A trust is a legal relationship which is normally created in your lifetime and involves you, the grantor, the trustee and the beneficiary. You don’t need to be either wealthy or elderly to do estate planning in the form of a trust. An estate can consist simply of a home, a car and a checking […]
Will & Trust
What If You Become Sick and Don’t Have a Power of Attorney for Healthcare?
A power of attorney for healthcare allows you to appoint someone you trust (your agent), to make important health care decisions for you if you can’t make them yourself. The power of attorney for healthcare has no effect as long as you can make your own wishes known. A power of attorney for healthcare may […]
Why a Will Alone Can’t Eliminate Probate
Though leaving a will can mean fewer complications for your loved ones, it can’t eliminate probate. Even with a will, the California probate court will have to approve your selection of executor. The court can also require the named person to post a bond in order to serve. This bond could be a nominal amount […]
What is the Difference in Joint Tenancy and Tenants in Common?
The designation of joint tenancy or tenants in common is generally related to real estate matters. This designation deals with how the real property is titled. Joint tenancy gives the right of survivorship. This means that if one party dies, the property or bank account is automatically considered to belong to the surviving partner. Joint […]
What Is Community Property With Rights of Survivorship?
When married people hold property outright, they will generally hold the title as either joint tenants with rights of survivorship or as community property. Joint tenancy is concurrent ownership, meaning two or more people own the property at the same time. The most compelling feature of a joint tenancy designation is the right to survivorship, […]