Disaster Strikes, Scammers Follow: Protect Your Estate from Legal Pitfalls After a Crisis

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In the aftermath of natural disasters like the recent Eaton Fire, many individuals face not only the loss of property but also the complexities of legal and financial challenges. A recent case highlights these issues: a real estate agent was charged with price gouging after allegedly increasing the rental price of a La Cañada Flintridge home by 38% following the fire.

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Price gouging, defined as raising prices of essential goods or services beyond legally permitted limits during emergencies, is a serious offense in California. State law prohibits increasing prices by more than 10% following a declared emergency. Violations can result in fines up to $10,000 and imprisonment for up to one year.

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For those affected by such disasters, it's crucial to be aware of these protections and to report any suspected price gouging to authorities. However, beyond immediate concerns, it's also an opportune time to review and update your estate plans.

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Key Considerations for Estate Planning Post-Disaster:

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1. Property and Asset Assessment: Evaluate the impact of the disaster on your assets. Document damages thoroughly for insurance and legal purposes.
2. Insurance Reviews: Ensure your insurance policies are up-to-date and adequately cover your assets. Understand the claims process and timelines.
3. Legal Document Safeguarding: Store important documents, such as wills, trusts, and property deeds, in a secure and accessible location. Consider digital backups.
4. Beneficiary Updates: Life changes due to disasters may necessitate updating beneficiaries on insurance policies, retirement accounts, and other financial instruments.
5. Charitable Contributions: If inclined to support disaster relief efforts, explore the benefits of charitable trusts or donations as part of your estate plan.

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Navigating the aftermath of a disaster is challenging, but proactive estate planning can provide clarity and security for you and your loved ones. Consulting with an experienced estate planning attorney can help ensure your assets are protected and your wishes are honored, even in the face of unforeseen events.

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If you or someone you know has been affected by the recent fires and need assistance with estate planning or legal advice, please contact our firm. We are here to help you through these challenging times.

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