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, many individuals choose to retain the roles of settlor, trustee and beneficiary when a revocable living trust […]

Posted in Trust Administration | No Comments »

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, even from an inability to manage inheritances. All trusts are not the same. […]

Posted in Trust Administration | No Comments »

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 the death of the will’s creator. Revocable living trusts […]

Posted in Trust Administration | No Comments »

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 purposes — not the least of which is potential estate tax savings. Revocable and irrevocable […]

Posted in Trust Administration | No Comments »

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 daughter of his fifth wife. Recent reports say the girl, […]

Posted in Trust Administration | No Comments »

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 many legal processes to […]

Posted in Trust Administration | No Comments »

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 backstory of the relationship between a Santa Clara County businesswoman and a partner she […]

Posted in Trust Administration | No Comments »

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 new concept in California and is beginning to circulate among estate […]

Posted in Trust Administration | No Comments »