Having an estate plan is wise for those who want to ensure that their wishes for the dispensation of their assets are carried out after their death. With an estate plan, you can also designate who will make decisions regarding legal, financial and health matters for...
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Trust Administration
Protecting your child’s inheritance from a spouse in a divorce
You want to leave your adult children an inheritance or perhaps give them a large chunk of money while you're still alive. However, you don't want to risk having half or more of that money go to their spouses should they end up divorcing. It happens all too often....
Can you protect a trust from a beneficiary’s creditors?
You're the trustee of a trust for a beneficiary who owes money to creditors. Can you be required to use assets in that trust to pay that beneficiary's debt? Under California law, you may be able to avoid having to do that. However, it depends in part on how the trust...
When should you amend your estate plan?
Developing an estate plan is essential to making sure that your wishes are carried out after your death regarding inheritances and donations to charity. It's also important for detailing your wishes should you become too incapacitated to speak for yourself. However,...
Leaving your children assets without ruining their future
Most of us have heard stories of young people who were left a considerable amount of money by their parents, and therefore never felt the drive to succeed on their own merits. Too often, it doesn't end well for them. That's why many people who have a considerable...
Why are revocable living trusts advantageous for Californians?
When many Californians create their estate plan, their attorney will recommend setting up a revocable living trust. There are a number of advantages to having this document, both for you, while you're still alive and well, and for your heirs and beneficiaries after...
When should you set up a special needs trust?
Trusts are a key element of many people's estate plans. Often they are used to put money or other assets aside for a child or grandchild until they reach a certain age or other milestone. For people who have children or other family members with mental or physical...
David Bowie’s death shines light on trust use in estate planning
After fans in California mourn the deaths of their favorite or most idolized celebrities, they often begin discussing the fate of those celebrities' estates. Unfortunately, most discussions concerning celebrity estate plans circle around the estates' deficiencies...
A trust can be used to care for a pet in California
There are many things to think about when designing an estate plan. Much of the focus in estate planning will be on making sure intended beneficiaries are taken care of in California. This may involve creating a trust for one's heirs. However, many times people will...
Married couples affected by new trust administration laws
When couples marry, they are usually not concerned with financial matters at first. On the other hand, with their change from single to married status comes some potential tax advantages in California. However, tax advantages do not only apply while the married couple...