Estate Planning Archives

Better Late Than Never - Late Notice May Not Be Detrimental To Coverage Under An Occurrence Policy

As anyone who has ever tried to read through an insurance policy can attest, there are pages upon pages of terms, conditions, exclusions, limitations, definitions, and ... notice requirements. Most notice requirements in policies mandate that notice of a claim be provided in a prompt or timely manner. While the failure to strictly adhere to the policy's notice requirements can result in a forfeiture of coverage, late notice may not always be detrimental. In Marty Lat v. Farmers New World Life Insurance Company (10/16/18 Court of Appeal 2nd Dist.), the Court of Appeal held that an insurance company may not deny an insured's claim under an occurrence policy based on lack of timely notice or proof of claim unless the insurer can show actual prejudice from the delay.

What is the cy-pres doctrine?

During the course of your estate planning in California, you may wish to set up a trust that will benefit a particular cause or charitable organization after your death. This is a very generous gift and can ensure that your legacy lives on. However, because it is impossible to predict the future, circumstances may arise after you are gone that make it difficult or impossible to honor your intentions for the charitable trust exactly as written. In that instance, rather than allowing the trust to fail and the assets to go to waste, the court may apply the principle of the cy-pres doctrine. 

3 Items For Your Winter Corporate Check-Up

One of BKCG's main goals is to help our clients avoid legal problems from occurring in the first place and, with that in mind, based on our clients' experiences and recent legal developments, we suggest you consider doing the following 3 things to help your company stay out of legal peril.

Estate planning during a health crisis

There are various things to consider with respect to creating an estate plan. First, everyone's personal circumstances are unique and different types of estate plans work better for some people than others. Some people may be hesitant to set up a trust or a will, while others may have confidence in their decision. Moreover, some people may be going through a health crisis, such as a cancer diagnosis, that makes it difficult for them to concentrate on estate planning matters. For others, a serious health crisis may motivate them to set up an estate plan.

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