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...
A: A list will ensure that your assets are easily transferred and that your family will know exactly what you own so nothing falls through the cracks. The following is an example of 10 common items that are included on an asset list: 1. Insurance and Life Insurance...
A: A trust restatement is essentially an amendment of your entire trust that replaces all of the provisions of your original trust with new provisions to meet your current goals. It is a great option if you have an older trust that needs to be updated, if you have...
A: Although every living person should have a will, by itself it unfortunately does absolutely nothing to help keep your kids out of probate. Having said that, just because you only have a will does not automatically mean your estate will be subject to probate. For...
