housekeeping, transportation, and recreation. What Does The Conservator Of The Estate Do? This can be fairly broad depending on the size of your father’s estate. The Conservator of the Estate will manage your father's finances, locate and take control of the assets, collects income due, pays bills, invests your father's money and protects known assets.  Other duties include: Providing estate management including applying and maintaining appropriate public benefits, paying bills, providing personal needs funds and acting as the representative payee; Ensuring that your father receives appropriate mental health and physical health services; Providing real and personal property management, including protecting assets and valuables and seeking court authority for the sale of assets when necessary to provide for the needs of your father.

posted: Apr. 15, 2022 BBy most estimates, anywhere from 50 to 60% of Americans don’t have a will. Your legacy is important. A well-crafted, detailed estate plan can address many concerns about what the future may hold. Many view estate planning as simply “writing a will,” but it is so much more. Estate planning is an extensive process involving organizing and coordinating a person’s life belongings during their life as well as after their departure. Everyone’s situation is unique and finding the best solution for your needs is not easy. At The Law Offices of Kenneth W. Drake, Inc., I have the insight and commitment necessary to help you make sound choices and protect what matters to you. Wherever you may be in the estate planning learning process, from being ready to design or needing to update your estate plan, or seeking help with litigation, I am here to stand in your corner. Why is Estate Planning Important? Estate planning may not be the most riveting topic to consider, but without careful attention to estate planning, you can’t choose who gets everything that you worked so hard for after you pass away. Take into account the following reasons why you need an estate plan to avoid potential issues for the future: 1. An Estate Plan Protects Beneficiaries One of the main functions of an estate plan is designating recipients for all of your assets. Without an estate plan, the courts will often decide who gets what, a process that can take years, rack up high costs, and get ugly. Having a detailed estate plan in place gives you control over your assets. 2. An Estate Plan Protects Young Children Nobody thinks of dying young, but if you’re the parent of small children, you need to prepare for a tragic event. To make sure your children are cared for in the way you prefer, you need to name a guardian in the event that both parents pass away or become otherwise incapacitated. Without a will that designates a guardian, the court will decide who will end up raising your children. 3. An Estate Plan Eliminates Family Messes We’ve all heard the horror stories: Someone with money dies and the war between family members begins. Estate plans enable you to choose who controls your finances and assets should you become mentally incapacitated or after you die. Estate plans stop the family fights before they start. When Should I Plan My Estate? It’s never too early to plan your estate, so the answer is: right now. Many believe that you need to be a well-established or senior adult to start thinking about estate planning. Being proactive no matter what your age is always beneficial. With the help of an experienced estate planning attorney , having a clear plan in place for the future provides peace of mind and security for your loved ones, knowing everything will be in place in the event of an unexpected tragedy. Important Estate Planning Terms Estate planning can be complicated and confusing. Like many subjects, the more you understand, the less overwhelming it will feel. But where do you start? What’s most important? You can also broaden the scope of your knowledge by becoming familiar with some of the more common estate planning terms. Will: A legal document that lists a person’s wishes about what will happen to their property after death. Administrator: The person that the court appoints to manage the estate of a person who dies without a will. Advance Healthcare Directive: A legal document stating your personal preferences regarding future medical care. Beneficiary: An individual who inherits assets in a will. Decedent: The person who died. Decedent’s Estate: All property owned by a person at the time of their death. Executor: The individual designated in a will or appointed by a court to carry out the decedent’s wishes. Heir: An individual who inherits assets if there is no will. Probate: The court process for distributing a decedent’s assets, paying debts owed by the decedent, and settling the financial affairs of people when they die. Successor: Any person who has a legal right to receive assets, either through a will or the probate process. Intestate Succession: The order of inheritance when an individual dies without having a will. Trust: An arrangement in which assets are given to an individual to be held for the benefit of someone else. Living Trust: A trust established during a person’s life to distribute assets to another person or entity. Personal Property: Items like cash, stocks, jewelry, clothing, furniture, or cars. Power of Attorney: This grants authority to a person or institution to step in and make decisions on your behalf should you become unable to make them on your own. Protect Your Assets & Provide for Your Family It is important to understand that estate planning is not a simple “one size fits all” process. Without creating the right strategy, years of your hard work and success can be at risk. At The Law Offices of Kenneth W. Drake, Inc . , I am committed to helping create a plan that fits your particular needs and if need be, handle litigation on your behalf. I proudly serve clients in Woodland Hills, California, as well as throughout the San Fernando Valley, including Los Angeles, Ventura, and Santa Barbara counties.

