A: We recommend having her sign a Durable Power of Attorney, HIPAA, and Advance Health Care Directive. If your child is 18, you no longer have any emergency decision making authority should they need urgent help accessing finances or making health care decisions. If...
A: Although probate code section 6122 largely disinherits a former spouse automatically upon entry of a divorce judgment, the same is not true while the divorce is in process. As soon as possible after the divorce proceedings have been initiated, you should update...
A: Yes you will. A will has no effect or power over property owned in joint tenancy, as the surviving joint tenant(s) will always inherit the interest of the deceased joint tenant, even if the deceased joint tenant had a will with different terms!
A: In California, Probate Code Section 6124 states the general rule that if the original will cannot be located, there is a presumption that the will was intentionally destroyed. However, Probate Code Section 8223 allows a petition to be filed in order to bring forth...
A: Yes! You can transfer your out-of-state property to yourself as trustee of your California trust. By doing so, you will ensure that it will be administered under the terms of the trust that you have carefully considered and created. Failing to transfer your...
A: Not at all! Since the Settlors (the name given to the clients that create the trust) are able to exercise absolute control, dominion and discretion as to all the assets of the trust, no separate EIN will be required, and you will not have to file any separate tax...
A: In the event of an unexpected death, courts will consider the best interests of a child when determining who is the best fit as guardian, and the wishes of a parent are generally given tremendous weight in making that decision. If it matters to a parent who would...
A: 1). Undue Influence or Lack of Mental Capacity 2). Failure to Satisfy Legal Formalities and Requirements 3) .Breach of Fiduciary Duty (either by the Successor Trustee or the Executor) 4). Disagreements about distribution or sale of a particular asset 5)...
A: Here are 7 reasons NOT to add your child to the title of your home: 1. CAPITAL GAINS TAXES. Your child will lose the full step-up in tax basis upon your passing, which could cost the child significantly in tax liabilities upon an eventual sale of the property. 2....
A: Yes! We typically recommend young adults execute a Durable Power of Attorney, Advance Health Care Directive, and HIPPA Waiver. Since your son is now legally an adult, you no longer have authority to act on his behalf in the event of an emergency or otherwise. He...
