A will or trust contest is the legal process of challenging the asset distribution written into a will or trust. A person who makes a will or trust (testator/settlor) can freely choose who they want to leave their assets to after they die. However, it is usually not until after the testator dies (now referred to […]
Will & Trust
Life Insurance Trusts – Tax Free Money
You can take advantage of the annual $14,000 federal estate gift tax exemption (this number is indexed for inflation and is subject to change every year) by having your California probate and trust attorney help you set up what is called a “crummy trust” or irrevocable trust. An irrevocable trust is set up to buy […]
Why You Should Transfer California Real Estate to a Trust
If you own California real estate, you should establish a living trust and transfer all your real estate and other assets to the trust. It will save your family a great deal of stress, a lot of time and thousands of dollars in legal costs at the time of your death, by avoiding probate. A […]
What do Trusts do?
Trusts are an essential part of a California resident’s estate planning. It is recommended that you set up a trust to avoid probate and to save estate taxes. Married couples can set up joint trusts. Also, trusts are private documents. Your assets and beneficiaries are not made public, because probate has been avoided. Keep in […]
If you want to avoid a Trust Contest or a Will Contest you shouldn’t name your second wife and your child from your first marriage as co-trustees
When choosing a trustee or co-trustee of your trust or executor of your will, you want to make sure that you choose someone that you trust who has the time to devote to administering the estate and is able to get along with the other heirs and beneficiaries. Most people choose a spouse, child, sibling […]
The importance of giving the surviving spouse a special power of appointment for the marital trust to keep the children from giving her a bad time
A special power of appointment protects both your children and your spouse. The power guarantees that the asset will go to your children, but your surviving spouse has the power to chose which ones of them will inherit. This gives your surviving spouse an effective way of making sure that he/she has more decision making […]
What is a special power of appointment?
The purpose of a California special power of appointment is for the maker (the testator) of a will or trust to give an executor or other beneficiary broader powers to distribute certain assets to a group of beneficiaries in the testator’s will or trust. An example of when a special power of appointment would be […]
What’s a Trusted Helper and Why Do I Need One?
A trusted helper is an individual (or firm) that you choose to carry out your estate plan. Even if you’re a very independent do-it-yourselfer, you will need help should you become disabled and when you die. Specifically, every estate plan needs several trusted helpers: Executor of the will Successor trustees of the trust Guardians for […]
Stay in Control with These 3 Estate Planning Documents
One of the most highly cited goals of estate planning is staying in control; therefore, most estate plans are designed to keep you in control. To stay in control, you must have these 3 estate planning documents. 1. Will Your will keeps you in control of your children, the distribution of your property, and the […]
How to Choose Your Trustee in 5 Easy Steps
Choosing the trustee of your living trust is an important task and shouldn’t be made without thorough thought. The trustee of your trust will serve if you are no longer able to serve, through disability or death. This is the person who will step into your shoes and carry out your instructions. Here are the […]