Legal documents used in estate planning have unique purposes. California advisers usually recommend that everyone creates a will. The same advice may not apply to revocable trusts, depending on individual estate plan desires. Revocable trusts are most often created to...
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Trust Administration
Non-settlor trustee duties in revocable living trusts
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,...
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,...
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...
Why revocable living trusts are great supplements to wills
The belief that trusts are only for wealthy individuals is fading as Californians discover the estate planning benefits of trusts. Sometimes wills are enough for the distribution of assets to heirs. Often trusts are beneficial supplements because they serve multiple...
Galen Hopper inherits nearly $3M from actor dad’s estate
Actor and filmmaker Dennis Hopper was 74-years-old at the time of his death in 2010. Two months before he died of cancer, Hopper celebrated his recognition of celebrity on the Hollywood Walk of Fame with his 7-year-old daughter, Galen -- Hopper's fourth child and the...
Hidden costs of do-it-yourself estate planning
Economic times have been hard in California. So, it would stand to reason, if there is a way to save a buck (or two) by doing something yourself, it would be a good idea. Right? The advent of online resources and do it yourself legal forms for many counties has made...
FBI investigates Silicon Valley trust fund thefts
He was her boyfriend and the company controller in her Silicon Valley trust administration business. Unfortunately, the man may also be the embezzler behind a scheme that caused more than $17 million in clients' funds to evaporate. The FBI is tracing the California...
Considering a trust protector for a California estate plan?
The administration of a trust following the death of its creator is usually left to a trustee. However, many legal experts now advise appointing a trust protector as a supplement for a trustee, rather than a replacement. The use of a trust protector is a relatively...