posted: Apr. 24, 2022 Being named the executor in someone's will means that person has entrusted you to settle their final affairs. This massive responsibility has several tasks to complete, including gathering assets, paying off debts, filing estate tax returns, and distributing assets to the appropriate parties. As an executor, you'll need to learn more about what your role will be and how to ensure you are carrying out the deceased person's wishes. Young male lawyer visiting old man in testament concept Through my firm, The Law Offices of Kenneth W. Drake, Inc., I have devoted my career to guiding clients through the estate administration process by providing experienced legal counsel. If you are the executor of an estate, let me help you carry out your duties and responsibilities in a timely, intelligent manner. My firm proudly serves clients in Woodland Hills, California, and throughout the San Fernando Valley and Los Angeles, Ventura, and Santa Barbara counties. Your Steps as Executor of an Estate Your executor duties begin when the person naming you executor (the decedent) passes away. You may feel overwhelmed, but keep in mind that this person selected you because they trusted in your ability to execute their last wishes and distribute their property properly. See to the Decedent’s Loved Ones First and foremost, ensure that there are arrangements for the care of the decedent’s loved ones, such as a dependent spouse, children, or pets. They may need temporary housing with you or someone else if they cannot continue living in the decedent’s home. Sometimes in an estate plan, the care of pets is overlooked. If needed, the estate can cover expenses related to the care of pets and dependents, so keep track of any spending. Notify Interested Parties Most likely, you will not have to notify beneficiaries and dependents of the death. Still, keeping everyone informed is another responsibility that falls on you as executor, including taking care of the funeral arrangements and obituary. You will also have to notify and take care of any outstanding bills for utility companies, banks, social security, and insurance companies. Eliminate Unnecessary Expenses Another step to take is to cancel any existing subscriptions or memberships the decedent had. An executor should also sift through the decedent’s online presence to deactivate accounts, such as social media profiles and payment services accounts. Depending on the decedent’s phone plan, you may have to cancel that, as well. Gather Important Documentation Ideally, the decedent will have put the original will, deeds, insurance policies, partnership documents, or other important papers in an agreed-upon place and placed copies of them at a backup location. Acquire copies and originals of these important documents as needed. Also, you must get copies of the death certificate and legal pronouncement of death for when you finalize the estate process. Hire an Estate Administration Attorney As the executor, you can save on professional fees by doing a lot of the administrative work yourselves, resulting in more assets left over for heirs. But even if the estate that you are handling is small, it is still smart to hire an attorney for at least an initial consultation. Retaining an experienced estate administration attorney can make keeping track of things much easier, and can also ensure that everything is done correctly. Do Not Disperse Assets Until the Process Is Finalized Obviously, the disbursement of assets will need to wait until all outstanding debts have been paid and there is a proper accounting of what all the assets are. From there, the decedent’s will should dictate which beneficiary gets what. Keep Beneficiaries From Rushing You Through the Process In some cases, the beneficiaries will want to rush the process, especially if they are in line to receive a good chunk of the assets. Resist that pressure, as it is better to be thorough and precise so that you can honor the decedent’s final wishes. Contact an Experienced Estate Planning Attorney The responsibility of being an executor of an estate is not a small one. That is why it is critical to have an experienced estate planning attorney available to you. My firm, The Law Offices of Kenneth W. Drake, Inc., prides itself on the ability to guide and counsel executors so that they can preserve the legacy of their deceased loved one. Not only does my firm handle all estate planning matters, but I can also assist in estate litigation if need be. Contact my Woodland Hills office today to set up an initial consultation. I proudly serve clients in San Fernando Valley and Los Angeles, Ventura, Santa Barbara counties, and Woodland Hills, California.