California estate plans often include trusts that have dual roles. Assets in revocable living trusts benefit individuals during their lifetimes and reward beneficiaries when the trust creator, also known as a settlor, is no longer alive. For financial control reasons,...
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The differences between wills, living wills and living trusts
A California attorney who specializes in helping clients formulate effective estate plans understands the usefulness of wills and trusts, but the average individual may be less familiar. Conversely, an estate planning attorney cannot decide an individual's desires...
Rules are complex for IRA inheritances
Individual Retirement Accounts are investments designed to provide income during the later years of life. What happens to IRAs or the unused portions in them after death? Ideally, a Los Angeles estate planning expert will ensure that the IRA or remaining sum benefits...
Who needs revocable living trusts?
Not every person requires a trust to complete an estate plan. Sometimes a will and powers of attorney cover everything necessary for an estate. In other circumstances, trust instruments are needed to ensure assets and heirs are protected from probate and, sometimes,...
Sherman Hemsley will valid, despite half-brother’s claim
The man who played the proud, strutting, wealthy George Jefferson on The Jeffersons died last July. Sherman Hemsley, whose 1970s comedy show was filmed in Los Angeles, was never buried. A probate court had to decide whether the actor's will was sound and funeral plans...
Creating an estate plan that includes a pet
Events like Hurricane Sandy make pet owners think about what would happen to a loved animal when owners were unable to care for them. Natural disasters and an owner's incapacity or death can separate a pet from a human friend. The ASPCA encourages pet owners to...
Benefits of revocable trusts before and after death
Many people believe that having a will is all that is needed for a proper estate plan. The reason for that belief may be a lack of knowledge about other estate planning tools like the revocable living trust. Wills take care of asset distribution to beneficiaries upon...
Using insurance to pay estate taxes, save assets
Term and permanent life insurance policies are used to help the very wealthy and the not-so-rich cover estate taxes or balance financial relationships among heirs. Estate planning experts suggest a thorough review of the purpose of the insurance before choosing...
Proposal to lower Ca. conservators’ fees heads to hearing
An article published in a California newspaper last summer led to a task force and a proposal that could change fees paid to conservators of the estates of dependent adults. Court officials in Santa Clara County are considering rules that would limit what...
Election to impact estate planning decisions
Voters are subjected to various risks regarding the upcoming presidential election. Estate administration and decisions would be lot easier if individuals, estate planners and California heirs knew what to expect from the candidates and the Internal Revenue Service....