A: The two major types of decisions you will make in your estate are: 1) Who will you nominate to act as fiduciaries in your estate planning documents, and 2) How your assets will be distributed after you pass away You can begin by thinking about whether you have...
A: Yes, trustees in California are entitled to receive reasonable compensation for the work performed to administer the trust. The amount of compensation is typically determined to be 1% of the value of the trust estate annually, or charged hourly at a reasonable...
A: Yes, you must at least make a diligent effort to do so. For example, we send the following message to all of our Successor Trustee clients: "As part of the Trustee’s duty to collect and preserve as many assets as possible on behalf of the Trust, we always recommend...
A: If you want to report elder abuse or dependent adult abuse, you contact your local county APS (Adult Protective Services) Office. For most types of abuse, County APS programs have 10 days to respond to your report. Abuse reports may also be made to your local law...
A: Yes, all properties in California are subject to Prop 13! Prop 13 provides 3 very important functions in property tax assessments in California: 1. All real property must have an established base year value 2. All real property has a restricted rate of increase on...
A: There are several reasons a trust may be attacked or challenged as invalid, including: 1: Mental Incompetence: The grantor lacked the requisite mental capacity 2: Undue Influence: External pressure affected the grantor’s decisions 3: Forgery: The trust document is...
A: Possibly. If you have a claim to an estate or inheritance that is based on a promise or an agreement, then you can file a claim under Civil Procedure Code Section 366.3. However, be aware that the claim must be filed no later than ONE year from your grandfather's...
A: Yes, if certain conditions are met. Specifically, if your stepparent survived your parent, and then died without ever remarrying, that stepparent could leave you his or her primary residence and the County Assessor will in fact consider that stepparent your...
A: Yes! Although the attorney will typically transfer business interests and real estate into your trust for you, you will almost always need to personally coordinate with your financial institutions to transfer your accounts into your trust, even AFTER you sign all...
A: If you die without a will or trust in California, your estate will be distributed according to California's intestacy laws. This typically means that your assets will be divided among your closest relatives, such as your spouse, children, or parents, depending on...
