If you’ve been named as a Trustee of a loved one’s trust, you should work with an estate planning attorney who will guide you through your duties. In general, you are responsible for preserving and protecting the assets for the benefit of the named beneficiaries. It is imperative to remember that although you are responsible […]
Will & Trust
Trustee – The Top 4 FAQ
Serving as Trustee for a loved one is both an honor and a responsibility. Turn to your estate planning attorney for expert guidance. Here are answers to the questions we receive most frequently in our office. 1. Is there anyone to help me? Yes. As a Trustee you can work with your estate planning attorney […]
No Will? Yikes!
About 50% of all Americans over the age of 18 do not have a Will. Most either feel guilty about not having a Will or think they don’t need one. If you don’t have a Will, you need one. In fact, everyone 18 years and older needs his or her own Will. Why don’t people […]
Naming a Bank as Trustee
Yes, you can name a bank (or trust company) as Trustee of your Trust. This is common for large estates and for those who do not feel comfortable appointing family or friends as Trustee. There are manyof banks that have trust departments and can serve as the Executor of an estate and Trustee of a […]
Do I Need a Will?
We get this question all of the time in our estate planning office. It is an important question. In a word, Yes. You do need a Will. Frequently, both clients doing Trust planning and clients with little or no assets ask this question. First, clients with Trust planning still need a Will. The Will (in […]
But, I Don’t Want to Inherit!
Believe it or not, you are not alone. We do hear the question, “What do I do if I don’t want to inherit something” in our office periodically. Beneficiaries disclaim for various reasons. For instance, they want the assets to go to someone else such as the deceased’s children; they don’t want to take responsibility […]
Can We Refinance Our House? It’s Titled in the Name of Our Trust?
With mortgage rates at historic lows, we have been getting asked this question quite a bit: “Can we refinance our house that’s titled in the name of our trust?” The answer is: Absolutely! Contact your estate planning attorney if are not sure how your house is titled. By all means, apply for the new loan. […]
A Will has no Effect on Most Property
Surprised? It’s true! While each and every person age 18 or older should have a Will, there are some things that a Will cannot do. If you’re like most people, you don’t realize that a Will has absolutely no effect on certain assets. The assets themselves determine what happens to them when you die; your […]
What’s the Difference Between a Will and a Living Will?
Good question! We actually get that question quite a bit in our San Diego, California Estate Planning Law Office. A Will is a legal document used to transfer assets that you own in your individual name and to name an Executor to administer your estate. It is effective AFTER you die and is also used […]
What if the In-Law Becomes an Outlaw? Yes, You Can Protect Your Child’s Inheritance from Divorce
Hmmmm. What happens when that formerly sweet In-Law hits the road and takes everything that you worked so hard for and gave to your sweet child? An Outlaw is created! It could happen and does happen every day. Put on your white hat and give your gift not to your child, but to a trust […]