Ortiz Law

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So proud that our Founder Michael Ortiz has being recognized as a "Young Professional Making History" by the Corona Chamber of Commerce! Thank you Corona Chamber of Commerce !

Trust Tip Tuesday 6/30/20 Today we talk about Kobe Bryant’s trust. I read an article talking about Kobe’s trust and the fact that Kobe did not amend his trust after his daughter Capri was born. Sadly, Kobe’s surviving spouse Vanessa now has to file a petition in probate court to add baby Capri as a beneficiary of Kobe’s trust. This costs money, causes delay, and makes public details of Kobe’s life that would have normally been private. ... What we learn from this is the importance of keeping your estate plan up to date, especially upon a change in situation like the birth of a child. Here’s a link to an article on the topic: https://www.google.com//ny-vanessa-bryant-adds-daughter-to

How long does it take to create a living trust? It usually takes about 2-4 weeks. In emergency situations it can be done sooner, but like most things if you wait until you need it it might be too late.

Register for our FREE webinar: https://bit.ly/June30Webinar Today’s Trust Tip is to Keep it in the Family. There are a few ways that a family can lose its wealth after a loved one passes. One common but often overlooked way is when a surviving spouse remarries. ... The situation occurs when a spouse dies and leaves all assets to the surviving spouse. The surviving spouse then remarries, and now the new spouse has access and influence. All it takes is a power of attorney, a grant deed, or a new estate plan for the family wealth to now be commingled into the marital estate or given to the new spouse. Things like this can result in children and grandchildren from the first marriage losing out to funds that were supposed to go to them. Thereby cutting off the legacy the deceased spouse hoped to leave behind. In many situations, it may be best to include certain stipulations in your trust to make sure this doesn’t happen to your legacy. #EstatePlanning #Attorney #TrustAttorney #WillsAndTrusts #Probate #ProbateAttorney