A: Not necessarily! Any assets you own as joint tenants would automatically pass to her by right of survivorship. However, be aware that California, contrary to popular belief, does NOT recognize common law marriage. Therefore, if you want assets to go to your...
A: A living trust is like your personal GPS for the afterlife. First, it makes sure your assets get to the proper destination! Second, it ensures your assets have a smooth road to travel without hitting those pesky probate traffic jams; indeed, instead of waiting in...
A: You may very well need to! Special Needs Trusts are usualy designed to supplement, but not supplant, the means-based government assistance and benefits that your loved one is receiving! The language of the SNT establishes that the trust funds are to be used only...
A: Although not technically required, it is still a very smart idea! Utilizing an Estate Planning Attorney will ensure that the maximum amount possible of your estate ends up in the hands of your child. Trusts ensure there are no unnecessary contests, streamline the...
A: Fortunately, if the cars are registered with the California DMV, you will not have to do anything to change or update the pink slips. Specifically, this little perk is brought to us by Probate Code Section 13050(b)(1), which excludes any such cars from a decedent's...
A: You sure can, but it's not advisable! The worst part of a DIY trust is that by the time problems start sprouting up, there is nothing that can be done to fix them (because they typically aren't discovered until AFTER you're gone). Creating a Trust own your own may...
A: If you own a home in California and/or have minor children, creating a Trust is a wise investment. Homes in California are often over the $184,500 threshold amount that is subject to probate. Additionally, providing nominations of guardians of minor children allows...
A: Trust funding is the process of transferring assets into a trust. After creating a trust, the next step is to 'fund' the trust with assets. This could involve moving money into a bank or investment account held in the trust's name and transferring titles of...
A: Fortunately, that is not the case! California recognizes revocation by operation of law. If a testator gets divorced after the will is created, California law automatically revokes any gifts that the were made to the former spouse, unless the will explicitly states...
A: A Heggstad petition is a legal maneuver used in California. If a person dies and leaves behind a trust, yet some of their assets weren't properly transferred into the trust before their death, those assets typically would have to go through probate to be...
